{"id":15526,"date":"2021-07-23T20:16:08","date_gmt":"2021-07-23T20:16:08","guid":{"rendered":"http:\/\/ci0288dcac80002560"},"modified":"2025-01-29T15:07:37","modified_gmt":"2025-01-29T15:07:37","slug":"bitcoin-atm-demand-mainstream-adoption","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/bitcoin-atm-demand-mainstream-adoption","title":{"rendered":"Bitcoin ATMs Are Popping Up To Meet Demand And Propel Mainstream Adoption"},"content":{"rendered":"
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Bitcoin ATMs are popping up across the U.S. as Bitcoin adoption grows. The machines provide a convenient, hassle-free experience for anyone to purchase bitcoin, meeting the growing demand across the country \u2013 with some tradeoffs.<\/p>\n

In less than a year, bitcoin ATM units deployed in the U.S. have more than doubled, now amounting to over 38,000 machines, according to How Many Bitcoin ATMs<\/a>, an independent research site.<\/p>\n

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In West Texas, bitcoin ATMs have popped up at gas stations and grocery stores, reported CBS7<\/a>. The machines allow customers to walk in and trade cash for BTC, up to $18,000. And the machines also bring in business, a store owner said in the report, because customers often end up buying other products at the store.<\/p>\n

The company operating these machines in West Texas, Quad Coin, told CBS7 that the simplicity of the purchasing process has ramped up demand, leading the company to sketch expansion plans.<\/p>\n

Quad Coin founder Mark Shoiket said he founded the company after he “assumed there was demand and people wanted bitcoin everywhere,” reported Reuters<\/em><\/a> in March. He got that right. According to the report, ATMs’ ease of use leads people to make a quick stop and buy bitcoin anytime.<\/p>\n

Eyeing the growing demand and based on successful deployment examples, convenience store chain Circle K announced yesterday that it had partnered with bitcoin ATM company Bitcoin Depot. The collaboration will bring bitcoin ATMs to Circle K stores in the U.S. and Canada, and over 700 machines have already been installed.<\/p>\n

With every convenience, however, comes a cost. In the case of purchasing bitcoin through ATMs, the cost is represented by fees and identification procedures. Some operators charge as much as 30% fees for every purchase at their ATM. And identification procedures range from phone number verification for smaller purchases to ID submission for bigger ones.<\/p>\n

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Bitcoin, which prides itself on free-market structures, game theory, and economic incentives, wins by as many different purchasing options there are in the market. A peer-to-peer market provides an opportunity for privacy-conscious individuals, for instance, while a regulated exchange can offer greater ease of use for online buyers. And different alternatives, given that they encourage self-custody<\/a>, are what likely will drive adoption further.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin ATM units in the U.S. have nearly doubled in a year, indicating a growing demand from retail investors who seek convenience.<\/p>\n","protected":false},"author":2572,"featured_media":15088,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[392,965,806],"class_list":{"0":"post-15526","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-adoption","9":"tag-bitcoin-atm","10":"tag-texas"},"author_data":{"id":2572,"name":"Namcios","nicename":"namcios","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/pfp-96x96.png"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/pasted-image-0-2.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/15526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2572"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=15526"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/15526\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/15088"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=15526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=15526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=15526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}