Bitcoin Of America adds Ethereum purchases to its ATMs

Increasing demand for cryptocurrencies has encouraged the introduction of ETH at Bitcoin Of America ATMs

Bitcoin ATM provider Bitcoin of America has added Ethereum to its array of Bitcoin ATM machines (BTMs) across the US.

It says it made the move due to the growing popularity of the asset.

With nearly 1,400 locations across 31 states in the US, Bitcoin of America ATMs enable customers to purchase cryptocurrencies such as Bitcoin and Litecoin. The group is now responsible for around 5% of the Bitcoin ATMs installed throughout the US.

In May, Bitcoin of America introduced a ‘Universal Kiosk’, which allows customers to purchase cryptocurrencies in three different ways.

Customers can dispense cash from a debit card, buy cryptocurrencies with cash and sell their crypto in return for cash at a BTM.

Customers can also wire payments, make payments at a store location and receive coins the same day.

The rampant growth of Crypto ATMs

Following record adoption and mainstream attention in cryptocurrencies and Bitcoin, crypto ATMs have introduced an easier and more familiar way of purchasing Bitcoin for consumers.

The United States is one of the worlds largest users of crypto and Bitcoin ATMs, with an estimated 25k machines located across the US.

Crypto ATM

The number of Bitcoin ATMs installed worldwide has also reached an all-time high of approximately 28k machines.

Interestingly, the United States contributes to 86.4% of the global crypto ATM market – showing the demand is there for US-based consumers looking to gain exposure to Bitcoin.

Crypto-based ATMs are also becoming more prominent in El Salvador, with an estimated 205 ATMs now in use across the recently “Bitcoin-pilled” nation.

However, not all citizens have embraced Bitcoin ATMs as gracefully as the US. During a recent protest against Bukele, protestors burned down a Bitcoin ATM in an effort to rebel against the acceptance of Bitcoin as legal tender in El Salvador.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

Previous Article

Musk says governments should 'do nothing' about crypto

Next Article

Algorand (ALGO) deploys ground-breaking smart contract upgrade

Read More Related articles