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New Deal could turn 100,000 ATMs into Bitcoin Vending Machines

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Bitcoin ATMs

At the moment, there are 3,907 cryptocurrency Bitcoin ATMs present troughout 77 countries, says Coin ATM Radar.  However, those numbers will skyrocket due to a new deal in the U.S.

Bitcoin ATM Company and Manufacturer of ATMs,  Genmega, Forge a Partnership

A deal between these two companies can provide the possibility to purchase Bitcoin at up to 100,000 ATMs throughout the U.S.

According to a tweet from LibertyX, “Excited to partner with #Genmega & launch America’s first bitcoin debit ATM. We launched the first bitcoin cash ATM in 2014 & now are bringing you another first! ATM operators, learn how to earn $$$ by adding bitcoin to your ATM at the Genmega booth…”

Furthermore, overall success depends on Genmega’s willingness to upgrade the software in all their ATMs. However, when – and if it happens, customers can use these ATMs to purchase BTC. Additionally, they can receive them directly into their crypto wallets.

The Global ATM Market could be Worth $145 Million

By 2023, the global ATM market could be worth as much as $145 million.  This is according to a study by a B2B firm, Markets and Markets. Moreover, they note that the market could exhibit an annual growth rate of 54.7% over the next five years.

However, the largest market involving cryptocurrency ATMs by 2023 will continue to be North America. It currently commands 73% of the market with the United States as the leader.

“The US is expected to continue to dominate the crypto ATM market during the forecast period owing to the presence of a large number of crypto ATM hardware and software providers and favorable investment environment (without any legal barriers),” the report titled “Crypto ATM Market – Global Forecast to 2023” noted.

“In 2017, the Government of Mexico declared bitcoin legal. In addition, Canada has recorded extensive start-up activity, especially for cryptocurrency.”

 


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