The world’s fastest developing multi-cryptocurrency ATM network is up by 85% due to contactless payments in the year 2020. Bitcoin ATM establishments have surged this year in numbers, surpassing the increase of last year’s 50% significant rise.
The increase in number signifies the growing interest of people in the crypto-currency field to use it as a payment method. Due to the effects of the COVID-19 pandemic, people prefer to choose contactless payment methods this year as per Global Trade Magazine.
A bitcoin automated teller machine enables an individual to deal in cryptocurrency in exchange for cash. The increase in Bitcoin ATM networks allow for the continual growth of crypto adoption.
The borderless network of Bitcoin expedites smooth transactions from one place to another around the world via smartphones or computers. It charges a significantly small amount of fees as compared to banking charges.
In the month of October, companies in United States alone installed 800 ATMs. According to Coin ATM Radar, the U.S easily leads the world in terms of ATM adoption. Other countries like Canada and Germany are not too far behind either.
With the integration of crypto-currency in platforms like Paypal and Cash App, the mainstream adoption of Bitcoin and other coins continues to grow this year. The expanding network of ATMs are certainly a popular way people can easily trade cash for for their first Bitcoin.