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You should know that Bitcoin ATMs can be accessed by anyone in the same way as you do a conventional ATM but without need for a bank card, this gives millions of unbanked people the opportunity to access cryptocurrencies.
The truth is that to buy bitcoin you only need cash, therefore the demand for Bitcoin ATMs is growing more and more. A recent study states that in the 2021 installation Bitcoin ATM’s has risen by as much as 71% worldwide.
We are talking about some 14, 000 ATMs that you can access to buy cryptocurrencies, and you only need your cash, you don’t need a bank card .
This is one of the reasons why the interest in cryptocurrencies grows, because it does not tie anyone to the conventional banking system, which attracts the unbanked. So far the daily rate of installation of cryptocurrency ATMs is approximately 52 daily tellers.
“We have entered a new era in that traditional bank accounts can be replaced by digital wallets, “said a Bitcoin Depot executive to the digital portal” Cointelegraph. “
A study stated in the middle of the year that it is likely that more than , although not knowing that financial world generates fear in Americans, Still buying bitcoin at ATMs is attractive to the unbanked and to certain generations seeking a life with less complicated methods.
This is the case of Baby boomers and millennials, these c make up the highest volume of transactions in bitcoin ATMs, so far.
In this sense, a few weeks ago the ATM operator of Bitcoin, Coinflip, conducted a survey on their social media to ask how many of their followers bought cryptocurrencies at ATMs, and they were surprised that only a minority of the 27. 8 percent had used them, while a 72, 2 percent have never used a Bitcoin ATM.
Have you used a #bitcoin ATM before?
– CoinFlip (@CoinFlipATM) July 6, 1200
However, there is also another audience that may be attracted to bitcoin ATMs and it is tourists or temporary workers. But the real audience that Bitcoin ATM operators want to target is the unbanked.
In the United States more than 6% of households or what is equal to 14. 1 million American adults do not have an account. bank currently, or any relationship with a regular financial institution.
So it does bet on the multiplication of cryptocurrency ATMs for the future. It is estimated that for the 2025 there are at least 80, 000 ATMs throughout the United States.
In this sense, ATM providers are optimistic, either with the installation of ATMs within the United States or outside of it. This is demonstrated by companies such as Athena Bitcoin, a US company that began the installation of bitcoin ATMs in El Salvador, the country where now the cryptocurrency is legal tender. These are the first of 14 of a first stage this supplier company.