An Overview of Crypto ATMs

In the past decade, the cryptocurrency sector has grown significantly. There are different types of cryptocurrency at the moment. However, the most common cryptocurrency is Bitcoin. Bitcoin was created by Satoshi Nakamoto in 2008. Since then, the cost of Bitcoin has been fluctuating significantly. There were times when one Bitcoin was worth $20,000. Although the prices have been fluctuating, people have begun to endorse the use of Bitcoin globally.

With the advent of cryptocurrency, firms such as CoinFlip have gone ahead to come up with crypto ATMs. The crypto ATMs are in the form of teller machines, and clients can easily sell and purchase cryptocurrency anonymously. In 2008, there was a significant increase in the number of crypto ATMs globally. The acceptability rate of the cryptocurrency is also growing daily; as a result, more crypto ATMs will be put in place to ensure that people can easily purchase and sell cryptocurrency.

Most of the crypto ATMs enable people to sell and buy Bitcoin and other types of cryptocurrency, including Ethereum, Litecoin, and Dash. Over the years, different types of cryptocurrency have also emerged, and they include Zcash, Monero, and Dogecoin. Each of these cryptocurrencies has recorded some significant gains over the years.

The cryptocurrency sector has improved significantly, especially when it comes to locating crypto ATMs. There is a Coin ATM Radar platform that usually enables people to find the crypto ATMs that are nearby easily. In North America, there are more than 3,000 crypto ATMs. Approximately 1,200 of these crypto ATMs are located in the United States. Other regions such as South America, the United Kingdom, Australia, and Central Europe also have a significant number of crypto ATMs. The increase in the number of crypto ATMs is a clear indicator that a huge population globally has accepted cryptocurrency as an alternative to the normal currency.

About CoinFlip

CoinFlip is an American corporation being led by Daniel Polotsky. Daniel Polotsky is the chief executive officer of the Bitcoin ATM firm. Over the years, various media houses have managed to engage Daniel Polotsky. According to Polotsky, the first Bitcoin ATM has been installed in Chicago. The idea about a crypto ATM was somewhat intriguing. Although the first Bitcoin ATM hadn’t met the expectations of the users, the main focus was on the concept. Also, the Bitcoin ATMs should have had an interface that is more user-friendly.

The crypto ATMs usually ensure the work of a local cryptocurrency trader has been automated. The ATM can also handle hundreds of transactions monthly. At the moment, CoinFlip has managed to install more than 120 ATMs throughout the United States. The company has ensured that clients have a platform whereby they can sell and buy six different types of cryptocurrency using a credit card or cash. The CoinFlip platform enables users to sell and purchase Bitcoin, Komodo, Tron, Dash, Ethereum, and Litecoin.

The concept by CoinFlip is also different since the users can purchase and sell cryptocurrencies regardless of whether or not they have a bank account. The transactions are also processed in the shortest time possible.