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Bitcoins can be cashed at ATMs, but only in the US

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Bitcoin: Buying from a Bitcoin ATM Machine using cash.

Bitcoins can be cashed at ATMs, but only in the US

Bitcoins can be cashed at ATMs, but only in the US
CONTENT

  • Now you can buy, sell and exchange bitcoins through ATMs

  • Today, 5,000 ATMs have been installed in the US to support the exchange and sale of bitcoin

  • The number of bitcoin ATMs is constantly growing

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The American company LibertyX announced the launch of a whole network of ATMs that allow you to buy, sell and exchange bitcoins for cash. The first 5,000 ATMs have already been installed in the US.

Bitcoin is getting closer

Bitcoins can be cashed at ATMs, but only in the US

Cryptocurrencies can be exchanged for cash not only at the exchange, but also at an ATM. Such an opportunity for US residents was opened by LibertyX, which launched the first 5000 ATMs supporting the sale of bitcoin..

“We are pleased to announce the ability to sell bitcoins and withdraw cash through our ATM network. Consumers can now turn bitcoins into cash in seconds with just a few clicks, ”the company said..

LibertyX partners with independent ATM operators in the United States. As explained in the company, in order to buy or sell bitcoin at an ATM, you first need to select the appropriate function in the mobile application or on the LibertyX website. Next, indicate the nearest ATM where the transaction will be carried out. After that, send fiat currency or bitcoin to the specified wallet address and, having received the order number, withdraw cash from the selected ATM.

“With the price of bitcoin rising, consumers are looking for a way to sell cryptocurrency without facing delays in bank or bank transfers. Consumers can now sell coins for cash directly at the nearest ATM. From Madame Tussauds in Times Square in New York to the Moab Visitor Center in Arches National Park, American consumers can use LibertyX to buy and sell bitcoins across the country, ”said Chris Yim, co-founder and CEO of LibertyX..

There are currently almost 15,000 bitcoin ATMs in the US, but fewer than 2,000 allow consumers to sell cryptocurrencies for cash. LibertyX believes that this direction is very promising, so they intend to further expand the network of bitcoin ATMs.

The number of bitcoin ATMs is constantly increasing

With the growing popularity of cryptocurrencies in the world, the number of ATMs that support not only bitcoin, but also the main stablecoins is increasing..

According to the Norwegian financial services company AksjeBloggen, the total number of bitcoin ATMs (ATMs) in the world has been showing strong growth lately. As recently as June, the BeInCrypto editorial staff reported that there are about 8,000 BTC terminals in the world. Meanwhile, as of early September, the figure was, according to AksjeBloggen, 9,680, showing an increase in annual terms of 167%.

Bitcoins can be cashed at ATMs, but only in the US

Most of the ATMs are designed to use bitcoin, but there are machines that allow you to exchange stablecoins for fiat currencies. Canadian cryptocurrency operator Instacoin has added support for stablecoins, including Tether, to its ATMs. In addition to USDT, ATMs support DAI, USDC, PAX, Gemini Dollar (GUSD) and TrueUSD (TUSD) tokens.

Users can purchase coins up to CAD 10,000, with a single transaction not exceeding CAD 1,000. dollars. Bitcoin transaction fee is CHK 5. dollars and about 1 dollar for other cryptocurrencies. ATMs are also actively used in crisis economies, in particular, in many countries of South America.

And at the end of spring 2020, the largest Russian bank Sberbank was actively purchasing ATMs with blockchain technology. In total, Sberbank will allocate over $ 108 million to the project. Thus, the financial institution wants to expand the network of contactless ATMs that allow customers to perform basic banking operations without the participation of bank employees.

 

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