"It is an agreement between the Bitcoin firm LibertyX and the traditional teller manufacturer Genmega. However, the final implementation will depend on the operators of the ATMs."
The bitcoins firm LibertyX and the regular manufacturer of Genmega ATMs have forged a partnership that will allow them to buy bitcoin using a debit card in up to 100,000 locations in the United States.
1/2 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 @NACAssociation # NAC2018 pic.twitter.com/zh0W3pIpdY
- LibertyX (@libertyx) October 15, 2018
However, given that Genmega is largely aimed at independent ATM implementers, adding the purchase feature of bitcoins at ATMs will depend on the willingness of operators to offer the service. After making an application, all that will be required will be a software update to allow users to buy bitcoins from the vending machine and send them to their crypto currency wallet.
Easy to use
The development will be a blessing for new users, especially because the process of buying bitcoins from ATMs is not very different from withdrawing money from a vending machine. According to LibertyX, making cryptocurrency vending machines easy to use has been a priority for the Bitcoin ATM company since its founding.
"We have been working tirelessly to facilitate the purchase of cryptocurrencies over the past five years and now we are providing simplicity, convenience and confidence to the cryptocurrency shopping experience," said Chris Yim, co-founder and CEO of LibertyX, in a statement. .
At present, the number of bitcoin ATMs in the United States is almost 2330, which is the highest in the world, with the main urban areas such as Los Angeles, Miami, Atlanta, Chicago and New York, which have more of 100 vending machines. in every city. According to Coin ATM Radar, the United States is also home to Genesis Coin Inc, the world's leading bitcoin ATM maker, with a market share of over 32%.
Dominion of the United States to continue
Several factors have contributed to the United States being the leader with respect to Bitcoin ATM coverage and this includes the high level of awareness and adoption of the cryptocurrency. A recent market research report has indicated that this will continue to be the case for the foreseeable future.
"It is expected that the United States will continue to dominate the crypto ATM market during the forecast period due to the presence of a large number of crypto ATM hardware and software providers and a favorable investment environment (without legal barriers)," crypto ATM market research report released in August recently stated as reportedCCN.
Although it remains to be seen what part of the 100,000 Genmega ATM will adopt the bitcoin purchase function, even a small percentage would significantly increase the amount of Bitcoin ATMs not only in the United States but globally. At this moment, the number of Bitcoin ATMs in the world is just over 3,800 with an average of 5.58 bitcoin ATMs that are added daily.