Crypto ATMs on the Rise, Despite Turbulent Markets

US Bitcoin ATM operator talks ‘rapid expansion’ in 2022 alone.

Crypto ATMs on the Rise, Despite Turbulent Markets

It seems that recent market instability has not yet affected every single corner of the cryptocurrency world. A part of the industry is still resisting pesky volatility, and we can even say it is booming in front of our very eyes.

Bitcoin of America a U.S. crypto ATM provider has revealed in a recent press statement that they have rapidly expanded the number of Bitcoin ATMs across the United States. Just three months ago, in March 2022, there were around 1,800 Bitcoin ATMs around the country. The number since has risen 38% to more than 2,500 at present.

The company has addressed the rapid growth saying it wanted to accustom its services to customer demand:

“Bitcoin of America realized the importance of offering a wide variety of different cryptocurrencies and decided it was time to make the addition.”

Customers are said to increasingly seek out the Bitcoin kiosks in question in times of uncertain volatility, since the ATMs do not require any KYC evaluation of their clients. However, government authorities are rather concerned about the possibilities it offers to those who dabble in illicit activities and promise to address the issue.

The fact is that crypto ATMs are ever so slightly becoming more and more popular, which is also evident from their global increase throughout 2022 alone. However, as it happens, these are also expected to be subject to regulation sooner rather than later.

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