Bitcoin Depot, a Bitcoin ATM network based in Atlanta, Georgia, recently added 115 new Bitcoin ATMs in 24 states in the US. The 115 new Bitcoin ATMs are spread across Alabama (14 kiosks), Minnesota (13 kiosks), Florida (12 kiosks), and California (12 kiosks).
As such, Bitcoin Depot has doubled the number of its Bitcoin ATMs to more than 2,000 kiosks across the US in just the last six months, a development on record for the fastest in the world.
The Bitcoin Depot developed Bitcoin ATM allows many people to convert their cash into cryptocurrency or vice versa, transfer or pay bills, and invest in cryptocurrencies.
“Cryptocurrencies offer many opportunities for people who don’t have access to traditional financial services such as banks,” said President and CEO of Bitcoin Depot Brandon Mintz, in Atlanta, Wednesday (17/3).
Until now, Bitcoin Depot’s Bitcoin ATM serves transactions of several cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH). As the Bitcoin ATM network it owns, Bitcoin Depot expects its revenue to grow 200% this year.
Please note, Bitcoin Depot is not the only Bitcoin ATM provider in the US. One year before Bitcoin Depot was founded in 2016, Bitcoin ATMs were developed by CoinFLip, a Bitcoin ATM provider from Chicago, Illinois, which now has 1,841 kiosks in 50 states.
Genesis Coin, Covault, Coinme, and Coinsource are a line of other Bitcoin ATM providers on the US market. Meanwhile, in other countries there are General Bytes (Czech Republic), Lamassu (UK), Bitaccess (Canada), Bitxatm (Germany), Orderbob (Austria), and Rusbit (Russia).
According to market research firm MarketsandMarkets, the cryptocurrency ATM market in the world is expected to grow rapidly from US$6.8 million in 2017 to US$144.5 million in 2013 driven by the public interest in using cryptocurrencies.
To date, based on Coinmarketcap.com data, there are 8,884 tokens worldwide and have formed a market capitalization of nearly US$1.8 trillion. Of all the existing tokens, Bitcoin remains the token with the largest market capitalization, reaching more than US$1 trillion.