The Rise of Crytocurrency ATM’s and CoinFlip

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Although crytocurrency ATM’s have been in existence for less than a decade, there are now over 7,000 of them around the world, and they are in operation in 75 countries. Although most of these machines trade in the Bitcoin currency, others provide service with less common cryptcurrencies including Litecoin, Dash and Ether. 

The first crytocurrency ATM was put into operation in 2013 in Vancouver, Canada by a company named Robocoin. It was located in a coffee shop, and many people visited it immediately to convert Bitcoin currency to cash and the other way around. Today, roughly 6,999 crytocurrency ATM’s later, it’s pretty clear the trend has caught on! currently, about 42 different companies manufacture and service these ATM’s. There is now a crytocurrency ATM in the Miami airport and in many other locations where international travelers are common. 

Of the entire 7,000 ATM’s, roughly a thousand were installed in the last year alone. In fact, one company put in five machines in five different malls in a single workday! It all reflects the public’s increased comfort with using crytocurrencies and their resulting increase in popularity. This is a trend that, as with other technologies, is likely to snowball now that a certain tipping point in public acceptance has been reached. 

Cryptocurrency ATM’s generally have step-by-step instructions printed out on them, and they are typically as easy to use as a conventional ATM’s. To buy cryptocurrencies, you select they amount you want, indicate where you want it deposited, then make the purchase with either cash or credit. Most of these machines are “one way” ATM’s, which means that you can only use conventional money to buy Bitcoin and other currencies. However, some allow you to trade one type of crytocurrency for another. 

About Coinflip

CoinFlip is a United States company that has the mission of operating crytocurrency ATM’s that are convenient and easy to use. They trade in nine different crytocurrencies, and this is partly why they are the leading company of their type in the United States. 

The CoinFlip website has a highly intuitive and visually appealing map feature that allows the user to quickly locate a CoinFlip ATM near them, and they are located all over the United States. Big cities have many of them, of course, but smaller communities are represented as well. Perhaps the most common type of transaction at these machines is simply using a debit card to buy Bitcoin currency. 

CoinFlip likes to brag about its low fees, and, as its infrastructure grows, these are getting lower. Transactions are extremely fast, and the company support team is easy to reach. If you are interested in using CoinFlip for the first time, the best way to learn more is to check out the videos on their website that show users walking through the process of buying and selling cryptocurrencies on actual ATM’s. 

The team at the company is excited about the work that they are doing. They believe crytocurrencies represent the future of money. 

 

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