A popular Bitcoin (BTC) ATM operator, CoinHub, is creating positive waves in the development of the crypto industry with its innovative contributions. CoinHub has teamed up with more than 1,000 retail stores and gas station owners to place new Bitcoin ATMs.
According to Coinhub’s press release on Monday, April 3, these latest partnerships aim to expand the company’s reach. Also, making it effortless for clients to buy and sell Bitcoin and other digital assets with cash. By partnering with stores and gas stations, Coinhub can install Bitcoin ATMs in areas with high visibility and foot traffic for the convenience of users.
Moreover, it is an opportunity for owners of gas stations and stores to earn passive income in the form of monthly rent from Coinhub.
Coinhub noted in a press release:
“This partnership will give users the option to buy Bitcoin with cash and take advantage of the many benefits that come with using a Coinhub Bitcoin ATM.”
Due to the recent failures of Silicon Valley Bank, Signature Bank, and Silvergate Bank, there are few trusted banking partners left for crypto companies and their customers. Thus, the new partnerships signed by Coinhub will add at least 1,000 new operational machines to support the affected industry.
Store and gas station owners interested in hosting a Bitcoin ATM can visit coinhubatm.com/host and enter their stores’ details.
The best way to stay anonymous is to register with crypto ATMs provider such as Coinhub. With registration, you can securely and instantly deposit and withdraw BTC or one of 25 other cryptocurrencies via ATMs.
Bitcoin ATMs Are Simplifying The Crypto Industry
Bitcoin ATMs are also known as BTMs. We can also use them to send BTC to another person. Privacy, ease of use, and allowing people to control their own digital assets are the most notable advantages of Bitcoin ATMs. The negative side is high transaction costs, as they can vary from 5% to 20%.
Online purchasing of cryptocurrencies requires a credit card or bank account. But, Bitcoins ATMs adopt an alternative method to it, where users can follow the step-by-step instructions shown on the screen to complete the transaction. Hence, these ATMs are user-friendly, especially for those who want to join the crypto space.
Meanwhile, Bitcoin ATMs are sometimes attacked by scammers and hackers. In November 2022, the Federal Bureau of Investigation (FBI) cautioned people about scams involving crypto ATMs and quick response (QR) codes to facilitate transactions.
According to Coin ATM Radar, there are currently 28,922 crypto ATMs working in the US (United States), and the number is growing daily as interest in cryptocurrencies grows. However, the US dominates due to the highest number of crypto ATMs available.
Meanwhile, Tradinbrowser’s research shows that BTC ATM adoption is more in regions with less developed financial structures.