DigitalMint to Setup More Bitcoin ATM Locations to Exploit Increased Adoption Rates
DigitalMint Installs Bitcoin ATMs to Exploit Increased Adoption Rates
Lately, there has been an increase in the number of cryptocurrency ATMs. This means that the rate of acceptance of digital assets is growing steadily. DigitalMint wants to capitalize on this interest by offering cash purchase for crypto assets.
The rapid rise in the value of Bitcoin in 2017 created a lot of attention for the cryptocurrency sector. There was a mass influx of new crypto investors, but a majority of them did not know how to buy digital currencies. This problem has since been solved with the introduction of assistance tools such as crypto ATMs that are now popular around the world.
In the US, most of the states have crypto ATMs installed in their major cities. Unstable economies such as Argentina are resorting to virtual currencies as the substitute for their devalued fiat money. Also, India and Greece have expressed interest in cryptocurrencies.
Recently, DigitalMint opened a retail outlet in Idaho. The Bitcoin ATM and Teller firm is looking to exploit the increasing interest in their products. As of now, the company has over 170 outlets spread across 19 states. On top of this, the company intends to establish an extra 100 stores soon.
Advantages of Using Cash
The Bitcoin ATMs are mostly installed in strategic locations such as EZ Money Check Cashing premises. The staff of these establishments are trained to assist clients who want to use cash to buy crypto assets. The support for cash purchases is aimed at encouraging the unbanked population who do not have bank cards to join the crypto space.
The second reason for using cash is the irreversibility of its transactions. Dishonest clients usually chargeback or reverse transactions made using credit cards. As a result, DigitalMint incurs massive losses. On the other hand, once cash is given in exchange for a service, it cannot be reversed.
The Increasing Adoption of Virtual Currencies
Crypto ATMs are an ideal gateway for people looking to delve into the cryptocurrency trading sector. Their prevalence in many parts of the world is an indicator of the popularity of crypto assets is growing rapidly. Besides the increasing interest, the rate of adoption is equally soaring.
Several merchants across the globe are currently accepting cryptocurrency payments. In London, there is beer brewer that exclusively allows cryptocurrency payments. The brewery also offers a beer whose price is hedged on the London’s Financial Times Stock Exchange 100 Index.
The increasing interest in cryptocurrencies will compel companies in the sector to establish means of onboarding the masses. Such methods include creating wariness on digital assets and affording more buying opportunities to prospective clients.
Currently, fiat money is favored over digital currencies in most jurisdictions. However, the increasing adoption of cryptos implies that this dominance could end soon.