Local Bitcoin ATM Business in Miami, Florida Says They Are Booming Amid Bear Market
Although the cryptocurrency market is in a bear trend, there are companies that continue to expand and grow in the market. This is the case of a local Bitcoin (BTC) business located in Miami and hat makes Bitcoin ATMs.
At the moment, it is possible to purchase Bitcoin and other virtual currencies in a wide range of Bitcoin ATMs located all over the world. According to Coin ATM Radar, there are around 75 countries with at least one Bitcoin ATM installed in their territory.
In a conversation with CBS4, Alvaro Silva says that he uses the ATM in order to send money regularly to Venezuela. The South American country is currently experiencing a very complicated economic and political situation of hyperinflation and instability.
Andrew Carey, the co-founder of the local company Bitstop, installed an ATM back in 2015 in Wynwood.
“Next thing you know, you have people driving down from Orlando. Driving down from Tampa to use the bitcoin ATM in Wynwood. […] Now we don’t think twice about giving our credit card to the internet. The same thing is going to happen with bitcoin. One day it will be very familiar to see a Bitcoin ATM in an airport. Or see a Bitcoin ATM in a money exchange or a hotel.”
At the moment there are several Bitcoin ATM machines that operate all over the world and that do not take users’ ID to operate. They can give Bitcoin or cash without asking anything about the buyer or seller. In the future, regulatory agencies are going to pay closer attention to this issue and start to regulate the market.
According to Coin ATM Radar, there are 2603 Bitcoin ATMs located in the United States alone, more than 50% of the total number of operative ATMs in the world. Canada and Austria are the following countries with the largest number of ATMs with 702 and 271 ATMs each respectively.
There are several ATM companies that are starting to expand their services to other countries and regions around the world.