Southern California Sees Bitcoin Depot Launch 20 Cryptocurrency ATMs
More BTC ATMs are being placed throughout the country, the market for Bitcoin and other altcoins is rapidly growing – with more and more people accepting virtual currency – there is more mainstream adoption than ever before. For cryptocurrency to be approved by the mainstream public, access to it needs to be simplified, which is why ATMs are essential. As it is now, it is somewhat difficult for most people to convert cryptocurrency into fiat money, but that is changing in Southern California.
We just installed 20 Bitcoin Depot ATMs in a California. Next up, Mars🛸 pic.twitter.com/YNYlrGUfJJ
— Bitcoin Depot (@Bitcoin_Depot) September 5, 2018
Bitcoin Depot is a new cryptocurrency ATM company that has more than doubled their size in the last twelve months. At the time of this writing, there are currently 160 ATMs used by the company, to help cryptocurrency users easily access their money. Not only do they already own many ATMs, but they also are releasing some 7 ATMs each month, a considerable amount by any company standards. They are responsible for the 20 recently placed cryptocurrency ATMs in Southern California, all done in just 30 days.
The company expects to have around 200 operating by the end of 2018. The additional 20 ATMs makes California the state with the most ATMs. More than 400 cryptocurrency ATMs are currently working in Southern California. As for Bitcoin Depot, it’s very likely they will have about 1,000 ATMs operating around the world by the end of 2020.
The company operates out of Atlanta Georgia and has decided to take on the California market as well because of the rapid technological growth that occurs there. Los Angeles, Anaheim, Oxnard, and Pasadena are all the recipients of new Bitcoin ATMs from Bitcoin Depot. The company has been running strong since 2016, building an ultra-strong company structure to supply the needs of the rising crypto-community.
There’s no denying ATMs are vital to mainstream cryptocurrency adoption, which is how Bitcoin Depot sees it as well. One reason that they are so crucial for cryptocurrency use is that many crypto-users don’t have access to a bank account. Bitcoin ATMs are the key to helping people in impoverished countries gain access to their money, as well as have a safe place to store it. Including Bitcoin Depot’s contribution each month, there are roughly 350 ATMs installed each month around the world. It’s not a far stretch to believe there will be ATMs for Bitcoin and other cryptocurrencies in gas stations or stores across the globe in the next 5-10 years.
Are there Bitcoin ATMs in your area? Tell us about your experience with them in the comment section below.