Utah Sees Big Increase in Bitcoin ATMs and Crypto Teller Machines Being Setup
Utah Registers An Increasing Number Of Bitcoin ATMs
At the moment, there are 12 different Bitcoin ATMs that are operating in Utah, but they are growing in number at very fast rates. According to KSL.com, the crypto company CoinCloud is operating 11 of these 12 crypto ATMs in the state.
CoinCloud is an crypto-related company that is located in Las-Vegas and offers services in 22 different states in the US.
The company’s CEO, Chris McAlary, CoinCloud launched the first Bitcoin ATM (also known as BTM), in Sandy at Game Haven in 2015. He explained that in Salt Lake City they have an important audience of millennials that are bitcoin enthusiasts and that want instant access to these services.
He then explained how the BTM works and how easy is to use it with a mobile phone. The company has also released to the market a mobile application that works with the ATMs.
There are also different businesses that have started to adopt cryptocurrencies as a means of payment. Utah is becoming a very open place towards virtual currencies with new businesses working with Bitcoin and with 12 BTMs installed in the state.
According to BTC Utah, a bitcoin organization in the state, merchants like virtual currencies since they are cheaper and transparent.
“Merchants love (cryptocurrency) because processing fees are near zero and there’s no chance of fraudulent payment or counterfeiting. It isn’t owned or controlled by any government, company or corporation, and it exists only online.”
Furthermore, the crypto organization explained that Bitcoin is perfect for small business because the cryptocurrency offers low fees and does not require special equipment to be accepted.
Around the world, there are different countries with Bitcoin ATMs installed. The United States is the country with the largest number of crypto ATMs installed (2259). Canada is second in the list with 669 ATMs and Austria is third with 241 ATMs located in the country.
As more individuals and companies start using virtual currencies and Bitcoin, new ATMs will be installed all over the world.