Is The BTC ATM Market Still Growing? by doitvoluntarily

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leofinance · @doitvoluntarily · Oct 1 '22

$10.26

Is The BTC ATM Market Still Growing?

<center>https://cdn.pixabay.com/photo/2017/08/14/14/38/bitcoin-2640692_960_720.png</center>
The number of BTC atm locations has been growing to spread to multiple countries around the world today. However, this year there have been reports of a slowdown for bitcoin ATM installations.

As well, there seem to be a number of machines that might have also been taken offline this year. Despite some being taken offline though there are new ones coming around to areas that are seeing more growth and btc atm prevalence.

Some have criticized that news about any slowdown, saying it might be a tad bit exaggerated.

It seems that over the years the number of ATMs has been growing to new areas. Though there is also the risk [that they might be ordered](https://www.bbc.com/news/technology-60709209) at one time or another to be closed.

The bitcoin ATM machines offer another option for people to access cryptocurrency who are unbanked or who don't want to go the route of alternatives.

The bitcoin ATM machines are not the only way for people today to access their cryptocurrency.

Over the next several years it is anticipated that this market for machines will continue to grow. Some markets might see more progression than others though and that's only natural.

For those areas where installation might be slowing down, is that because there are multiple other alternatives for accessing this market? How widespread is availability of machines in that area already? The US for example comes in at the top for one of the countries with the most bitcoin ATM installations.

<center>https://cdn.pixabay.com/photo/2022/08/24/19/18/atm-7408590_960_720.jpg</center>

For those using traditional means of payment today, how often do they go to the ATM? Most people are paying with cards and debit, they don't walk around with a lot of cash on them.

It isn't a regular thing perhaps for many to be visiting the ATM machine, maybe once a month if that. For some it could be more often though but in general when there are issues with payment systems we see a run to the bank because most people *don't have much cash on them*.

Are ATMs the most convenient way for people to access their funds or get into cryptocurrency? It is always good to have more options and this might be an easier or more accessible way for some than others. It is arguable whether it is the most convenient, that depends on individual circumstances and needs.

A decline in the number of ATMs isn't a good thing for those who are looking for one, removing bitcoin machines reduces options in the market for them. It is expected over time though that we might see more products come about to fill the void and further cryptocurrency accessibility so that those who don't have an ATM nearby won't struggle to get their needs met.

Pics:
pixabay
*This is not financial advice*.
Sources:
https://cointelegraph.com/news/bitcoin-atm-installation-slowdown-continues-for-4th-month-in-2022
https://www.politico.com/news/magazine/2022/07/06/bitcoin-atms-regulations-00035083
https://www.forbes.com/sites/mariagraciasantillanalinares/2022/08/08/crypto-atms-lose-traction-in-tarnished-market/?sh=16c175221731

👍 znnuksfe, tipu, redes, spectrumecons, reward.app, ace108, captainhive, petrvl, boatymcboatface, teammo, methodofmad, jang, scooter77, captainquack22, thelogicaldude, aichanbot, belahejna, zoidsoft, iliyan90, tamaralovelace, happyfrog420-new, thaiteam, theshell, el-dee-are-es, bnb-hive, kryptogames, atongis, p-hive, sbi4, anacristinasilva, builderofcastles, organduo, dcityrewards, ississ89, jaybird, kingscrown, vegoutt-travel, xplosive, janyasai, babytarazkp, exyle, khaleelkazi, roflie, greenforever, reazuliqbal, rosalestrust, felander, velinov86, dappstats, iansart, randomblock1, koychev22, dlike, tonytrillions, hivecannabis, dontcare89, rankmeupclub, diyan3973lenkov, b-leo, icetea, wrapped-leo, maajaanaa, alicewonderyoga, chloem, and 47 others
👎 xtipu

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@ace108 · Oct 2 '22

$0.03

Not for here. They sort of been ban here.

👍 doitvoluntarily

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@doitvoluntarily · Oct 2 '22

that's too bad,  people deserve freedom of choice

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@ace108 · Oct 3 '22

$0.03

They even ban the advertisement.

👍 doitvoluntarily

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1 reply

@robibasa · Oct 1 '22

$0.02

@tipu curate

👍 doitvoluntarily

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@tipu · Oct 1 '22

<a href="https://tipu.online/hive_curator?robibasa" target="_blank">Upvoted  &#128076;</a> (Mana: 6/46) <a href="https://peakd.com/hive/@reward.app/reward-app-quick-guide-updated" target="_blank">Liquid rewards</a>.

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@thelogicaldude · Oct 2 '22

$0.03

I used to love the idea of the ATMs, but man, they are mostly all scams. Not so much in the way they steal your money, but the fees are ridiculous and that is on top of the extremely inaccurate exchange rates. But, it's a way out to cash if you need to. The one in my area lets you do up to $200 without providing a license. But then you only end up with like $180 after fees, lol.

👍 doitvoluntarily

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@doitvoluntarily · Oct 2 '22

$0.06

you would think they'd look to do *better* than the legacy banking system... not worse. 💀

👍 thelogicaldude

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@xplosive · Oct 1 '22

$0.02

I heard about anonymous Bitcoin (BTC) ATMs in Europe. There would be good to have "universal" cryptocurrency ATMs. I mean ATMs, which would be able to handle other cryptocurrencies too.

👍 doitvoluntarily, dustbunny

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