Utah Sees Rise Of Bitcoin ATMs As More Firms Accept Crypto For Payment

By Kapil Gauhar

As the crypto market continues to pick the attention, more nations are perceiving how they can make use of them. One way is through Bitcoin ATMs.

As indicated by CoinATMRadar, there are 3,824 Bitcoin ATMs situated across the world in 76 countries. The US makes up the most with 2,259. This is even followed by Canada with 669, the UK with 204 and Austria at 241.

In Utah, there are presently 12 Bitcoin ATMs. One is situated in the city of Bountiful, two are in West Jordan and the nine in Salt Lake City. A cryptocurrency company, CoinCloud operates 11 of the ATMs in Utah.

CoinCloud CEO, Chris McAlary said –

“We launched our first (BTM) in Sandy at Game Haven in 2015, and its has always been one of our best locations. The market here in Salt Lake City has always been very tech savvy, and I think we get a lot of millennials. People really like Bitcoin and want instant access to it.”

Such is the ascent of the crypto market that numerous businesses have begun to accept Bitcoin as a type of payment, the report notes. BTC Utah, Utah-based pro-Bitcoin association, claims that businesses like digital currencies as a result of the low charges and the end of false payments.

BTC Utah said that it’s simply perfect for small business, adding:

“It isn’t owned or controlled by any government, company or corporation, and it exists only online.”

A month ago, it was accounted that Bitcoin ATMs in Greece were set to ascend in the following couple of months. At the time of the report, it was noticed that there were 10 ATMs in the nation by then. However, the figure has now risen to 13.

Increasing Demand

As the crypto market continues to grow in its value, the demand for crypto ATMs too is increasing rapidly. With greater and simple access to the business, this is supporting its adoption to the vast number of individuals.

However, as the quantity of Bitcoin ATMs grows, so does the risk introduced to them. A report in August proposes that malware that influences the machines is being sold on the dark web. The crypto ATM market is set to develop from $16.3 million out of 2018 to $144.5 million in 2023.

Kapil Gauhar

Kapil Gauhar is the founder of Blogger’s Gyan. He is a Passionate Blogger, a Big Thinker and a Creative Writer.

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