Everyday Crypto Use and the Rise of ATM Machines

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Everyday Crypto Use and the Rise of ATM Machines
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The creation of the first cryptocurrency happened in 2009 and back then nobody could predict that Bitcoin would become so popular among the population. Most people on the planet didn’t even know about the existence of the blockchain technology up until the insane price milestones of BTC in 2017. Since then, Bitcoin slowly but surely started to find its way into the daily lives of people. At the same time, blockchain technology is becoming greatly utilized in various powerhouse industries of the global economy. Today, it’s a fact that cryptocurrencies have the ability to be useful in all types of financial operations and be used by the representatives of various generations of people. Although the progress is astonishing, can people truly use only cryptocurrencies on a daily basis and live without any constraints? 

 

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Can people only use crypto?

When back in 2010, programmer Laszlo Hanyecz paid 10,000 BTC for 2 Pizzas, people realized that cryptocurrencies can have value and be used for simple, every-day transactions. The attitude of society towards BTC and other popular cryptocurrencies is completely different, compared to what it used to be half a decade ago. Today, people from every generation can easily convert their money into cryptocurrencies. Purchasing virtually anything is possible using cryptocurrency. Although not yet enough to match the banks, there are still lots of fashion outlets, service providers, grocery stores, utility agencies and various different establishments that welcome Bitcoin and other virtual currencies as the form of payment. Aside from virtual payments, there are Crypto ATM machines that are already installed all around the planet to simplify the conversion of BTC to actual Cash. Looking at the facts, cryptocurrencies are already primed to be utilized on a daily basis, and the popularization will only keep on growing. 

 

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More Demand on Crypto ATM Machines.

There are available ATM Machines in almost every country in the world right now. People can freely use Crypto ATM machines to withdraw or store their money. The demand for those grows all over the globe and their numbers keep exponentially rising.  In 2018, there were around 2000 Bitcoin ATM stands in total around all continents. The best outcome was that all the major and capital cities had at least one installed. According to the reports in 2020 the number of those ATMs reached over 7500 units and it’s planned to install considerably more by the end of the year. These machines are extremely easy to use and they serve a simple purpose. Users can easily deposit their cash and convert to cryptocurrencies, or withdraw their virtual funds, automatically converting them into cash. These conversions happen according to the current rate of BTC. The only necessary thing to provide is a wallet address and the amount of transaction. There’s a reason why Crypto ATMs are considered to be the perfect bridge between FIAT money and digital currencies.  

 

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ATM Use grows even during the Pandemic

Even something as crippling for the world economy as the ongoing Covid-19 pandemic can’t stop the progress and innovation provided by cryptocurrencies and blockchain. While almost every financial entity and global business is experiencing severe losses and massive turbulence, the use of BTC ATM Machines is rising all across the world. Reports show a 70% increase in the use of those machines in the United States and experts believe that by the year of 2024 there will be around 64,000 ATM machines in the world. Society is buying Bitcoin because of its steadily rising price and in process, easily converting cash for digital assets. Considering how well Bitcoin is dealing with the financial crisis, more blockchain popularization is surely on its way in the near future.

 

Contributed by George Khmelevski

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