Now that the cryptocurrency markets are taking a breather, investors who are looking to buy the bitcoin dip can increasingly do so at a bitcoin ATM.
The number of crypto ATMs is on the rise, with the U.S. representing the biggest piece of the pie, at 87.2%, or 27,266 machines, according to Coin ATM Radar. These kiosks give users the opportunity to buy bitcoin with cash and a mobile phone instead of having to link a bank account or card. In some cases, users can also cash out of their crypto holdings.
Coin Cloud’s Travel Expansion
Most recently, Coin Cloud machines have made their way to the city of Williston, N.D., which is also known as an oil town. Williston announced it will host what it described as a “Digital Currency Machine (DCM)” at the Williston Basin International Airport (XWA).
While there are plenty of bitcoin ATMs around, this one represents a notable milestone. It marks the first time that Coin Cloud has installed one of its machines at an airport, paving the way for them to expand into the travel industry. It is conveniently positioned before passengers go through security and near the baggage carousel. Williston finance chief Hercules Cummings stated in the announcement,
“A main objective behind this DCM is to bridge public curiosity to acceptance and portfolio adoption of a growing asset class.”
The city of Williston is crypto friendly and already has a partnership in place with BitPay that allows city utility bills to be paid in digital currencies. In addition to bitcoin, Coin Cloud’s machines support Ethereum, Dogecoin, Shiba Inu and other coins.
Anthony “Pomp” Pompliano, host of “The Best Business Show” on YouTube, recently discussed what he described as an “exploding” number of bitcoin ATMs that are popping up with Coin Cloud CEO Chris McAlary.
We’re going to talk bitcoin on-chain metrics and then break down the largest Bitcoin ATM business.
— Pomp 🌪 (@APompliano) November 16, 2021
The Las Vegas-based company is doing its part to bring cryptocurrencies mainstream. They currently have kiosks installed at 4,500 locations across retailers, convenience stores, and other places.
Coin Cloud’s total sales are in the hundreds of millions and at the current rate, they are anticipating making it into the billion range by the end of the year. Coin Cloud lets users buy crypto but also cash out, which McAlary says drives a lot of traffic to their kiosks.