Coinhub Installs Additional 1,000 Bitcoin ATMs Despite Crypto Crackdown

By Kevin • April 7, 2023 11:25 am • Comments

Bitcoin ATM operator Coinhub is continuing to install 1,000 Bitcoin ATMs all across the country despite the current crackdown on crypto.

These ATMs will be installed at gas stations and other stores which will allow all customers to buy and sell crypto tokens via cash.

These services are essential as it may be possible one day that banks and credit cards will start to limit the amount of crypto that you can purchase.

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There have already been some instances of this in the UK where the banks have been denying crypto companies from being able to access financial services as well as restricting crypto purchases.

With ATMs scattered around, it at least gives crypto investors another way to purchase digital assets.

Kitco reports:

For those that prefer more anonymity, the ability to insert cash and receive Bitcoin or one of 25 other cryptocurrencies instantly and securely is an ideal alternative to signing up for an account on an exchange like Coinbase, which has seen increasing scrutiny from regulators.

Coinhub ATMs provide users with step-by-step instructions on how to complete their transactions quickly and easily, and they are able to process transactions at any time of day.

Bitcoin and cryptocurrency ATMs are rapidly becoming a hassle-free option for U.S. citizens to purchase crypto amid a landscape that is becoming increasingly hostile towards the industry.

Along with the recent collapses of Silvergate Bank, Silicon Valley Bank and Signature bank, the ongoing Operation Chokepoint 2.0 has left few reliable banking partners for crypto firms and their users.

Bitcoin ATMs are not a new thing as they have been around for many years, but they are still not widespread in many regions of the country.

They also exist in other regions around the world such as Latin America and Europe where they have been more popular.

As of right now, there are around 29,000 Bitcoin ATMs that are currently operating within the US and that number continues to grow.

The fact that it still continues to increase despite the crypto crackdown indicates that overall demand for digital assets remains strong.

This trend remains true no matter what the region is whether it is North America or in other global regions.

PRNewsWire reports:

Coinhub’s partnership with gas stations and store owners also has benefits for the store owners themselves.

By offering a Coinhub Bitcoin ATM in their stores, they can attract new customers who are interested in buying Bitcoin. In addition, they can earn a monthly rent payment, which can help boost their bottom line.

Overall, the Coinhub partnership with gas stations and store owners is a win-win for everyone involved.

Customers get easy access to Bitcoin using cash, while store owners can attract new customers and earn extra income.

Coinhub is leading the way in making cryptocurrency accessible to everyone and this partnership is just the latest example of their innovative approach.

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