As the cryptocurrency community grows in leaps and bounds, Bitstop which is one of the largest Bitcoin ATM operators in the world has installed five Bitcoin ATMs for starters across several locations of America’s largest retail mall operator Simon Property Group. This comes at a time when the cryptocurrency space is looking for ways to bring adoption to everyday people in a way that they can appreciate how the technology works.
Sources indicate that the locations of the ATMs have already covered the following areas: locations in Carlsbad, California, Mall of Georgia in Buford, Georgia, Miami International Mall in Miami, Sawgrass Mills in Sunrise, and The Avenues in Jacksonville, Florida. This is part of a continuous rollout in an attempt to introduce many first-time users to cryptocurrencies. While many people view the approach as somewhat controversial, others see it as a novel way to enable first time users of the cryptocurrency to gain experience and knowledge about how Bitcoin works.
These Bitcoin ATMs are designed with simplicity and ease-of-use when it comes to having a great customer-centric end-user-experience. They have already been designed for people who have zero knowledge of anything in the crypto space. Bitstop CEO Andrew Barnard stated:
“Once you put these ATMs down and you give people easy access, the people go and figure out how to use it.”
This, of course, allows people who are curious about how cryptocurrency tokens work to try the ATMs out so that they can also get involved with the crypto space as well. Sources further indicate that according to Barnard, the average purchase on the machines is about $160 and the days of heavy traffic occurs between the first and the fifteenth of each month which is around the times of payday.
Installing the ATMs at these strategic locations also enables shoppers to perform all sorts of transactions with the machines as well. The installation locations (malls) also allows for the crypto space to be included in the holiday season shopping trends.
“Having it at a mall makes people go, ‘wow, I guess bitcoin is going to be around for a long time,” said Barnard.
This also changes the perception of people that Bitcoin and other cryptocurrencies are just a fad. It is an indication that the crypto space with a few innovations can pull their weight and that people can start trusting and using cryptocurrency tokens for all kinds of things as well.
Bitstop is one of the leading Bitcoin ATM companies in the world (it was founded in 2013) although the market place has been taken over by larger competitors such as LibertyX which has about 1,000 ATMs as opposed to Bitstop’s 130. As a rapidly developing trend on a global scale, Bitcoin ATMs are popping up all over the place ranging from convenience stores to gas stations. As of today, however, there are about 6017 Bitcoin ATMs globally which s 30% higher than the previous figure at the start of the year.
Christopher Haruna Hamman is a Freelance content developer, Crypto-Enthusiast and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.