Cryptocurrency

Bitcoin Depot partners with Circle K to expand crypto ATM services

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Bitcoin Depot, the biggest Bitcoin ATM operator in the world, has recently signed a deal with Circle K to expand its ATM operations in the United States and Canada.

The ATM giant said that through the successful deal, Circle K is currently hosting 700 of its Bitcoin ATM machines in more than 30 states. According to Bitcoin Depot, this massive expansion would enable it to provide easy bitcoin access for more people in the U.S. 

This ease of access would also encourage more people to enter the crypto space, which would expand Bitcoin Depot’s customer base even further. 

Bridge to ‘Tera’ Bitcoin

Alona Lubovnaya, Bitcoin Depot’s director of the product said: “ATMs being located in Circle K’s provide an easy onramp for the underbanked and less affluent, not just someone with a wealth manager.” 

The company said that it is currently operating 3,500 crypto ATMs in the U.S. and Canada which provides, not only bitcoin access but also other cryptocurrencies as well. 

Circle K is certainly an ideal partner for Bitcoin Depot. With more than 7,000 stores in the U.S and over 2,000 stores in Canada, crypto ATM machines would have ready facilities to operate in and high foot traffic to tap. 

Crypto ATM’s rising demand

Cryptocurrencies’ popularity all over the world has also increased the demand for crypto ATMs. According to data released by CoinATMRadar, there are around 24,000 crypto ATMs operating in 75 countries, and 20,000 of them are in the U.S.

Bitcoin Depot was forced to suspend its operations last year because of the pandemic, but the company has recently resumed its operations and has continued its expansion plans. 

 

Image courtesy of Cointelegraph News/YouTube

Jet Encila

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Jet Encila

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