There has been a remarkable growth in the use of crypto ATMs globally. Data from CoinATMradar .com says that by June 1, 2019, there were a total of 4,858 crypto ATMs globally. It is estimated that these machines have now hit the 5000 milestone. In contrast, there are over 3 million functional traditional ATMs in the world today. It is estimated that there will be 4.3 million conventional fiat ATMs around the globe by 2020.
Crypto enthusiasts say that the disparity should not be a source of alarm. They, in fact, say this extensive traditional ATM network is good for Bitcoin. A Reddit user RickDawkins, for instance, says:
“I operate a couple dozen regular ATM kiosks. There is Bitcoin capable software coming to them soon, so someday those 3 million traditional ATMs will double function as Bitcoin ATMs. No other details are known yet. It’ll take a couple years to get all the updates out I’m sure. This industry is slow, and they always postpone deadlines.”
Double Functioning Bitcoin/ Fiat ATMs
Robocoin, a Bitcoin ATM manufacturer, designed a software pack in place that turns any regular ATM into a BTC dispensing machine. Through these dual machines, any kiosk or ATM, can accept, transfer, or dispense cash alongside the digital currency. The software, known as Coin SDK, was Robocoin’s initiative to encourage crypto mass adoption. Read More at EWN...