With the global adoption of Bitcoin heavily weighed on its accessibility, Bitcoin ATMs would go a long way in sorting out this. With these machines seeming to be the operational solution to this issue, reports indicate several cities of the world have become homes to these machines.
Minneapolis and Saint-Paul, also known as the Twin Cities, have been reported to have joined the league of cities housing these ATMs.
Bitcoin ATMs Operational in the US
While 2018 remains a rough year for Bitcoin in the US especially with the robust regulatory framework adopted and falling prices, it is quite difficult to gauge the level of interest in it. Statistics show that the world is home to nearly 4000 Bitcoin ATMs with a rather impressive number in the US.
However, despite the impressive number, it remains insufficient to accommodate the needs of the growing crypto sphere and accelerate global adoption. Despite the United States’ toughened stance on cryptocurrencies, a vast number of Bitcoin ATMs are housed by several states in the country.
The Twin Cities, also known as Minneapolis and Saint-Paul, have been reported to have joined this list with several machines operational. Convenience stores, vaping shops, and other significant hotspots in these cities are sporting new instruments.
The Bitcoin ATMs are developed in the form of a mini fiat-to-cryptocurrency exchange. As such, the machines will give customers unhindered access to Bitcoin in exchange for fiat currencies and will be operated by independent businesspersons.
The Twin Cities: A Relaxed Environment for Cryptocurrency
One of the significant issues faced by the crypto sphere globally remains a regulatory framework against trading cryptocurrencies. With the Twin Cities favorable regulation to entrepreneurs dealing with cryptocurrencies, the environment for the adoption of cryptocurrencies it is far more relaxed.
According to Minnesota’s Stop N Shop manager, Assad Awaijane, the installation of these ATMs in the town was a perfect opportunity for store owners to take a little gamble without losing out on much.
“I was eager to lease out space to Coin Cloud after they approached me several months ago. I was excited to bring it in because it had a lot of news hype about bitcoin in the media. Cryptocurrencies are cash for the internet and are independent of the government. It is a very powerful tool for those who are underbanked or unbanked.”