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Cryptocurrency Investors In A Pinch For Cash Need Look No Further Than The Nearest Bitcoin ATM

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Cryptocurrency Investors In A Pinch For Cash Need Look No Further Than The Nearest Bitcoin ATM

Many cryptocurrency investors see long-term value and opportunity in deregulated, inflation-free digital currencies. But outside of being long-term investments bitcoin, Ethereum and other digital currencies are actual currencies as well.

In other words, cryptocurrencies are often traded, spent, acquired and discussed digitally, but turning your digital bitcoin into cash in your hand may be much easier than you realize.

As of the beginning of 2017, there were more than 550 bitcoin ATMs installed throughout the United States. At the beginning of 2016, there were only 450 bitcoin ATMs in the world. Less than two years later, that number has more than tripled to 1509, according to Coin ATM Radar.

With the price of bitcoin up more than 350 percent year-to-date and cryptocurrencies getting more and more media attention, investors can expect that meteoric growth to continue in years ahead. Coin ATM Radar estimates that the number of operational bitcoin ATMs is increasing by an average of 1.72 machines per day.

Demand for bitcoin ATMs has gotten so large that it has even spawned startups, such as LibertyX. LibertyX operates 19,000 of the U.S. bitcoin ATMs.

Related Link: Does Bitcoin Actually Hold Any Value At All?

Other crytocurrency ATMs are springing up as well, with the first Toronto Ethereum ATM opening up earlier this month.

For now, a bitcoin ATM may not be right around the corner, but it may be closer than you think. For bitcon investors that could use some quick cash, Coindesk has a map of all the bitcoin ATMs in the world on its website.

But as with standard ATMs, withdrawing cash comes at a price. The average bitcoin ATM charges a steep 8.99 percent fee.

Posted-In: Bitcoin Coin ATM Radar Ethereum LibertyXEducation Forex Markets General Best of Benzinga

 

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