With its relationships with retailers, Coinhub is contributing to Bitcoin’s increased awareness and acceptability in the mainstream economy.
Coinhub has formed partnerships with more than 1000 store retailers and gas station owners in order to deploy their automated teller machines in convenient locations around the United States. This expansion comes as Coinhub works toward its goal of making Bitcoin more accessible to the general public and providing users with more simple choices for purchasing and selling the digital currency.
The collaborations enable them to position their Bitcoin ATMs in locations that receive a lot of traffic and have a significant amount of visibility. The company assures that a greater number of individuals will have access to their services and that they can quickly purchase or sell Bitcoin whenever it is most convenient for them.
Store owners who partner with Coinhub to have a Bitcoin ATM on their premises will also receive rent payments each month making it an additional incentive for retailers to collaborate with the operator and provide their customers with the option to use a Bitcoin ATM.
What is a Bitcoin ATM?
A Bitcoin ATM is similar to a traditional ATM, but instead of dispensing cash, it allows users to buy or sell Bitcoin using cash or credit/debit cards. Users can simply insert cash into the machine, scan their Bitcoin wallet QR code, and receive the equivalent amount of Bitcoin in their wallet. Alternatively, users can also sell Bitcoin by scanning their wallet QR code, inserting cash, and receiving the equivalent amount in cash.
Currently, there are over 30,000 Bitcoin ATMs all over the world, with the majority located in the United States. These machines provide a convenient way for people to buy and sell Bitcoin without the need for a traditional exchange or online platform. They also serve as a bridge between the digital world of cryptocurrencies and the physical world of cash.
Final Thoughts
It is reasonable to anticipate that there will be a rise in the use of Bitcoin and other cryptocurrencies in the future as a result of Coinhub’s ongoing expansion efforts and placement of Bitcoin ATMs in key places. Thus, keep an eye out for Bitcoin ATMs at your local gas station or retail store, and take advantage of the convenience and accessibility they provide.