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As ATM Adoption Grows, Bitcoin Depot’s Crypto ATMs Records Over 5,000 Installations

Bitcoin ATM continues recording massive adoptions especially in North America,. This shows the clear picture of the wide adoption of the technological innovation.

For Example, Bitcoin Depot’s cryptocurrency ATM network continues expanding. Notably, recent report shows that North American has set up over 5,000 installations.

This is the first time ever this is happening, especially amid a surge in retail adoption.
Consequentially, Bitcoin Depot ranks again the largest ATM network in North America.

The company makes the announcement on Thursday. Also, there’s an increasing number of kiosks, tripling within the last six months. This gives more users access to cryptocurrency transactions without requiring a bank or other third-party financial services provider.

Recently, Bitcoin Depot’s partnership with Circle K convenience stores is the major inspiration for growth. Especially, for their crypto kiosks. Notably, the two companies announced the partnership in July.

Which will have store chain acting like a home to thousands of Bitcoin ATM machines.

Crypto Kiosks Growth And ATM Adoptions

Also, the growth of crypto kiosks is due to the manner with which retail adoption of Bitcoin (BTC) and other digital assets grows.
Furthermore, El Salvador continues seeing wide adoption of Crypto ATM installations.

This comes right after making Bitcoin a legal tender in country. Thereby, providing users an easier way to transact in BTC or convert to fiat.
Currently, Salvadorans uses their government-backed Chivo cryptocurrency wallet for these transactions. President Nayib Bukele reveals that over a third of the country’s residents are “actively” using Chivo.

However, Kraken Security Labs, the security outfit of the popular cryptocurrency exchange warns about the risk of these ATM installations. Noting that “large number” of Bitcoin ATMs are targets for hacking.

For instance, this is due to administrators rarely changes the default admin QR code. Arguably, if hackers can get their hands on the admin code, they can easliy bypass any ATM Zand compromise it.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.