Despite the global growth in crypto recognition, virtual currencies still seem to many people like something beyond their grasp and access. In a way, it was true, since cryptos were often considered as sophisticated digital assets that were hard to access and obtain. That has always been a sticking point impeding their mass adoption. However, everything has changed - at least in the United States.
This week, Genmega, an independent ATM-supplier, and LibertyX, one of US largest retail bitcoin exchanges, announced a partnership to launch "the nation's first debit bitcoin ATM," as they called it in a recent press release.
From now on, every consumer will be able to use a debit card to buy bitcoins right at any of the more than 100,000 Genmega ATM cash machines in the US. To add this new functionality, the ATMs only need an uncomplicated software update, and then they will be able to sell bitcoins to all customers who have debit cards.
The cryptocurrency ATM market is forecast to grow nearly tenfold by 2023, according to a recent report. However, Coinatmradar data shows that before this revolutionary partnership was launched, the total number of BTC ATMs all over the USA amounted to just about 2,300.
The partner companies claim that the entire process will be simple and very much like a regular ATM cash withdrawal, which is definitely good news for consumers, since nowadays we all get used to cash machines, and even elderly people know how to use them. So, this innovative collaboration has every chance to promote cryptocurrencies by helping them to gain popularity in our everyday lives.
Commenting on this improved user experience, Chris Yim, LibertyX Co-Founder and CEO, said:
"We have been working tirelessly to make it easier to buy cryptocurrencies for the last five years and now are bringing simplicity, convenience and trust to the cryptocurrency purchasing experience through the timeless ATM."
Apart from consumers, ATM operators and businesses will also enjoy the benefits.
As Wes Dunn, senior vice president of sales at Genmega, put it in the release:
“ATM operators are always looking for ways to grow volume and transactions. We are excited to work with LibertyX on this new initiative that will drive additional foot traffic to merchant locations and provide added revenue to our operators."