Fiat ATMs could soon function as Bitcoin and crypto ATMs
- There are about 5,000 crypto ATMs around the world in comparison to over 3 million fiat ATMs.
- COIN SDK is a software that is designed to modify a regular ATM into crypto dispensing ATM.
The rapid growth of Bitcoin ATMs continues around the works. According to CoinATMradar.com crypto ATMs totaled 4,858 by June 1, 2019. At the moment, the machines are expected to have crossed into the 5,000 mark.
This a very small number compared to fiat ATA machines which are currently over 3 million around the world. Besides, the ATMs are expected to increase in number to 4.3 million by 2020. The concerned crypto experts say that the large margin should not a cause for an alarm. On the contrary, they believe that the massive fiat ATMs are a good thing for Bitcoin. One Reddit user RickDawkins and an ATM operator says:
“I operate a couple dozen regular ATM kiosks. There is Bitcoin capable software coming to them soon, so someday those 3 million traditional ATMs will double function as Bitcoin ATMs. No other details are known yet. It’ll take a couple years to get all the updates out I’m sure. This industry is slow, and they always postpone deadlines.”
One of the Bitcoin ATM manufacturers, Robocoin has already come up with a software referred to as Coin SDK that can modify regular ATMs to start dispensing Bitcoin. With such an upgrade, any kiosk or ATM could be eligible to transfer, dispense cash as well as cryptocurrency.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
