First time since July 2023 number of active Bitcoin ATMs worldwide has decreasedcointelegraph.com/news/global-bitcoin-atm-decline-us-shuts-300-machines
364 sats \ 5 comments \ @Cje95 21 May bitcoin
“Based on our own user surveys, a majority of our users use our products and services for non-speculative purposes, including money transfers, international remittances, and online purchases, among others,” Bitcoin Depot wrote.
However, the 10-month-long global crypto ATM growth streak broke after over 300 ATMs went offline in May 2024. As of May 21, the U.S. market lost 302 Bitcoin ATMs during the month, while 28 machines went offline in Canada. However, new Bitcoin ATMs in Australia, Switzerland and Europe have reduced the net decline in crypto ATMs to 280 at the time of publication.
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10 sats \ 1 reply \ @cryotosensei 21 May
Well with transaction costs amounting to 20%, who would want to use BTC ATMs in the first place? N they increasingly require KYC. All cons n no pros.
Here’s what I know about Germany: 3. Bitcoin ATMs are quite easily found in Germany. Kurant is the market leader for BTC ATMs and operate around 220 machines in Austria, Germany and Spain. It offers BTC, ETH and LTC, and the fees are 8% over spot. Yes, KYC is necessary.
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10 sats \ 0 replies \ @Cje95 OP 21 May
I think in the US so many users are used to KYC that they do not seem to care. Bitcoin Depot in their SEC filings noted a lot of usage was for remittances which the traditional way are crazy expensive as well... BTC would likely stand a better chance at holding its value if it is sent to say Latin America instead of traditional means where they would get the Peso
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0 sats \ 2 replies \ @Satosora 21 May
Going down? Maybe it is just easier to buy it from an exchange?
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11 sats \ 1 reply \ @Cje95 OP 21 May
Yeah it's an interesting article because it talks about how it almost crossed the 38k ATM line but the US and Canada, which have the most, had 330 combined go "offline". In Australia, the number 3 country in terms of BTC ATMs, Europe, and Switzerland though added a combined 50 so the number only decreased by 280 worldwide.
The article states
"Law enforcement agencies in the U.S. actively pursue and shut down Bitcoin ATMs frequently used for extortion and scams."
However, I haven't seen really any discussion or evidence about this taking place...
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0 sats \ 0 replies \ @Satosora 21 May
They probably were. But the police dont realize that there is a blockchain. Maybe the actual atm was used lol
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