Buying cryptocurrency will be as easy as refuelling and snacking after a new agreement to put in bitcoin ATMs in convenience stores and gas stations across the country.
New York gas stations will soon be ready to fill gas tanks and buy cryptocurrencies after China Circle K announced an agreement to put in bitcoin ATMs.
Brendan Mintz, CEO of Atlanta-based Bitcoin Depot, told The Post, ‘Our goal is to supply maximum access to consumers by installing as many ATMs as possible altogether 50 U.S. states.’
El Salvador also setting up 1,500 ATMs to buy Bitcoin and convert it into Cash.
Consumers can quickly and buy cryptocurrencies using traditional cash at bitcoin ATMs, creating “digital wallets” using their cell phones so that they can keep the funds they patronize home on automated tellers.
Machines also can send credit abroad, an option that would be very attractive to New York’s “unbanked”.
According to the New York Department of Consumer and Workers Protection, “unbanked” accounts for 10% of latest York households and usually includes poor, immigrant residents who don’t believe in traditional financial institutions.
Cryptocurrency is considered a tender in El Salvador, and support for its legalization is being sought in Latin America.
“Our kiosks enable these people to store their capital digitally,” said Derek Mooney, a competitor to CoinSource, a New York-based Bitcoin ATM provider. Long Island may be a corrupt currency jackpot.
. The Bitcoin Depot is awaiting regulatory approval to work in New York.
There is a minimum of 20,000 bitcoin ATMs nationwide, with many corners located within the New York area at Bode, Dallas, Laundromats and other locations.