Bitcoin Popularity Rising in Utah as Local Businesses Adopt Crypto & ATMs Pop all over the State

Abhinav Agarwal Bitcoin News PublishedOctober 3, 2018 | ModifiedOctober 3, 2018


Bitcoin Popularity Rising in Utah as Local Businesses Adopt Crypto & ATMs Pop all over the State

Bitcoin ATMs have come close to touching 4,000 as in just a month about 200 new ATMs gets installed. Meanwhile, Bitcoin ATMs and adoption is making a presence in Utah.

Bitcoin ATMs close to touching 4k

Bitcoin ATMs have been gaining a lot of traction as the total number reaches close to 4,000. Just about 4 months back, this number crossed the 3k mark and over 200 new ATMs have been added in just a month. The exact number has now reached 3,824 which is constantly on the rise.

According to coinatmradar, the growth has been on a progressive path as shown in the below chart:

Bitcoin ATM Growth, Source: coinatmradar

With over 72 percent share, North America is leading the Bitcoin ATM race. And the United States is at the forefront in North America where Chicago has the highest of about 188 Bitcoin ATMs and then New York with 129.

Also, read: No More Waiting for Bitcoin ETF as Institutional Start Buying Cryptocurrencies in OTC Markets

Utah turns to Bitcoin, adoption & ATMs making a presence

Though Utah has only about 12 of Bitcoin ATMs, it is also making progress as the local media channel mentions of the growth.

About 11 of these are operated by CoinCloud that according to its CEO, Chris McAlary:

“We launched our first (BTM) in Sandy at Game Haven in 2015, and it’s always been one of our best locations. The market there in Salt Lake City has always been very tech savvy, and I think we get a lot of millennials. People really like bitcoin and want instant access to it.”

As for how it works, he clarifies,

“You walk up, insert cash, and we send Bitcoin instantly to your phone or your mobile wallet. You can also send bitcoin from your mobile wallet and go pick up cash at the bitcoin ATM.”

Apparently, Bitcoin is slowly becoming popular with the local businesses as over 15 of business from different sectors have started accepting the cryptocurrency.

The local media channel quoted an Utah-based pro-Bitcoin organization as saying,

“Merchants love (cryptocurrency) because processing fees are near zero and there’s no chance of fraudulent payment or counterfeiting. It isn’t owned or controlled by any government, company or corporation, and it exists only online.”

Due to low processing fees and no setup cost, it is “perfect for small businesses”. Furthermore, the few businesses that accept Bitcoin are getting the business of all the customers that want to use Bitcoin, at least locally. It’s time that businesses actively move to Bitcoin and cryptos while they have the time or they will get left behind.

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Abhinav Agarwal 119 Articles
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