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Bitcoin ATM (BTC) Boom Amid Crypto Rout

Bitcoin Australian ATM provider sees $ 360,000 / week in revenue

The Daily Mail, a popular British tabloid, recently reported on an Australian Bitcoin entrepreneur named Sam Karagiozis. Speaking with the outlet, Karagiozis told his story, while he also disseminated some information about his promising automated teller activity automated teller (ATM).

Karagiozis, a school dropout who became a business guru, explained that while he lost more than 3 million dollars in paper in the crypto crash of 2018, his ATM concert started to give good results. More specifically, the entrepreneur, who also lost two million Australian dollars through declining property valuations, said Auscoin, the startup he managed, raised $ 2 million in 2018, enabling 31 ATMs to be incurred throughout Australia.

And while the $ 2 million figure ran out of Auscoin's ambitious $ 40 million goal, the company's ATM network started to bear fruit. More specifically, Karagiozis claimed that the 31 scrutineers published $ 500,000 in volumes each week. This amounts to $ 16,000 per car – week in week. Not bad.

This statistic accentuates the way in which the use of crypto does not diminish. Only a few days ago, Ethereum World News reported that the amount of Bitcoin darknet transactions has doubled since January 2018 at the end of the year, indicating that the value of cryptocurrencies still exists, contrary to the sentiment touted by cynical and irreducible skeptics .

This latest news comes just weeks after the number of global encrypted ATMs has exceeded 4,000 units, a monumental milestone, especially considering the shaky market conditions that hit digital resources. As reported by Ethereum World News earlier, for the Coin Radar ATM data, there are now 4,129 ATMs on planet Earth.

Jameson Lopp, the head of technology at Casa, also recently drew attention to the fact that the number of ATMs doubled in 2018 to 4,000. The growth of ~ 100% in the BATMs of 2018 "continues a three-year trend of 100% growth year on year", as Lopp argues.

What's so important? Bout Crypto ATM?

But you might be left wondering: what's so important in ATM cryptometers and similar infrastructures?

Well, since the first Bitcoin ATM was launched in Vancouver, Canada, at the end of 2013, this form of infrastructure has been praised as a viable means of global adoption. For many ordinary consumers, ATMs are a perfect segway from the world of traditional finance (fiat) to cryptocurrencies, as these devices make the purchase of Bitcoin intuitive, physical and accessible.

In fact, compared to the use of exchanges like Bitfinex, Coinstamp and the like, ATMs are a proverbial piece of cake.

And it seems that this narrative has begun to take hold. For our previous reports, Coinstar, a supplier of North American kiosks with tens of thousands of offers throughout the United States and Canada, has recently joined Coinme, a Bitcoin ATM cashpoint, to implement its services in Coinstar terminals. Now, over 20,000 kiosks can buy BTCs with their spare parts

Title Image Courtesy of Aaron Burden Via Unsplash
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