Fast-growing Bitcoin depot ATM in the U.S. has started shutting down primarily to end the spread of novel coronavirus in the country. Bitcoin depot ATM temporary shutdown is, however, strategic as only machines in highly populated areas are shut down to encourage social distancing.
Alona Lubya, the firm’s director of product, said in an interview that as Bitcoin depot continue to monitor the situation, it looks more likely that they shut more ATM’s down.
Lubya added that the firm continues to look out for Bitcoin depot ATM that has a lot of users and hard for social distancing to be exercised as they calculate that around 10% of their machines are going to be temporarily shut down until month-end or whenever the situation warrants. Reportedly, Bitcoin depot ATM is over 600, which are nicknamed BTMs across 25 States in America.
Bitcoin depot ATM, crypto ATM’s number hike
The number of cryptocurrency ATMs in recent times is begging to surge in the world as the machines enable users to trade fiat currencies for cryptos.
Early March last year, 7,014 crypto ATMs were said to exist across the globe as currently, the numbers are reported to have surged to 7,384, according to CoinATMRadar.
Bitcoin Depot CEO Brandon Mintz, however, said that the firm’s goal is to ensure customers’ safety and contribute to the health of their clients by following laid down guidelines as regards the cleanliness of their machines amidst the coronavirus pandemic.
He said further that this necessitated the need to power down certain Bitcoin depot ATM as he looks forward to seeing other ATM operating firms do the same and ensure clients’ safety.
Primarily, cryptocurrencies and other digital assets don’t require social presence to change hands as users send value to people without meeting or seeing such people.
Bitcoin depot ATM likewise other BTC ATMs are primarily to enable people with fiat to convert them to cryptos that way bringing into the fold underbanked or unbanked individuals allowing them to transact online.
With social distancing the anthem in the world currently to arrest the spread of coronavirus, Bitcoin depot has a team responsible for shutting down machines in crowded areas as nonessential businesses in the U.S. are on lockdown till the end of this month.