Categories: Education

More about the interesting evolution of Bitcoin ATMs in Chicago and other regions

As bitcoin continues to grow, the number of bitcoin ATMs is also seeing a constant increase. It now seems like a company known by the name of RockItCoin, is hard at work to ensure that they lead the Bitcoin ATM market over in Chicago.

According to recent reports, the firm has just announced that they installed another 2-way bitcoin ATM over in the city. Roughly two months ago, RockItCoin also set up four similar ATMs, thus taking the total number to 24.

Unfortunately, while the RockItCoin ATMs are quite common in the Chicago area, they are known for their high fees, of roughly 12%. While the company did state that they will be considering lowering the fees in the near future, many residents still prefer online exchanges, rather than the ATMs.

In a recent press statement, the CEO of the company mentioned that: “As with any early adoption technology, costs tends to start on the high side, but demand will drive the cost and the liquidity down over time”

Related Post

Currently, there are over 600 of these machines installed throughout the world, with the number growing by an average of three on a daily basis, with almost half being found in the United States. There is still a strong debate in the bitcoin community concerning the advantages and disadvantages of bitcoin ATMs. While they offer quicker ways of getting bitcoin if you’re on the run, there are also quite a number of issues, such as extensive identity verifications, and limits imposed on transactions. However, many other online exchanges deal with the same issues.

Based on everything that has been outlined so far, what do you think about the evolution of Bitcoin ATMs? How about the growing trend of Ethereum ATMs? Let us know your thoughts in the comment section below.

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Daniel Dob

Daniel is a bitcoin investor and journalist for numerous news outlets in the financial sector. When he's not writing, trading, or interviewing people, you can find him swimming, reading or taking one of his hobbies to the next level.

Share
Published by
Daniel Dob

Recent Posts

WIF Set to Overtake BONK? Lunex Soars with 100x Potential in Altcoin Season

As altcoin season heats up, all eyes are on the rising stars—especially Lunex, which is…

7 hours ago

Binance Coin Price Dips: BNB Holders Rush To Lunex Presale To Hedge Their Long Positions

While the broader market witnessed a notable upward movement, Binance Coin (BNB) experienced a decline…

7 hours ago

Crypto Stalwarts Forecasted 800% Growth in Innovative Projects: VeChain, Rollblock and Polkadot!

This blazing crypto bull run has investors looking for the next top altcoins set to…

7 hours ago

Dogecoin Price Set To Recreate 36,000% Rally From 2021 After Pennant Formation

The Dogecoin price is back in the limelight, captivating the crypto world with its recent…

7 hours ago

Is XRP About to Explode? How Trump’s Victory Is Affecting XRP Price Amidst JetBolt Growth

Ripple’s XRP showed a 68% price increase in the last 7 days following Trump's victory,…

7 hours ago

Ethereum Down While Bitcoin, Solana, and JetBolt Skyrocket In End November 2024

Ethereum stumbles as Bitcoin surges past $97K, Solana eyes new highs, and JetBolt’s presale shakes…

10 hours ago