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”
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.
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