Why Bitcoin ATMs Are Taking Over Malls And Gas Stations All Across The U.S. 🪙🏧

Bitcoin ATMs, or BTMs, exploded in popularity between 2020 and mid-2022, at the height of the crypto craze. At their peak, BTMs totaled 34,000 across the U.S., according to Coin ATM Radar. More and more people are using Bitcoin ATMs to send money at lightning speed. A study from Bitcoin Depot, the company with the largest share of BTMs across the U.S., found that two-thirds of their customers use the machines for remittances and online purchases. But these machines have also gained a reputation as a vehicle for crime. Scammers can send their victims to these kiosks to take advantage of the faster transaction speeds.

Watch the video to learn more about what’s driving the BTM boom, why these machines attract crime, and how prosecutors fight back.

* Of course CNBC wants to push the "These are for criminals and scammers" narrative. These BTM's allow you to buy Bitcoin with no KYC. So if you want private Bitcoin, and don't mind paying a larger fee than what an KYC Exchange would charge, these machines are a Godsend!

Chapters:
00:00 — Introduction
00:46 — Explosive growth
03:20 — Criminal exploits
08:58 — Buying the competition

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