The rise of cryptocurrency
Over the past five years the cryptocurrency market, led by bitcoin, has made significant strides. Bitcoin’s success in 2017 — its breakout year — also made it possible for other altcoins to follow in its footsteps.
- Growth in the early years of the crypto space was driven by retail investors.
- However in 2020, cryptocurrency saw new interest from institutional investors.
- Recently, companies like MicroStrategy, Ark Invest, Square, and Tesla began to add bitcoin to their portfolios.
- This ignited, what some analysts have called, the bull run of 2021.
With the adoption of digital assets from the institutional sector, bitcoin’s price reached an all time high of $64,804.72 on April 14, 2021. The market corrected this spike in May of the same year and held steady until July when the bitcoin market began to recover. These trends indicate a mature marketplace that has sustainable liquidity and utility. This paves the way for new technologies like Bitcoin ATMs to flourish in the future.
Why Bitcoin ATMs are key to bitcoin adoption
As of now, institutions are very much in the limelight of this market, but retail investors are and will be an important part in continuing the adoption of cryptocurrency and bitcoin. If more money from retail were to flow into the bitcoin marketplace, its value could potentially surpass that of gold.
While a lot of money is coming from institutions like investment firms and hedge funds now, the retail sector will also help bring more liquidity into the market.
One way to get more retailers involved in the crypto space is through Bitcoin ATMs or BTMs. For retail investors, this is a fast and simple way to get exposure to digital assets.
Bitcoin ATMs have revolutionized the way many people buy and sell Bitcoin. Without these machines, access to the world of cryptocurrency would be much more difficult and less convenient for those who are new to digital currencies, especially those who are unfamiliar with online apps such as crypto apps and the so-called decentralized crypto exchanges.
Business owners, investors, and everyday Bitcoin users can all reap the benefits of having a physical location in their area where they can purchase cryptocurrency with ease. It also reduces some of the technical complexity associated with buying and selling coins online which can make it intimidating for newcomers.
Users can have bitcoins under their full custody whenever they use Bitcoin ATMs, making them a safe and reliable way to buy or sell cryptocurrency. As more people discover the advantages of using a Bitcoin ATM, expectations for this technology may grow in popularity and further drive mass adoption of Bitcoin.
Opening the door to retail investors
Investing in bitcoin and cryptocurrency offers an accessible alternative to traditional markets for retail investors. No longer must they be bound by the restrictions limiting access to certain investments – with cryptocurrency, anyone can join the game. That means no need to hire a broker or save up to $1,000 just to begin your new financial venture.
- BTMs provide the quickest way to exchange fiat (traditional money like the US dollar) for crypto and vice versa.
- With BTMs, most transactions occur between the user and the machine directly.
- As such, BTMs do not require an additional third party for transactions.
- BTMs make cryptocurrency simpler for buying and selling bitcoin for those who do not have a bank account or credit card; cash is all they need to buy Bitcoin.
As bitcoin becomes more popular, BTMs will provide an important point of entry for cryptocurrency buyers. This will allow many retail investors direct access to bitcoin and other cryptocurrencies for the first time ever!
Glossary Of Terms
- Altcoins – A term used to describe cryptocurrency other than Bitcoin (e.g. Ethereum)
- Bitcoin – A cryptocurrency designed for peer-to-peer payments in a decentralized network.
- Bitcoin ATM (BTM) – An ATM that provides access to cryptocurrency wallets for the buying and selling of Bitcoin.
- Cryptocurrency – A digital asset used as a store of value or form of payment that is secured with cryptography.