Bitcoin distributors are still discreet but their presence continues to grow. The most comprehensive sources are close to 4000. Will soon be as easy to remove Bitcoins as euros?
Bitcoin distributors multiply
In 2013, the first distributor of Bitcoins was born. Since then, these machines have multiplied and are present on a worldwide scale. On the occasion of the ten years of Bitcoin a few weeks ago, the platform eToro realized besides a nice blow of pub by installing a free distributor in the streets of London. In short, remove crypto machine is more than ever trend.
There are different types of digital currency distributors. Some only agree to exchange Bitcoins for fiat currencies. Other so-called reversible allow both the purchase of Bitcoins and the sale of Bitcoins.
In some cases, other cryptocurrencies are also accepted. Among the most popular are Dash (DASH), Litecoin (LTC), Ether (ETH), Bitcoin Cash (BCH) or ZCash (ZEC).
What does this mean for Bitcoin?
Over a period of one year, the number of Bitcoin distributors doubled. As the price of Bitcoin dropped below the $ 6,000 mark on November 14th, this growth is encouraging. Indeed, ATMs are often used for small amounts and their increase therefore demonstrates that the general public has a certain interest in cryptocurrencies and that easier access could help mass adoption. Nevertheless, this sometimes irrational price volatility of Bitcoin must stop. Contrary forces are at work on the market and we know that many speculators would benefit from a fall in prices. It remains to be seen whether the cryptocurrency market will be strong enough not to become the puppet of traditional finance.
And in France ?
In France, you will have to go to the South to hope to meet a distributor of Bitcoins and we can say that the authorities are not really favorable. Always argument advanced, this kind of machine would promote money laundering and other illegal activities. At the end of 2018, the reference site in this area Coin ATM Radar lists only two distributors on the French territory. For comparison, our Belgian neighbors would have access to 6 devices while there are more than 200 machines that are listed in our friends across the Channel and we are close to the 70 in Spain.