Before we even look at the convenience of having a 24/7 Bitcoin ATM at your local favorite retail store or popular nightclub , it is critical that we appreciate how it is shaping the way people and business are making and accepting payments.
Yes, there is a demand for the Bitcoin ATM today and in the days to come. Maybe that is not high right now in your city or town, but there is every indication that everything is going to change.
More people and businesses are adopting the Bitcoin payment system.
Each day, in big cities like San Francisco, Hong Kong, London and Tokyo, thousands of persons, including enterprises, are adopting the Bitcoins payment system.
It is, therefore, a little bit unrealistic to hold on to the belief that your small town, village or world is going to be spared by the growing tentacles of the digital currency.
The trend seems to take us into not very far future when your tech indifferent friend, sister or father will literally rush to have a piece of the Bitcoin.
You just have to look at Bitcoin’s statistics from 2009 to now to have an idea of how this future is going look like. Graphs of the total Bitcoins in circulation, market capitalization, total transaction fees and number of transactions are all in steep upward trajectories.
This is despite the security scares such as the Mtgox one and legal compliance hurdles that the digital currency still faces in many jurisdictions around the globe.
The Bitcoin ATM is an important component in the digital payment system.
And in all this Bitcoin revolution, the ATM is at the center of it. This is because more Bitcoin dispensing machines means more people getting sucked into the system.
We have to mention at this juncture that the relationship between the growth of Bitcoin usage and that Bitcoin ATMs is symbiotic.
The cryptocurrency is using the machines to reach the average person in the streets and the ATMs depend on the usage adoption to process more transactions.
Now let’s go back to the convenience that the Bitcoin ATMs bring, especially when they are operated in a 24/7 arrangement.
Imagine you are in your local popular nightclub having fun with your buddies. Suddenly, you run out of cash for the drinks.
Having a 24/7 Bitcoin ATM ensures you always have access to your money.
What feeling do you get at that moment to see a Bitcoin ATM machine standing next to the bar counter?
Of course a relief, especially if you have some Bitcoin stuffed in your mobile wallet. Then you know that all you have to do is walk over, get out your phone, pay for more drinks and continue having fun.
Assuming you and your friends are in a different club where the barman does not accept fiat money, which is becoming standard now in some places. The ATM becomes convenient for instant exchange of fiat cash for some Bitcoins to pay the bills with.
The same scenario can be replicated in several other enterprises that operate in a 24/7 arrangement such as convenient stores, gas stations and pharmacies.
Indeed, a 24/7 Bitcoin ATM takes away the worry of being cut off from your funds, whether fiat or Bitcoin, when you really need them.