by Greg Wilson, International Man:
I was in our third-floor office kitchen talking to a colleague when my phone dinged. It was my bitcoin wallet, Airbitz. And I had just received some bitcoin.
My first thought: “That was quick.”
An hour earlier, I tried out a new way to buy bitcoin. I used a bitcoin ATM.
Of course, I had heard of bitcoin ATMs… but there was never one close enough for me to use.
Until last week…
That’s when a nearby shop, Southside Vapor, installed a bitcoin ATM from Bitcoin Depot.
Now, buying bitcoin is only a two-minute walk away from my office.
The entire process took less than 10 minutes.
To buy the bitcoin, I entered my phone number and then a confirmation code to verify my identity.
I also entered my email address to receive the receipt, and my wallet address to receive the bitcoin.
Overall it was painless. And I had the bitcoin within an hour. (The only caveat is that the fees are high.)
The experience impressed me. And I thought this could be a good money-making opportunity for business owners. So, I talked to the shop’s owner, Tyler.
When I asked what he liked most about the bitcoin ATM, Tyler responded, “It brings in traffic and it’s a great talking point.”
Today, I’ll fill you in on our conversation.
First, let’s look at the rapidly growing cryptocurrency ATM market.
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