The History of Bitcoin ATM’s. (1/5)

The first Bitcoin ATM was opened in a small unsuspecting coffee shop in Vancouver, Canada on October 29, 2013. The brand was Robocoin. Eventually the Robocoin brand went defunct. The first government actual licensed Bitcoin ATM was developed by a company called Coinme and was installed at the spitfire grill in Seattle.

Over the years, Bitcoin ATM’s would go on to see massive growth and adoption. As of May 2021, there are over 48,000 Bitcoin ATM’s in the U.S alone.

According to the most popular brand right now worldwide is ‘National Bitcoin ATM’

The average rent for hosting a bitcoin ATM is around 300$ per month. Nowadays Bitcoin ATM’s can be found even in far-flung corners of the country. Take the case of one woman, Ms. Sonder for example. Coin Cloud offered her $200 a month to house the machine outside her establishment. “I didn’t understand why they wanted to put one here,” said Sonder. “It’s a seasonal business in a town with less than 500 people.”

Written by Writers Room


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