LibertyX, one of the most reputable networks of Bitcoin ATMs, cashiers, and kiosks has continued to scale across New York. After becoming the first ATM company to receive a Bitlicense, the company continues to reach new horizons, providing software that gives traditional ATM’s the ability to offer Bitcoin.
LibertyX Growing In New York
In recent news, LibertyX announced that it installed its 700th “bitcoin-enabled traditional ATM in New York State.” It’s important to note that LibertyX was the first ATM company to ink a Bitlicense, which gave it the ability to scale in New York State. Through the LibertyX infrastructure, consumers can use a traditional ATM, but have the ability to purchase Bitcoin with their debit cards. New York State is just a small piece of the puzzle for LibertyX. Across the United States, the company now operates in 45 different states with 25,000+ locations. Bitcoin enabled ATM’s tend to be most popular in independent retail stores, where people continuously shop.
According to LibertyX Co-Founder & CEO, Chris Yim:
"Our bitcoin-enabled ATMs bring a welcome uplift in foot-traffic to local mom-and-pop restaurants and convenience stores while providing consumers the convenience of purchasing bitcoin in their communities. Store owners are excited about offering a novel product that differentiates themselves from other locations on their block."
According to the companies website, LibertyX is expanding its nationwide network, and is experiencing “unprecedented demand.” The newest additions give consumers the ability to purchase Bitcoin at some of the largest chain companies like 7-Eleven and CVS. Until 7/31/20, LibertyX is waving all conversion fees at chain retailers. This recent development allows people to purchase Bitcoin if they speak with a store employee, and have an account on the free LibertyX app. This feature is offered in select chain retailer and independent retailer locations.
Ways LibertyX Helps You Purchase Bitcoin
As discussed above, LibertyX lets customers buy Bitcoin from select retailer locations which doesn't require a physical ATM. If this approach is taken, customers use cash and can buy up to $500 per day from chain retailers like 7-Eleven, CVS, and Rite Aid. Other approaches include ATM's and Cash Kiosks.
Bitcoin ATM Demand
Since 2013, Bitcoin ATM installations have seen exponential growth on a global scale. According to Coin ATM Radar, there were only a few BTC ATM installations in 2013. In the last 7-8 years, Bitcoin installations have scaled to 8,400+ units. With this being said, there has been +280,766% growth in installations since 2013. This is not even taking into consideration the software behind LibertyX. As mentioned above, LibertyX has the ability to apply software upgrades that allows it to leverage existing units. There is no doubt that companies like LibertyX can fuel the adoption of digital assets. Opposed to navigating a crypto exchange, new entrants want a quick and efficient way to purchase Bitcoin. Bitcoin ATMs can be the most efficient way to introduce digital assets to the masses, by providing that “in person experience” that is completely nonexistent when trying to purchase crypto over the internet.
Image Source: LibertyX