Bitcoin ATM's expanding across the U.S.



you know we look at the time right now is like a very productive time of people in the industry that are are really committed to building you know the Bitcoin ecosystem and making the product more useful hey guys Jeff from axle and it was just the other day I went to my favorite candy and soda shop here in Las Vegas that would be rocket fizz and I made a video about this ATM machine that's near the counter not your normal ATM machine though a BTM a Bitcoin ATM and it was really cool we got a lot of interest in that video and I thought we should probably follow up on that and track down the company that actually manufactures these machines and see just how far they've expanded and joining us right now is Chris McAlary he is the CEO of coin cloud the company behind all these fabulous machines Chris you guys have a very cool project and I would love to hear about how you got started with this why did you decide to start manufacturing and distributing these Bitcoin ATMs yeah so coin cloud is the largest and oldest operator of Bitcoin ATMs or national network where you can walk up putting cash buy Bitcoin instantly or withdraw BIC or withdraw cash by sending Bitcoin into the Machine exchanging it and that process it's less than five minutes there's no unlike coin base or some of these online exchanges there's no you know linking it to your bank account which can take up to you know two or three business days while you wait for the micro deposits or you're not sending your you know your gas bill to prove residency and going through a week-long compliance process our re teams are very local and instant which is the value proposition there and Chris let's talk about expansion just how fast are these machines expanding across the entire country so right now we operate 225 Bitcoin ATMs nationwide here in the US we're adding and installing 25 a month right now and hope to be up at 50 or 75 by the NATA you know it must be really cool to have this feeling that you are at the forefront of this movement just like when the ATM launched decades ago you're really helping lead a new frontier and showing the average person that this stuff is for real and it's out there exactly ya know I got into Bitcoin in 2011 as a hobby and you know to see it go from in your garage too you know watching our first location on the strip in 2014 you know every month we continue to see more and more uses of the machine in terms of average transaction volume average transaction size we've seen you know the price fluctuate through speculative run ups and you know declines over over the years but continued actual like transaction volume in usage at our machine is continuing to rise despite whatever the prices is doing and has month-over-month for the last at least three years so that you know it's exciting place to be where you know your product is continually being used more and more and the man is growing so we hope to have these machines in in every American city in every street corner over the next few years and Chris you mentioned fluctuation as it relates to Bitcoin certainly it's been a rollercoaster ride and every analyst that I've talked to that has been following Bitcoin has said that moving forward there's no question bitcoin is going to go back up and the reason it's going to go back up is because of adoption by major companies and showing the real use in our society do you see that trend happening for sure yeah the you know the promise and of profit draws a lot of people in you know some of those people are you know legitimately interested in the space and growing the space and will stick around and some won't and some of you are looking for a get-rich-quick scheme and you know sort of downturns like we've seen a last year filter out those people and so you know we look at the time right now is like a very productive time of people in the industry that are are really committed to building you know the Bitcoin ecosystem and making the product more useful it's really exciting these are the most exciting times in Bitcoin right now and there are still a lot of people in the world who haven't quite grasped how cryptocurrency really works but I'll give you an example coin star is a machine that you find at your supermarket and that's where you exchange your real coins for cash and I know a lot of us have done that where you find coins under your couch cushion or in your car and then you get overwhelmed and so then you pour the coins in that machine you get cash back well many of those machines are now incorporating bitcoins so you can buy Bitcoin very easily at the machines and Chris do you think that we're going to see more examples of that which bring the average person into the knowledge of cryptocurrency for sure yeah you know the more you know bitcoins gone from being hard to use and it's very early days too easy and easy to use as more and more you know wallet technologies get better more and more places you can buy and sell it like it our ATMs there's more online exchanges available you can buy with credit cards you can buy with debit cards you can buy with bank wires making the products so much more useful than it was you know five or six years ago and nothing was there it's sort of going through the same life process as email did where it's like you know people like why do i why would I want to use email when I can send a letter you know I just need a piece of paper and a pen not a computer and the login and all these things well you know fast forward from like 1990 to you know 30 years later everybody's using email nobody nobody writes pending paper unless it's for a special occasion anymore so I think you're gonna see the same adoption process with Bitcoin words you know people are like why would I do this one but at the end of the day you know and usually come go whip out your mobile phone you'll you know put in an address or even a contact and be able to send money over the world globally instantly through the internet that's a special special thing and you know we're all pushing that ball close to that going and what message would you have for the store owners the ones who have not yet added a Bitcoin ATM into their shop why should they do it and what's the draw oh there's a huge draw all you know all of our our shop owners are very pleasantly surprised you know after the Machine comes in draws a new foot traffic you're getting a lot of press attention for having such a unique item in your store and the Bitcoin user is because it's so nascent it's often one of the very few places in a city where people can buy and sell Bitcoin for cash so you get people driving like two or three hours because they live in you know the middle of nowhere in Utah and it's actually the closest place they can do that and so you're getting a lot of you know that's an extreme example but people will often drive 15 20 minutes across Las Vegas or you know Dallas to you know trade trade Bitcoin in person at your store and that's like a huge bonus added foot traffic that you would never otherwise gotten in addition to that it's very small footprint 16 by 16 inches and we pay we pay you rent on top of that so it's like a win-win all around okay Chris thank you for taking the time to speak with us today and if you guys want more information in particular if you're a store owner who's interested in hosting one of these machines just go to coin cloud ATM comm and click on the host page and then fill out your information and they'll walk you through how to start that process and by the way it's not just Bitcoin in fact this year coin cloud announced that it has launched an altcoin platform across their national network of cryptocurrency ATMs that now support over 70 altcoins including aetherium litecoin tron USD coin 0x and many many others look there's no question the cryptocurrency universe is expanding rapidly and it's real companies with real technology and real platforms and real people like coin cloud like those altcoins I mentioned like all of us here at axel that are going to thrive and move this process forward so keep it right here for all the developments and I'll include that link to coin cloud in the description box below be sure to follow us on social media here on Axel subscribe to this YouTube channel and I will see you next time

11 thoughts on “Bitcoin ATM's expanding across the U.S.”

  1. if you buy bitcoin in coin cloud machine it will be expensive! example the bitcoin price today is 3890 and if you buy bitcoin in coins cloud machine the price of bitcoin is 4200 instead of 3890 thats to much!!!???

  2. Hello guys!! i want to introduce you to my hacker he has help a lot of people to generate bitcoin, he's very good at increasing bitcoin with out charge fee. you can contact him on whatsapp +18456059024 or hackeryunochang405 @gmail

  3. Bitcoin atms are 20x more profitable than regular ones. they suck. who the duxk would pay such a premium as if it is so hard to get? Dumb shit.

  4. "Bitcoin is not been official in India "…..in Apr' 18, RBI had issued a circular asking banks not to participate in cryptocurrency transactions.

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