The following post is a guest post by Joe Ciccolo, the Founder President of BitAML. He can be reached at firstname.lastname@example.org.
There’s a great deal of excitement around the bitcoin ATM space. And why not? Terminals are popping up all over the United States, and around the world. Since this time last year, the number of bitcoin ATMs has risen by over 55%. Of this growth, 20% has occurred in Q1 of 2016 alone. Every day, two new terminals come online somewhere in the world.
The appetite among both consumers and bitcoin ATM operators is undeniable. Consumers enjoy a simple, user-friendly, and familiar onramp. The sale of fiat paper currency for bitcoin can be completed within a matter of seconds. To the consumer, especially bitcoin regulars, these new age vending machines have become a popular alternative to bitcoin exchanges, which tend to suffer from longer processing times, stricter controls, and arguably colder customer service. For operators, the barriers to entry are much lower in comparison to most bitcoin business models, not just bitcoin exchanges. Rather than coding an app and developing cumbersome infrastructure, as an operator you simply purchase your technology