![Australian bitcoin [btc] atm startup says its raking in $360,000 per week](https://ohiobitcoin.com/storage/2019/01/XQ27PO.jpg "Australian bitcoin [btc] atm startup says its raking in $360,000 per week")
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A bitcoin [BTC] ATM company from Australia has reported a weekly turnover of $500,000 AUD (roughly $360,000 USD) despite the cryptocurrency bear market.
$360,000 Weekly Turnaround
Auscoin, an Australian bitcoin $BTC [BTC] ATM company, has a weekly turnaround of $360,000 in 2018. According to the reports, it’s currently operating 31 ATMs throughout Australia but it’s planning to expand.
Speaking on the matter, Sam Karagiozis, founder at Auscoin, said:
We currently have 31 Auscoin ATMs in Australia… and our turnover is $500,000 a week, which is just insane considering how much the price of bitcoin [BTC] has dropped. […] It just shows there really is a market for it and cryptocurrency is seen as a way of the future for many.
Auscoin bitcoin $BTC [BTC] ATM
The company had an underwhelming ICO in 2018 after it managed to raise only $2 million of the projected $30 million. However, it hopes to expand to a network of more than 1200 bitcoin $BTC [BTC] ATMs across Australia.
It’s Getting Easier to Buy bitcoin [BTC]
It’s becoming increasingly easier for people to buy bitcoin [BTC] at a range of physical locations. According to Karagiozis, accessibility is the main barrier to entry for regular people:
We believe the most significant barrier to entry for everyday people in the cryptocurrency market is accessibility.
Bitcoinist that the number of bitcoin [BTC] ATMs has doubled in 2018, growing to more than 4,000 in 76 different countries. to the tracking website Coinatmradar, Australia has 54 bitcoin [BTC] ATMs in operation.
At the beginning of the month, France selling bitcoin [BTC] at tobacco shops. The plan is to expand buying bitcoin $BTC [BTC] to 24,000 tobacco kiosks across the country in the near future.
Just a couple of days ago, US-based bitcoin [BTC] ATM company Coinme up with international coin counter Coinstar. The initiative has enabled users to buy bitcoin [BTC] at 20,000 Coinstar kiosk locations.
Meanwhile, is also expected to see its first bitcoin $BTC [BTC] vending machine go live within the next two weeks.
What do you think of the growing popularity of bitcoin [BTC] ATMs? Will this have a positive impact on its widespread adoption? Don’t hesitate to let us know in the comments below!
Images courtesy of Shutterstock
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Published at Sun, 20 Jan 2019 18:00:26 +0000
