Bitcoin ATM operator Bitcoin Depot today launched on the Nasdaq stock exchange, making it the first U.S. company of its kind to go public.
The company—one of the largest Bitcoin ATM operators in the country—last week announced its merger with blank check company GSR II Meteora.
Bitcoin Depot, which is listed under the ticker BTM, was trading for $3.61 per share at the time of writing, according to Nasdaq data. At one point earlier this morning, the price was as high as $6.62—a noticeable shift.
“Bitcoin Depot is well positioned with the largest market share in North America, and the additional capital from this transaction will help support our numerous growth opportunities while advancing our mission to safely [and] securely bring Bitcoin to the masses,” Bitcoin Depot founder and CEO Brandon Mintz said in the official announcement.
New York Man Charged With Running Unlicensed Bitcoin ATMs That Sold $5.6M in BTC
The Manhattan District Attorney’s office has charged a man with running dozens of unlicensed Bitcoin ATMs across New York City, New Jersey and Miami. Prosecutors say 35-year-old New York resident Robert Taylor operated a total of 46 Bitcoin ATMs across three cities and sold $5.6 million Bitcoin between 2017 and 2018. He took transaction fees of between 10–20%. Taylor is accused of promising ATM users that his machines didn’t use cameras or require identity, in posts on social media. These promi...
Based in Atlanta, Georgia, Bitcoin Depot said it is the largest provider of Bitcoin ATMs in North America, with 6,440 kiosk locations.
A Bitcoin or crypto ATM is like a regular ATM, but allows users to buy and sell digital assets. Would-be traders can buy and sell coins and tokens quickly via such ATMs without having to deal with setting up an account with an exchange.
Bitcoin ATMs can also come to the rescue when banks block cryptocurrency transactions.
How to Find a Bitcoin ATM Near Me
Bitcoin is all about the digital economy and the cashless society. ATMs, therefore, should have no place in this virtual economy… right? Wrong, it turns out. Bitcoin ATMs are springing up all over the world, offering customers an easy way to buy Bitcoin on the high street. What is a Bitcoin ATM? Bitcoin ATMs look pretty much like any other ATM. The key difference is that while regular ATMs dispense cash, Bitcoin ATMs let people trade Bitcoin (and sometimes other cryptocurrencies, too), right in...
Once completely anonymous, the company is now regulated by the Financial Crimes Enforcement Network (FinCEN) in the U.S. after the United States Internal Revenue Service (IRS) raised the alarm on how they might be being used by money launderers.
To use Bitcoin Depot’s kiosk, one needs to provide their phone number and download a digital wallet app.
Other than Bitcoin Depot, other top providers of the machines in North America include Coin Cloud and CoinFlip, with 11.8% and 11.2% of the market, respectively, according to Coin ATM Radar data.
