Bitcoin ATM provider Bitstop has partnered with Simon Property Group in a bid to expand the coverage of cryptocurrency ATMs across the country in malls.
The new locations for the ATMs include Carlsbad Premium Outlets in Carlsbad, Califronia, Mall of Georgia in Budford in Georgia, Miami International Mall in Miami, Sawgrass Mills in Sunrise, and The Avenues in Jacksonville, Florida.
Bitstop has been proactively pursuing an aggressive expansion of its Bitcoin ATM network in the United States. The CEO of Bitstop, Andrew Barnard, believes that most of the people who visit shopping malls lack the technical understanding of how Bitcoin(BTC)trade and blockchain technology work.
By putting the crypto ATMs at the center of the commercial activity, Bitstop hopes to stir an interest for digital currency among new audiences. Provision of an easy access is essential for engaging the interest of the people, and with this philosophy in mind, Barnard concluded by saying, “If you build it, they will come.”
Simon Mall is one of the largest operators of shopping malls in the United States. With its partnership with Bitstop, it plans to integrate Bitcoin ATMs into its shopping malls in various locations around the country.
The timing of the installation of these ATMs could not have been better. They come at a time when Black Friday sales and when shopping for the Christmas holiday is around the corner. Many crypto enthusiasts give Bitcoin as their preferred gift of choice to their friends and family during these occasions, and such digital coins are then spent for shopping. So theoretically the probability of commercial activity based on digital currency is the highest during this time of the year. And Bitstop’s ATMs are at the heart of this trend.
According to data published by Coin ATM Radar, until now in 2019 there are 4,119 Bitcoin ATMs functional in the United States. These cryptocurrency ATM machines are rapidly expanding the retail crypto space in the commercial universe.
Bitstop has been contributing to this trend since the company came into being in 2013. To this date, it has installed 130 kiosks around the country. Barnard says that the company plans to extend the network of its crypto ATMs to include more than 500 ATMs by the end of 2020.
While Bitstop keeps building on its success, some of the larger brands report even larger figures. These include LibertyX, which has recently installed its 1,000th crypto ATM a couple of months ago on its way to 100,000.