Bitcoin ATM Firm Partners With Largest Shopping Mall Operator in US

Published at: Nov. 26, 2019

Miami-based Bitcoin (BTC) automatic teller machines (ATM) firm Bitstop has partnered with the largest shopping mall operator in the United States, Simon Malls, to install Bitcoin ATMs at several locations. 

BitStop announced on Nov. 26 that the firm has already installed Bitcoin ATMs at five Simon Malls locations in California, Florida and Georgia. Bitstop co-founder and CEO Andrew Barnard said that the machines were installed ahead of the holiday season:

“With the strategic timing of this new installation of Bitcoin ATMs at Simon Mall locations, customers can conveniently buy Bitcoin while doing their Black Friday and Christmas holiday shopping.”

Bitsop, which claims to be licensed and regulated, plans to grow its teller machine network by over 500 locations by the end of 2020, according to Barnard.

The new partnership builds on the firm’s previous installation of a Bitcoin ATM at the Miami International Airport, which it announced in mid-October. 

Global Bitcoin ATM network grows

As Cointelegraph reported earlier this month, the number of Bitcoin ATMs installed worldwide surpassed a new milestone. Data at the time showed that there were over 6,000 such machines worldwide, over 65% of which are in the United States.

Still, authorities are increasingly wary of such services. The United States Internal Revenue Service’s Criminal Investigation Chief John Fort, for instance, recently said that the regulator is looking into potential tax issues caused by Bitcoin ATMs and kiosks.

In addition to possible tax issues, Fort claimed that the operators of crypto kiosks should be obliged to follow the same Know Your Customer and Anti-Money Laundering rules as other cryptocurrency-related businesses.

Tags
Bitcoin
United States
Atm
Related Posts
Circle K convenience stores will host thousands of crypto ATMs
The largest Bitcoin ATM operator in the world has said it will be expanding into Circle K locations in the United States and Canada. Bitcoin Depot announced today that more than 700 of its Bitcoin ATM machines had already been installed at Circle K convenience stores in 30 U.S. states as part of the new partnership. The crypto ATM distributer said the expansion could provide underserved communities with financial access tools and attract more people to the crypto space. “Over the last year, we have watched cryptocurrency gain mainstream adoption by wealth managers and investment firms, but what about the …
Adoption / July 22, 2021
Complex Compliances: Checklist for Crypto ATM Operators
The very first Bitcoin (BTC) ATM came to the United States in 2014 to Austin, Texas. This historic event occurred quickly after Canada pioneered the idea in 2013, and the excitement and demand for such ATMs have soared across the globe ever since. There are currently over 8,000 BTC ATMs in more than 70 countries worldwide. In fact, the highest number of Bitcoin ATMs was recorded in the U.S. in 2020, and as of April 2020, approximately 81% of global ATMs were concentrated in North America. Two types of Bitcoin ATMs exist, with one being more complex than the other. …
Technology / July 25, 2020
Bitcoin Purchases Roll Out to 2,200 US Coinstar Kiosks as Partnership Expands
Bitcoin ATM operator Coinme has expanded its bitcoin (BTC) purchasing options for United States residents to cover 21 states, the company confirmed in a press release on May 22. Coinme, which began as the U.S.’s first licensed bitcoin ATM provider in 2014, will now serve around 2,200 locations in the country via its existing partnership with coin kiosk operator Coinstar. As Cointelegraph reported, Coinstar first started selling bitcoin for USD in January this year, so far restricting the feature to the U.S. market. “Bitcoin and other digital currencies offer unique benefits to consumers — including the potential for more cost-effective …
Bitcoin / May 23, 2019
Number of Crypto ATMs Steadily Growing Amid ‘Crypto Winter,’ Data Shows
The number of new crypto ATMs around the world continues to grow despite the recent crypto market collapse, according to data. Crypto teller locator Coin ATM Radar presented the data in a report published Monday, Dec. 10. Coin ATM Radar’s information shows that in November, different ATM manufacturers opened 209 tellers around the world, and 68 of the previously installed ones closed. The net growth of 141 ATMs is approximately the same as in October, when the total amount reached 150. The United States remains the dominant country with 70 new machines installed; at year’s end, there are currently 2,243 …
Bitcoin / Dec. 21, 2018
Hodler’s Digest, October 22-28: US SEC Mulls Over Bitcoin ETFs, While Bakkt’s BTC Futures Inch Closer To Approval
Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link. Top Stories This Week US SEC Releases Memorandum From Meeting Over Bitcoin ETF Proposal The U.S. Securities and Exchange Commission has published a memorandum from a meeting about the Bitcoin exchange-traded-fund (ETF) proposal from VanEck and SolidX that included EC Commissioner Elad L. Roisman and his counsels Dean Conway, Matthew Estabrook, and Christina Thomas, along with representatives …
Bitcoin / Oct. 28, 2018