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Number of Bitcoin ATMs Rises to 285

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Joshua Cook is a writer and reporter for Truth In Media. He has interviewed many politicians including Rand Paul, Ted Cruz, Walter Jones, Bob Graham, Trey Gowdy and thought leaders who shape U.S. policy. Cook is also an associate producer of the mini documentary: CDC, Vaccines and Autism. If you have any tips please email him at joshua@truthinmedia.com. Find him on Twitter @RealJoshuaCook

Bitcoin, a cryptocurrency, got it first ATM about a year ago. Today, Vox is reported that there are now 285 Bitcoin ATMs around the world, making it easily to send cash than ever.

To send cash, users no longer have to turn to places like Western Union or Moneygram. At a Bitcoin ATM, a user converts dollars to Bitcoins and sends that to the recipient who then converts the currency into cash.

The money clears in about 60 minutes, but users can expect to pay fees as high as 5 percent at the end of each transaction.

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The two companies are teaming up to invest in these ATMs are BitcoinATM360 and CoinsetterCheck out the press release here.

 

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