The US-based crypto ATM operator Bitcoin of America announced that the number of cryptocurrency ATMs is expanding rapidly in 2022. Part of the expansion, in particular, is due to the addition of new cryptocurrencies to their machinery. In addition, the platform supports the purchase of Bitcoin, Litecoin and Ethereum.
After the growth of meme coins in 2021, Bitcoin of America also acquired Dogecoin and Shiba Inu due to increased demand. Bitcoin of America made the following statement on the subject:
“Bitcoin of America recognized the importance of offering a wide variety of different cryptocurrencies and decided it was time to add.”
Bitcoin of America is among the companies that are accelerating the installation of cryptocurrency ATMs globally. As of May 10, the number of global crypto ATMs rose to 37,338, up from 34,340 recorded on January 1, according to Finbold's report.
The number of firms willing to accept crypto payments in the US is growing rapidly
According to recent research, increased utility and accessibility is increasing its acceptance in the business world as the cryptocurrency ecosystem expands. In general, it has been found that firms understand the benefits of accepting crypto payments for their businesses by listening to their customers' needs and expectations.
A study titled "Merchants Prepare for Crypto," released June 8 by Deloitte, found that 87 percent of U.S. retailers believe businesses that accept cryptocurrencies have a huge competitive advantage over their competitors.
According to the report, over 85% of businesses prioritize supporting cryptocurrency payments, while around 83% prioritize stablecoins.
And 93 percent of companies that accept cryptocurrencies as a payment method reported significant gains, including an increase in revenue and brand visibility. The survey consisted of a sample of 2,000 senior executives from retail firms in the United States.