US is world’s largest Crypto user country, according to the report given by CryptoHead of Crypto Education Base. They have also searched various factors which are affecting cryptocurrencies all over the world as some factors could be governments legal framework, ownership of any such currency. In addition to these factors, Crypto ATM’s expansion, Bitcoin and Dogecoin’s access.
As discussed earlier that cash has become less preferred amongst the public in such a technological era and so for transferring amount digitally; potential investors are holding their crypto wallets, Crypto ATM has added to digital transfer of cash for its prospective consumers.
Wherein, Crypto ATM facilitates people in purchasing their cryptocurrencies with any credit or debit card or even cash as it’s a physical device. But some ATMs are bi-directional which allow it’s users to sell their cryptocurrencies in return for cash.
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United States ATM Network
As United States is having compact Crypto ATM network which is growing gradually, so it has got its scoring as 7.3 out of 10 in Crypto Head. US in 2018 was having 470,000 ATMs where, round the globe the digit was just 17,436 ATMs of Crypto in 2021.
Canada; second in ATM Network
Crypto ATMs number which Canada is holding is 1,464, while UK has only 200 Crypto ATMs and standing on third position in ATM Network. But Crypto ATMs are now been in trend due to their feature of allowing its users for money- laundering and this fact is of big concern with its growing network.
During the tenure of pandemic this feature was uphold by cyber criminals so as to transfer heavy amounts of cash across the border. But certain countries of concern like US and Mexico stopped cross border shipments in lieu to the awareness of the fact of such activities by criminals. This concern is been taken on a serious note by the authorities even though they are not having any solid data in concern with this activity. In Vancouver as well, authorities are deciding to stop the growth of Crypto ATM even with the start of it’s first ATM in crypto exchange market cause of the same concern.
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