Bitcoin ATMs popping up in West Texas as the cryptocurrency market expands
ODESSA, Texas (KOSA) - The cryptocurrency market is going mainstream by now allowing people to exchange cash for bitcoins.
Bitcoin ATMs, like Quad Coin, have popped up at gas stations and grocery stores. It allows customers to purchase up to $18,000 worth of bitcoin with no third-party involvement.
At One Stop gas station, you can snag a snack while buying bitcoin.
“Yea, I’ve had the machine for six months, and people come in and out.”
Jodh Singh, the owner of One Stop, says having the machine has brought in business.
“Yeah, because people come and put the blank in the machine, and then they buy something like gas, maybe soda or cigarettes,” said Singh.
Want to know how to use it?
First-time users will register for an account at the machine. It will then text you a one-time pin to verify your information. Then you scan a QR code for your crypto wallet and enter your cash to own bitcoin, or at least part of one.
“(The machine) is going to tell you exactly how much it’s equal to in bitcoin, and also give it your destination address, and you’re going to hit ‘Buy Bitcoin.’”
As of Thursday, a single bitcoin is valued at $32,251.
Because the process is so simple, Quad Coin says it’s looking to expand to more locations in Texas.
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