Bitcoin ATMs have come into the limelight following spiraling issues with
cybersecurity, high cases of
scams, and the
rising number of closures worldwide. From $110M loss in 2023 to an average of over $10M lost monthly in 2024, Bitcoin ATMs have provoked concerns and global crackdowns.
Illegal ATM networks are being charged, atm networks are declining, with over 600 machines shut down within two months. These unwanted occurrences are stirring the sentiment of 'Extreme Fear' within the cryptocurrency industry.
Amid these ruckuses, there's been a move by some regulators to put a cap on transactions. Recently, a California court upheld a daily cap of $1000 on Crypto ATM withdrawals. At the same time, other regions like Australia show a surge in Crypto ATMs, with the total nearing its all-time record. This statistic indicates a mixed market, with various countries exhibiting different trends.
Despite the risks,
ATM Coins, constituting a major part of the bitcoin coins exchanged at these ATMs have engendered a line of questions – are they a hidden threat or a convenient portal for scammers? Regardless, the streak of
scam activities is becoming more sophisticated, and there's an urgent call for users to learn the dynamics of these machines in order to navigate and stay safe.
ATM Coin News Analytics from Tue, 12 Dec 2023 08:00:00 GMT to Tue, 10 Sep 2024 21:19:29 GMT -
Rating -8
- Innovation -3
- Information 8
- Rumor -6
