Any idea why the concept of crypto ATMs failed ? It failed to become big ? Is it because of strict goverment regulations ?
I mean it's definitely not a small presence! There has been a stark drop this month in machines due to some regulation whispers and proposed senate bills to monitor the clients and put limits on buying, which is bullshit. Anyone won't just be able to drop 10k in a machine anymore which kills operations profits and therefore we are seeing maybe some divesting. They are targets for scsmmers to hack and also used as a vehicle to get bitcoin from their victims who fall for schemes. Bitcoin ATMs really aren't great in general because of high fees and not really any anonymous aspect due to KYC and AML. Still 35+k machines in the USA alone still which takes up the bulk of the market isn't bad. Slight drawback but I don't think we will see them going anywhere for good for sometime.