Coinhub to install 1,000 Bitcoin ATMs at gas stations amid crypto banking cutoff

Coinhub to install 1,000 Bitcoin ATMs at gas stations amid crypto banking cutoff Bitcoin BTC BitcoinATM

- Bitcoin ATM operator Coinhub is looking to help address the issue of crypto de-banking by teaming up with more than 1,000 gas stations and store owners to install new crypto ATMs to allow crypto holders to buy and sell their tokens using cash.

For those that prefer more anonymity, the ability to insert cash and receive Bitcoin or one of 25 other cryptocurrencies instantly and securely is an ideal alternative to signing up for an account on an exchange like Coinbase, which has seen increasing scrutiny from regulators. Along with the recent collapses of Silvergate Bank, Silicon Valley Bank and Signature bank, the ongoing Operation Chokepoint 2.0 has left few reliable banking partners for crypto firms and their users.

Last year, Bitcoin Depot, the world’s largest Bitcoin ATM provider according to Coin ATM Radar, announced that it intended to go public through an $855 million special-purpose acquisition company merger deal with GSR II Meteora that would allow the firm to become a listed company. Once the deal is the company’s official name will be Bitcoin Depot Inc. and it will trade on the NASDAQ under the ticker symbol “BTM.

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