Bitcoin ATMs Are Popping Up In Charlotte

CHARLOTTE, NC.– Cryptocurrency ATMs are popping up in Charlotte. They’re making it easier than ever to access bitcoin, and you don’t have to risk your banking information. Bitcoin is essentially digital money that’s a fairly new form of cryptocurrency. It’s not regulated by any government entity.

Better Business Bureau President Tom Bartholomy says there’s a reason why cryptocurrency ATMs look so similar to bank ATMs.

“I think it’s more of a trying to make it a generally accepted way of doing business. That there are businesses now online and offline that are taking bitcoin for payments for purchase,” says Bartholomy.

These CoinFlip crytocurrency ATMs are in three vape shops in the Charlotte region. Native Vapes in Steele Creek is one of them. Owner JD Canty says the ATM is helping with business.

“Half of the customers that use the bitcoin ATM are vappers, they’ll come in and actually purchase something here. They do give us a small percentage of the transactions that come through,” says Canty.

You put in your phone number on the touch screen, then you get bar code that you can scan. Then put in cash that is transformed into digital bitcoins in a virtual wallet. You can only do one way transactions from cash to bitcoin.

“It’s rather baffling that there’s a market for this product this early in the development of cryptocurrency,” says Bartholomy.

Coinflip says its goal is to make digital currency less confusing, and user friendly. They plan to upgrade the ATMs in the next few months so you can cash out your bitcoin.

Right now, one bitcoin is worth about $9,000.