Bitcoin Depot’s bitcoin ATM network continues to grow, with North American installations reaching 5,000 for the first time.
With this achievement, Bitcoin Depot has reclaimed its position as North America’s largest ATM network, the firm stated on Thursday.
In the previous six months, the number of kiosks has tripled, enabling more people to access to bitcoin transactions without the need for a bank or other third-party financial services provider.
The relationship between Bitcoin Depot and Circle K convenience stores has been a major source of growth for the company’s crypto kiosks. The two firms revealed in July that the convenience store network would be home to thousands of Bitcoin ATM machines.
Many people believe that the rise of crypto kiosks is a proxy for the retail adoption of Bitcoin (BTC) and other digital assets.
In El Salvador, where Bitcoin recently became legal tender, the number of crypto ATMs has exploded, making it easier for users to transact in BTC or convert it to fiat.
Salvadorans are also using the Chivo cryptocurrency wallet, which is endorsed by the government. More than a third of the country’s citizens, according to President Nayib Bukele, are “actively” using Chivo.
However, the expansion of Bitcoin ATMs is not without peril. The popular cryptocurrency exchange’s security arm, Kraken Security Labs, warned earlier this week that a “significant number” of Bitcoin ATMs are vulnerable to hacking since administrators never altered the default admin QR code.
If hackers gain the admin code, they can essentially “go up to an ATM and compromise it,” according to the security experts.
