How A "Bitcoin ATM" May Offer Equal Access To Digital Money In America
For McDonalds MCD, the disruption of offering food at half the price, using a self-service counter, and pre-cooked hamburgers under heat lamps, introduced fast food to America. Whether it is the security of knowing FedEx FDX will deliver your package by the next day for a business deal or Amazon AMZN providing you groceries to your door later that evening within a 2-hour window, Americans have a need for speed.
Prior to COVID-19, the banking industry seemed tone deaf to this type of service, with customer checks held for days at a time and overdraft fees close to $40 are charged. With the current pandemic, FinTech companies have a golden opportunity to shine as the next ‘McMoney’ for America when it comes to fast service with a smile.With national banks announcing last week they were not ready to offer the U.S. Government’s payment protection program loan designed to provide economic relief during COVID-19, the opportunity to improve customer experiences with accessing money is at an all-time high.
At least that is the hope, particularly for the crypto industry. Even the idea of using a #Bitcoin ATM may become less of a novelty and more of a necessity in the search for cash. With a top ten ‘Bitcoin hot spots’, San Francisco, Tampa, and New York are U.S. cities in the top ten where Bitcoin ATMs are present and merchant acceptance of Bitcoin is high as well, so the use of this cryptocurrency to make purchases during the crisis while stock portfolios are down may also be on the rise.
Indeed, the latest idea of the digital dollar in a draft proposal by Congress for the economic stimulus and still is present in two separate stand-alone bills, includes setting up digital identities at the U.S. Post Office as well as offering ATMs there for citizens to access these emergency funds. A partner that has the sophistication and know-how to provide an ATM that provides both digital money and cash could be suddenly be quite critical for access to digital money for citizens who may be unbanked or not have access to the Internet.
ycobitcoin, with a large number of Bitcoin ATMs (#Btm - #Bitcoinatms) in the United States, can be a very interesting for the US Government and other companies to offer the US national crypto as well as other cryptos. Bitcoin ATMs are positioned to offer the purchase as well as the sell of any #cryptocurrency in existence, making it very attractive for investors, banks and federal institutions.
ycobitcoin offers the lowest fees in the industry of BitcoinATMs as well as offer OTC services.
This article is from: https://www.forbes.com/sites/jasonbrett/2020/04/06/how-a-bitcoin-atm-may-offer-equal-access-to-digital-money-in-america/#4f56882b3c57