It seems that Chicago is going to become a battleground for crypto kiosk companies looking to attract the city’s early adopters of digital currencies. Recently, according to Chicago Business, the city is about to receive an additional 30 cryptocurrency ATMs, adding to the existing 200 plus machines in the city. These Bitcoin ATMs will be provided by Lux Vending under the brand, Bitcoin Depot.
The new terminals will allow customers to trade fiat currency USD for Bitcoin, Ether, and other digital assets. They will join an ever-growing number of such machines in the city. Bitcoin Depot are not alone in providing those kiosks in Chicago. Other startups have already set up shop in the area. For instance, Red Leaf Chicago own 60 machines around the city, which represents around 30% of the total number of the companies’ machines, currently operational across 21 states.
In addition to Bitcoin Depot and Red Leaf Chicago is Athena Bitcoin. Despite the fact that this startup only owns three ATMs in Chicago, the company has set its sights further afield at the South American market, where digital assets are constantly gaining in popularity, largely through necessity.
According to Eric Gravengaard from Athena Bitcoin, Chicago’s “large degree of adoption” to cryptocurrency is largely driven by its “vibrant history” with the financial industry. Alongside with the growing number of crypto ATMs in Chicago, the city is the home of renowned crypto startups, like ErisX and SeedX. Moreover, Coinbase recently decided to open its operational offices in this vibrant city.
On the other hand, Brandon Mintz, the CEO of Bitcoin Depot, expresses his optimism towards the Chicago market and the expected mass adoption through the new Bitcoin ATMs installment.