PASO ROBLES, Calif. — The kiosk at this corner gas station just off Highway 101 in California’s hilly Central Coast warns that you’re on your own: “The attendants at this store cannot help you with this machine.”
The kiosk stands right beside a more typical cash-withdrawal ATM, with an identical keypad and slot for a plastic card. But it’s bigger and glitzier, with a brightly colored screen like a casino slot machine. It takes your cash and converts it to Bitcoin in a virtual wallet.
Welcome to the world of cryptocurrency ATMs, also known as “BTMs” (the B is for Bitcoin), which have mushroomed in the past several years, even if most people don’t understand exactly what they’re for. The precise number of these machines in the United States seems to depend on who’s counting, but most analyses put it at about 34,000. That’s nearly 90 percent of the world’s total tally. Canada ranks a distant second with an estimated 2,500.
Crypto fans and crypto companies see the machines as an...
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