GetGo to get Bitcoin Depot ATMs in metro stores
Photo courtesy of Bitcoin Depot
GetGo Café+Market, a unit of Giant Eagle, has agreed to let Bitcoin Depot install bitcoin ATMs in 125 of its metropolitan locations, the companies announced Tuesday.
The bitcoin ATM kiosks are expected to draw traffic to GetGo’s locations and allow the convenience store chain to better compete with rivals Circle K and Kwik Trip, which also offer retail space for bitcoin ATMs. Kwik Trip partners with Coinsource, another bitcoin ATM network, while Circle K also works with Bitcoin Depot, which has about 7,000 kiosk locations in 48 states and 10 Canadian provinces. It has 1,900 bitcoin ATMs in Circle K stores
“By partnering with convenience stores, Bitcoin Depot is able to expand its reach and make it more convenient for customers to buy bitcoin as convenience stores typically offer long hours of operation and easy parking,” said Sarah Wessel, director of sales at Bitcoin Depot. which is based in Atlanta.
Many bitcoin users don’t have access to traditional banking services, Wessel said. Bitcoin ATMs in convenience stores have provided a needed alternative, and Bitcoin Depot has more ATM locations than any other provider, the company said.
Headquartered in Pittsburgh, GetGo has more than 270 locations in western Pennsylvania, Ohio, northern West Virginia, Maryland and Indiana.
GetGo said its focus remains on providing food and convenience products to consumers, but allowing bitcoin ATMs will provide another reason for customers to visit its stores. “Providing our guests with high-quality food and the best in convenience is our top priority at GetGo,” said Brandon Daniels, GetGo’s PR Manager. “We’re constantly looking for new ways to serve them better, and new technology is just one of the ways we can exceed their expectations.”
Bitcoin Depot said partnering with GetGo will allow it to increase its visibility and attract new customers due to its extended hours and the foot traffic it receives throughout the day.
“Convenience store owners benefit from the partnership with Bitcoin Depot because it provides them with an additional revenue stream. Overall, the convenience store market provides a great opportunity for Bitcoin Depot to expand its services and reach a wider audience, while providing a convenient solution for those who want to buy Bitcoin, Wessel said. CSP Daily News.
While bitcoin, an alternative currency stored in the digital space, has experienced ups and downs this year—several competitors to market leader Bitcoin Depot are under heat from regulators after filing for bankruptcy protection or failing to meet their obligations to customers holding bitcoins—the cryptocurrency recovers.
As uncertainty over the economy this month has sparked a liquidity problem at several California banks, bitcoin is making a comeback, even as some investors continue to bet against it, The Wall Street Journal reported Wednesday. The world’s largest cryptocurrency is up 21% in March and about 70% since Jan. 1, the Journal said.
Bitcoin Depot said the turbulence in the traditional financial markets is making cryptocurrency more desirable for some people. It is often bought by those who do not have access to traditional financial opportunities.
“Bitcoin is a decentralized digital currency that operates on a blockchain network, meaning it is not subject to the direct control of any government or financial institution. This feature of bitcoin makes it a viable currency for people to consider in times of turmoil in the mainstream the financial markets, said Wessel CSP Daily News. “The supply of Bitcoin is limited to 21 million, which means it cannot be devalued through oversupply. This means that it can be a more stable store of value than traditional ones.”
The convenience store market provides many opportunities for Bitcoin Depot to expand its services and reach a wider audience, Wessel said.
The partnership with GetGo is expected to strengthen Bitcoin Depot’s presence throughout the Midwest and Mid-Atlantic.
“We are thrilled to work with a leading convenience store brand like GetGo to grow the footprint of Bitcoin Depot BTMs across multiple state locations,” said Bitcoin Depot CEO Brandon Mintz. “We are confident in the technology’s ability to provide easy and convenient crypto access to GetGo’s existing customers, while adding holistic value to their business and encouraging new customer traffic as well.”
Bitcoin Depot allows users to convert money to bitcoin through the BDCheckout feature on the app and at the kiosks, the company said.
The vertically integrated Bitcoin Depot uses its own operating system software called Bitaccess, which enables a streamlined transaction process and supports BDCheckout.
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