Fewer Bitcoin transactions, services, and other activities took place in the Big Apple after BitLicense was implemented, which had also forced certain Bitcoin startups and businesses to seize operations in New York.
This threatened the adoption of the digital currency, but Bitcoin use in New York may gain more traction with the installation of another Bitcoin ATM last month.
Bitcoin ATM provider CoinSource proudly provided New York with an additional Bitcoin-dedicated machine put up at the N&N Delancey Smoke Shop in the Lower East Side neighborhood of New York City.
According to Sheffield Clark, the managing partner of Coinsource, the placement of the newest Bitcoin ATM is a fine spot for the machine to grow since it is known to be one of the trendiest blocks in Manhattan.
This one-way Bitcoin ATM in the heart of New York City is now fully operational and is ready to conduct Bitcoin exchanges seven days a week from 10 a.m. to 3 a.m. New Yorkers who wish to acquire Bitcoin for cash can do so through this machine.
NYC Bitcoin ATM offers secure and instant crypto acquisition
Other than being the first to be installed in the Lower East Side, the newest Bitcoin ATM enables the people to acquire Bitcoin through a secure platform that is covered by low transaction fees.
Clark shared in an online interview that other than being a secure and practical exchange platform, the CoinSource Bitcoin ATM offers hassle-free transfers since it is optimized to be compatible with any Bitcoin mobile wallet:
“We are proud to provide New Yorkers with access to low fee, secure Bitcoin ATMs. CoinSource machines adhere to cutting-edge security standards and provide convenient, instantaneous transfers compatible with any bitcoin mobile wallet.”
On another note, CoinSource has already submitted the necessary requirements and application for New York’s BitLicense. Therefore, users need not to worry about bypassing any cryptocurrency regulations when transacting with this latest machine installed.
Moreover, CoinSource has already set up a total of 15 Bitcoin ATMs around Manhattan and several of the same machines in other states like San Diego and Las Vegas.
How does this affect Bitcoin gambling?
Many corporations, entrepreneurs, and industries view the trends, demands, and developments in New York to be highly influential. Thus, a positive reception toward the Bitcoin ATMs would signal a favorable response to Bitcoin per se. This would also influence the public to have similar perceptions of other sectors in the cryptocurrency landscape, including the Bitcoin casino market.
Although online gambling is restricted in the US, except for select markets, and that Bitcoin gambling in New York may still not have the green light, the increasing support for Bitcoin usage in the city may influence other cities, countries, regulators, and authorities to be receptive of what Bitcoin technology brings to the table.
Better yet, the use of Bitcoin ATMs may also inspire land-based casinos to incorporate such machines and begin to accept the digital currency in their restaurants and gift shops like the case in The D Las Vegas Casino and Hotel.
In reality, however, these will less likely happen in a snap since a stronger support for Bitcoin and a better understanding of this technology are essential. Nevertheless, the fact that more Bitcoin ATMs are visible in New York hints a positive reception of the cryptocurrency.