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Bitcoin Depot’s ATMs are Coming to Chicago

By Shannon Wilson | February 2, 2019
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Bitcoin Depot’s ATMs are Coming to Chicago

Home to some of the most influential exchanges in the cryptocurrency industry such as SeedCX and ErisX, it is no surprise that Chicago is opening up to the rapid development of Bitcoin, especially the installation of Bitcoin ATMs.

Atlanta-based Lux Vending is reportedly deploying 30 cryptocurrency ATMs across the city under the brand Bitcoin Depot. According to Chicago Business, these ATMs allow retails customer to trade physical USD for Bitcoin, Ether and many more digital assets.

Chicago is attracting more and more cryptocurrency kiosk companies because of its dense population and history as a financial hub. Brandon Mintz, the CEO of Lux Vending said that Chicago has a “very niche customer base.”

However, the adoption of such machines might be limited because of high transaction fee. Bitcoin Depot reportedly charges users up to 20% of the total amount of dollars at the machine.

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