A different kind of ATM is popping up in stores, supermarkets and malls across Southwestern Pennsylvania. These, however, are not intended to spit out dollars.
They offer cryptocurrency — a decentralized, digital currency that has no government backing or regulation. Its value is volatile, fluctuating like a stock. It relies primarily on how much investors will pay and speculation on its future worth.
In the past year, dozens of cryptocurrency ATMs have gone live throughout the region to make it more convenient for people to buy and sell digital money.
Operators such as American Crypto, Bitcoin Depot, Bitcoin of America, CoinFlip, Freedom Gateway, GetCoins, RockItCoin and others have installed machines in businesses, mostly convenience stores. The ATMs also can be found inside Giant Eagle stores, Ross Park Mall and Pittsburgh International Airport. Others can be found across Westmoreland County and the Alle-Kiski Valley, in Downtown Pittsburgh and Lawrenceville, in Bethel Park and Mt. Lebanon.
A corporate competitor such as Coinstar Asset Holdings of Bellevue, Wash., has had crypto ATMs in the Pittsburgh region since 2019. Atlanta-based Bitcoin Depot has its machines scattered in about 100 businesses across the state. Nationwide, there are about 30,200 crypto ATMs, according to ATM Marketplace.
regulation. Its value is volatile, fluctuating like a stock. It relies
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