Placeholder Image

Subtitles section Play video

  • New York City bodegas, already famous for consumers being able to buy just about anything anytime day or night and now Bitcoins are added to the list.

  • Bitcoin a T M's are popping up in the city and around the country in corner stores, Delhi's gas stations and other easy access consumer outlets, fueled by frenzy and crypto trading that recently sent Bitcoin prices to a record high above $60,000 a pop.

  • New York City deli owner Gumulya doesn't even understand what Bitcoin is, but he does understand what it means for his bottom line.

  • Bring a lot of people to solve more people come into the store.

  • Maybe people use the Bitcoin.

  • They use that they buy some stuff from the store and bring more business.

  • So it's very good for the business.

  • Kiosk operators like Coin Flip and Coin Cloud have installed thousands of Bitcoin ATMs, and executives say they are scouting out other spots in areas where their competitors have yet to reach.

  • Chris Um, is CEO and co founder of Liberty X, which provides the software for Bitcoin A T.

  • M's.

  • He says his product is helping to bring the complex world of Bitcoin to the masses.

  • So when you look at traditional financial services, it's really hard to get people to switch because it's all about trust and most of the online exchanges today, you have to link your bank account, you enter all your information and do a wire or bank transfer, and that's just too much friction.

  • So what we found is actually that a lot of these local dailies convenience stores they actually have the best locations because they are centerpieces of their neighborhood.

  • So they made very natural partners for us to go that extra and last mile.

  • Users can buy or sell Bitcoins or a fraction using the A T M and send Bitcoins abroad, all with anonymity.

  • But it comes at a much steeper price than cash, and a traditional 80 M fees can range from 6% to 20% of the total transaction, according to Cryptocurrency compliance firm Cipher Trace.

  • Government agencies say that raises red flags and there is concern about the potential for illicit activity.

  • But that may not stop a Bitcoin ATM from popping up at a store near you.

  • As of January, there were more than 28,000 Bitcoin ATMs in the United States, according to Independent Research site.

  • How many Bitcoin ATMs dot com.

  • More than one third of those were put in place just the last five months alone.

New York City bodegas, already famous for consumers being able to buy just about anything anytime day or night and now Bitcoins are added to the list.

Subtitles and vocabulary

Operation of videos Adjust the video here to display the subtitles

B1 bitcoins coin popping buy traditional york city

Bitcoin ATMs go mainstream in the U.S.

  • 10 3
    林宜悉 posted on 2021/03/16
Video vocabulary