LAS VEGAS (FOX5) -- Bitcoin ATMs are expanding in Las Vegas.
The company CoinFlip says it is trying to put down "as many Bitcoin ATMs as possible." The ATMs allow anyone to convert cash to more than nine forms of cryptocurrencies.
CoinFlip's president and CEO told FOX5 that the demand for cryptocurrency is "sky high."
"We want to make cryptocurrencies as accessible to people as possible," said CEO Ben Weiss.
All you need to operate the ATM is a phone to scan a QR code and cash to put into the machine to be converted. Unlike an exchange where you sell or buy Bitcoin, the ATMs do not require a bank account, Weiss said.
"The ATMs are good if you're buying small amounts. Our average transaction's in the hundreds of dollars, so you don't want to pay a wire fee if you're going to buy $40 or $60 worth of Bitcoin," he said.
Weiss added that the ATMs typically can process transactions faster than a traditional exchange.
The company says it has more than 2,000 ATMs worldwide. ATM locations can be found on CoinFlip's website.