According to a research firm known as Data Light, the number of crypto-ATM’s doubled this year as the global acceptance and adoption of cryptocurrencies became more visible. As per Bitcoin.com, there are now more than 4,000 cryptocurrency teller machines spread across 80 countries to facilitate the exchange of fiat currency for digital assets.
An average of six machines per day throughout the year was calculated to be the installation rate by Data Light. In a tweet, the company, which is a cryptocurrency data analytics platform, suggested:
“Even despite the ongoing bear market, the number of crypto ATMs double in 2018. Apart from Bitcoin, such machines offer Ethereum, Dogecoin and other cryptocurrencies. It’s obvious that the year been good for the crypto-ATM business as on average there were 6 crypto ATMs installed each day.”
On the adoption front, the blockchain and cryptocurrency space has shown zest, especially in 2018. The Lightning Network has been announced to be launched, the RippleNet received commercial adoption, the ASEAN region brought more regulatory clarity regarding cryptocurrencies and blockchain and such developments have pushed the adoption of cryptocurrency ATMs.
Even when it comes to nations adopting cryptocurrencies as their national choice of money and others exploring the option, there has been remarkable progress. Countries like Venezuela, with their own token called Petro, and Malta, with its commitment to technological advancement, have been a huge contribution to the acceptance of digital assets.
However, this year also experienced a noticeable decline in the market front as most of the cryptocurrencies witnessed devaluation after peaking. Bitcoin, as well as almost all altcoins, were believed to have faced a steep collapse of more than 80% in their value since December 2017.
Robbie Coon, an entrepreneur and a blockchain space follower on Twiter, stated:
“Currently watching a bitcoin atm being installed at the mall.
The future sure is weird.”
Chris McAlary, a cryptocurrency, and blockchain space enthusiast, also wrote:
“Santa’s coming early! 25 brand new @coincloudATM BTMs being installed before Christmas. #bitcoinnews #bitcoin #bitcoinatm”
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Industry player Fumgo gives 5 tips on how to trade cryptocurrencies
Look, you could have bought one bitcoin in April for $4,000 and sold it today for $8,000.
It sounds like an easy way to earn money, right? The crypto trading, however, isn’t that simple. In fact, the always-changing price, high stakes, and online scams make it also dangerous for those who know little about it.
So when you take risks for rich rewards, make sure to follow these tips:
1. Use reputable exchanges
To trade cryptocurrencies, you go to exchanges, internet platforms that help buyers and sellers meet.
But high market demand brought in a number of phony exchanges. You must keep an eye out for them and make sure you use only reputable ones like Bittrex, Huobi Global, OKEx, HitBTC, or Binance.
There are also trading terminals like Fumgo. The terminals let you trade across multiple exchanges — including the ones mentioned above — from one interface. In fact, it’s even safer to use them, because they offer two-factor authentication when you log in, unlike exchangers.
2. Learn from professionals
Crypto trading is a job. You need to monitor the price movements and make decisions. This is hard to do without knowledge about the market.
Find real traders and learn from them. Some of them post videos on YouTube.com, others publish articles. It takes time, but it’s well worth it.
At this stage, beware of scammers who have never traded cryptocurrencies but promise to teach the craft. The internet is full of free tips, but these “experts” sell them as professional knowledge.
There’s a way to shortcut the learning curve: the Fumgo terminal has a feature that allows mirroring the traders. If you switch it on, it will make your account copy the actions of chosen professionals automatically. The system verifies them — only true pros allowed.
3. Practice with small sums of money
Seen enough and feel confident? Then it’s time to practice. But don’t rush, start with small investments.
The cryptocurrencies rates change unpredictably, so invest the amount of money that you wouldn’t regret losing. Practice as much as possible this way and when you manage to earn regularly, raise the stakes.
4. Stick with one strategy
Every trader has their own style. Copy one and stick with it for some time, see how it goes. If you change your strategy too frequently, you won’t be able to see the result.
Three tricks are universal, however: 1) make a limited amount of transactions per day to approach trading energized; 2) pay attention to Bitcoin, its price influences other currencies; 3) keep statistics on your transactions to understand what strategies work best.
For the latter, there’s a shortcut, too. The Fumgo terminal tracks your stats automatically and shows the history of all the transactions.
5. Trade different currencies
Bitcoin isn’t the only cryptocurrency worth attention.
The price for Monero, for example, has been changing constantly from $10 in 2017 to $100 today. At some point, it even cost $500. The same with Dash and Ethereum.
Pro traders usually devote only 5–30 percent of their capital to one cryptocurrency. Follow suit.
The easiest way to keep track of your cryptocurrencies is via terminals: in one interface, you can compare the rates of your cryptocurrencies across various exchanges and sell each where it’s most profitable. Terminals usually have subscription models: Fumgo, for example, costs $20 a month but offers a trial week and two free months for subscribers.
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