Topic: Crypto ATM firm 'Bitcoin Depot' will go public on Nasdaq starting July 3 - page 2. (Read 237 times)

Where did you get this conclusion from? As far as I'm aware, there are a lot more users who are fine with KYC and stuff like that. If you're talking about most users in this forum, I can see that. But I doubt the average joe values privacy more than flexibility.

That being said, not really sure it will impact any adoption. As far as I can understand it, this is basically a listing on an exchange. If the company has no plan to add more ATMs or something similar, I don't think the listing matter that much. CMIIW.

That depends very much on whether they have to complete KYC in order to trade with them. I just searched and I see that you can trade without KYC below certain limits, but they don't specify which ones.

If this is not the case, this type of ATMs have no future, because they have high fees. The main reason why people pay these fees is to do it without KYC.

It drives adoption as pakhitheboss said but to me it is still in minimal number because most of bitcoin enthusiasts are core privacy driven people, and these ATMs do not guarantee that because apart from them being a physical entity they also sometimes ask for identification of the person. Also there fees are generally higher than the other methods of getting bitcoin except otherwise the mempool is congested which I think it also affects them. As for the speed they aren’t faster as people point it out just a little bit than the usual way, because they would still generate transaction ID for you to wait or later get the confirmation. Aside the only advantage of using cash to buy bitcoin from it, there isn’t any too great advantages it has.

The decision for cryptocurrency firms to go public can have both benefits and drawbacks. Going public can increase the visibility and legitimacy of the cryptocurrency industry, attracting attention from mainstream investors and regulators. It also allows firms to raise capital for expansion and innovation.

Publicly traded companies are subject to regulatory requirements, which can enhance transparency and governance within the industry. However, going public may lead to increased regulation (which many people don't want), potentially compromising cryptocurrencies' privacy and decentralization principles.

It's a lot to think about.

I don't think getting listed on Nasdaq will drive the Bull market. What we are seeing is just the effects of ETF and if one of them gets approved you can expect Bitcoin to hit 40k.

Crypto/Bitcoin ATM does help in Bitcoin adoption but they are not the best place to buy or sell Bitcoin. The reason being high transaction fees, less to nil security and you might also face technical issues. It is better to use exchanges rather than ATM.

This is great news, I have seen many great news related to Crypto and Bitcoin in general that I am sure Bitcoin is about to hit $40k ranges very soon unless someone does something wrong. **rolling eyes on Binance/CZ**

Also, these ATMs will give more power to the decentralized users and will provide an instant conversion to real world money. This is great.
Let's see how their stock does in the upcoming weeks.

Wow so it actually is going to go live.

For those that don’t know. This was announced like last Summer and was posted on the nasdaq website so it was a legit source. And then it seems like it went nowhere but it’s good to know that it’s actually going live.

With everything going on with CEX, many will simply go to an old fashioned Bitcoin ATM as long as the fees aren’t crazy.

Bitcoin Depot or BitDepot?

I only found BitDepot when I typed Depot at https://coinatmradar.com/manufacturers/
BitDepot cryptocurrency/cash exchange service provider

From the logo I think iit is not BitDepot which is actually one of biggest Bitcoin ATM manufacturers.

Because it is not BitDepot, the article is an amplification of Bitcoin Depot which is not one of largest cryptocurrency ATM firms.

Bitcoin Depot, one of the largest cryptocurrency ATM firms in the United States, has announced the closing of a merger deal allowing the company to go public.

In a June 30 announcement, fintech firm GSR II Meteora Acquisition Corporation said its stockholders had approved the merger for the firm to act as a special purpose acquisition company for Bitcoin Depot. The deal, first reported in August 2022, cost $885 million and is expected to allow investors exposure to Bitcoin Depot on the Nasdaq starting July 3.

According to Bitcoin Depot founder and CEO Brandon Mintz, the merger deal was aimed at supporting “numerous growth opportunities” and promoting the adoption of Bitcoin

in North America. Investors will be able to find shares of Bitcoin Depot under the ticker symbols BTM and BTMWW for its common stock and public warrants, respectively.

The announcement came amid regulatory scrutiny of firms in the U.S. offering crypto products or services. The Securities and Exchange Commission filed lawsuits against exchanges Binance and Coinbase for alleged unregistered securities offerings. However, investment vehicles with exposure to crypto also seem to be on the rise following BlackRock filing an application in June to list a spot Bitcoin exchange-traded fund.

Founded in 2016, Bitcoin Depot is one of the biggest crypto ATM firms in North America, with more than 9,130 locations, according to its website. In May, fellow ATM provider Bitcoin of America announced it would shutter operations in Connecticut following the state’s Department of Banking saying the firm didn’t have the proper licensing... NEWS SOURCE