A link has been sent to your friend’s email address. A Bitcoin ATM near the ice and pop at a Citgo Gas Station on Conner in Detroit
(Photo: Bitcoin of America) Walk into the Shell gas station on the corner of Nine Mile and Greenfield roads in Oak Park, head toward the back of store, and there, next to the Better Made potato chips selling for $1, sits an ATM selling Bitcoin.
“The fastest and most secure way to turn your Bitcoin to cash and your cash into Bitcoin,” reads the screen for the Slon BTM. Nothing is all that secure about Bitcoin, a cryptocurrency that had one incredible boom in 2017 and what’s looking like one lingering bust in 2018. Bitcoin’s price traded as high as nearly $20,000 in late 2017 — up from just $1,000 in early that year. But it’s down nearly 70 percent in the past six months.
Bitcoin’s price was around $7,700 in trading June 5. And it was down to around $6,154 by June 22.
Bits of bad news keep piling up. A financial regulator in Japan in late June ordered crypto currency exchanges to stop creating new accounts while improvements are made to stop money laundering and terrorist financing.
Sign advertises the Bitcoin ATM in the “25 Hour Liquor” store in Inkster. (Photo: Maryann Struman) In mid-June, there were 80 Bitcoin ATMs in metro Detroit and about a dozen elsewhere throughout the state, according to Coin ATM Radar. There were an estimated 2,032 Bitcoin ATMs in the United States. More frequently, Bitcoin ATMs only sell Bitcoin and won’t buy it back. Read more from freep.com…
thumbnail courtesy of freep.com