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50 Most Influential Companies of the Year 2021

Bitcoin Depot - Fastest growing multi-cryptocurrency ATM Network

Bitcoin Depot - Fastest growing multi-cryptocurrency ATM Network

The Cryptocurrency market has been gaining a lot of popularity like never before. It has existed for more than a decade and has consolidated itself with several practical use cases. People have lately realized its true potential, which has forced retail investors and even some countries to adopt cryptocurrencies as the future currencies. Bitcoin Depot, which has been taking the Crypto awareness ahead since 2016, is the fastest-growing multi-cryptocurrency ATM network and has increased its foothold in almost more than a hundred locations in the US to allow common people to sell and purchase Crypto just as they withdraw or deposit cash from the ATMs. We interviewed the executives at Bitcoin Depot to know more about the company and its services. Here are a few excerpts of the interview:

Q. What is the aim of Bitcoin Depot?

Our top goal is to Bring Crypto to the Masses™. We want cryptocurrency to be accessible to all, including the unbanked, underbanked, and those who are just getting started in the crypto world. We aim to bring a fast and easy process to all, not just those who are "tech-savvy."

Q. Why is Bitcoin Depot so relevant in today's age? Could you give us some context?

Bitcoin Depot® is the largest and fastest-growing cryptocurrency ATM network. Increasing the popularity, knowledge, and corporate adoption of Crypto has made companies like us essential. It's important that everyone has access to buying and selling Crypto, and we make that a possibility. Crypto is the new age of finance, and we predict that it will continue to grow and flourish. As we reach these goals, we can make sure all of those in the crypto community, along with those who are eager to join, are getting their needs met.

Q. How do you make it convenient for people to buy and sell cryptocurrencies fast?

Bitcoin Depot® offers a quick and easy process to obtain Crypto both at our kiosks and online. With our kiosks, all you need is cash, your phone number, and your own crypto wallet. The machine will take you through a very easy step-by-step process, making for a very quick and convenient way of purchasing your Crypto. What's more, you can buy Crypto online from your device for a convenient experience. You can also use our new app as a one-stop-shop for all things Crypto.

Q. Could you tell us about your presence in the US? Do you have any plans of increasing your presence outside the US?

With over 3,000 locations in the United States and Canada, we're just getting started. We plan to increase our footprint to 6,000 ATMs by the end of 2021. We're also working with Canada to install machines in various locations such as Montreal and Toronto, with more to come soon. We're excited to expand even further within these two countries and are even more excited to see where else the future takes us.

Q. What does innovation mean to you, and how do you deliver it through your services?

To us, innovation means constantly adapting to new challenges and demands. It means continuing to bring forward new and exciting ideas so that our customers can have the best experience possible. We are constantly improving and adding to our services. Something that started small has now grown into a company that provides fast and easy ways to buy and sell Crypto through our kiosks and our online options. We've continued to add to our services, including the upcoming launch of our new app. We create positive change in the fast-paced world of Crypto and see to it that our customers are happy with our offerings.

Q. How do you ensure security on your platform?

Through our partnership with Simplex, you can safely purchase Crypto from anywhere with a credit or debit card. Additionally, our kiosks are designed with 24/7 monitoring capability, two-factor SMS authentication, end-to-end encryption, and 99.9% terminal availability/uptime to help prevent break-ins and other fraudulent activity. We're also fully compliant with KYC, BSA, and AML regulations so that your Crypto is secure with each transaction you make.

"Our mission is to provide the most secure, convenient, and fastest cryptocurrency transaction. Our vision is to bring the cryptocurrency market to the masses."

Q. Tell us about the challenges that Bitcoin Depot has encountered. How did you overcome them?

One challenge we have been encountering relates to regulatory environments. We're also tackling the challenges that come with entering the banking sector as they have unique requirements and perspectives we'll need to take into account as we install machines in financial institutions. Additionally, we're a rapidly growing company, and as a result, we've been hiring new talent to keep up with this growth.

Q. How has the pandemic affected the company? How did you innovate during the past year or so?

Within a relatively short period since Covid, Bitcoin Depot brought on an additional 60+ employees, translating to a staggering 200% growth since the start of 2020. Our Founder and CEO, Brandon Mintz, has succeeded in growing his company amid a global pandemic - a feat unlike any other in his lifetime. When countless companies were forced to reduce and eliminate employees or shutter altogether, Bitcoin Depot was scaling up, and quite rapidly too. Mintz is proud to say that he did not make a single furlough or layoff because of Covid. The pandemic has driven a massive audience to begin adopting Crypto and using services like Bitcoin Depot.

Q. How important is your partnership with Simplex?

Without our partners, Bitcoin Depot would not be where it is today. Our collaboration with Simplex was established because they are an industry-leading, licensed financial institution that helps enable a large audience to buy Crypto from us. We also deploy best-in-class and industry-leading solutions so that our customers can count on us for a first-class crypto experience.

Q. What is your vision for the future?

We envision building the next generation of blockchain solutions for our valued customers. We plan to diversify our solutions and scale the organization to meet the needs of our growing customer base.

About the CEO

Brandon Mintz is the Founder, President, and CEO of Bitcoin Depot. He is the epitome of leadership in the crypto space. Since founding the company, he's paved the way for cryptocurrency to make an entry into underbanked communities. His accolades continue to grow in 2021; for one, he has recently announced a 2021 EY Entrepreneur of the Year Finalist. In addition to this, Bitcoin Depot is celebrating its 5-year milestone this month since it was established in 2016. This also comes on the heels of landing on the Georgia Fast 40 Honoree List as well as earning a spot on the Inc. 5000 fastest-growing companies list.

"Bitcoin Depot is the fastest growing multi-cryptocurrency ATM Network offering users the ability to buy and sell Bitcoin, Litecoin, Ethereum, and Bitcoin Cash instantly at hundreds of locations across the United States."

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