Bitcoin ATMs: Why do Detroit gas stations, party stores have them?

ETROIT — Walk into the Shell gas station on the corner of Nine Mile and Greenfield roads in Oak Park, Michigan, 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.

Sourced through Scoop.it from: www.usatoday.com

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