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Cryptocurrency ATMs expand in New Jersey

February 27, 2018

Cryptocurrency ATMs continue to expand in New Jersey, according to hudsonreporter.com.

North Bergen, New Jersey, now has its first cryptocurrency ATM, which enables people to exchange U.S. currency for bitcoin, Litecoin and Ethereum. The machine is located next to the counter in the Delta Food Mart convenience store on JFK Blvd. and 91st Street. The machine is operated by Belco BTM, which has also installed the machines in Jersey City, West New York, Bayonne and Union City and operates eight such machines in the state.

Users must first download an app so that their phone has a cryptocurrency wallet. They then enter their phone number, and the machine sends an SMS code. The user then enters the code, and the machine asks for their wallet address. The user then enters how much cash they want transferred. The machine shows how much their money is worth in cryptocurrency at that time.

In 2014, Jersey City's Helen's Pizza began accepting bitcoin payments. AdRite Solutions, a digital marketing firm in West New York and Secaucus, has also started accepting bitcoin.