Bitcoin Depot

Converts cash to Bitcoin via kiosks

Atlanta, Georgia, United States

About Bitcoin Depot

Bitcoin Depot specializes in converting cash into Bitcoin, making it easier for cash users to access the digital financial ecosystem. The company operates over 7,000 Bitcoin kiosks and ATMs across the United States and Canada, allowing users to quickly and securely exchange cash for Bitcoin. Additionally, Bitcoin Depot offers the BDCheckout service, enabling customers to fund their Bitcoin wallets at checkout counters in over 6,000 retail locations. For online transactions, users can buy Bitcoin using debit or credit cards through a partnership with Simplex. Bitcoin Depot differentiates itself from competitors by focusing on cash users, including those without easy access to traditional banking services, and providing multiple convenient channels for cash conversion. The company's goal is to bridge the gap between cash and digital currency, making Bitcoin accessible to a diverse clientele.

Atlanta, GeorgiaHeadquarters
2016Year Founded
IPOCompany Stage
Fintech, Crypto & Web3Industries
51-200Employees

Benefits

Health benefits + employer contribution
Premium coffee & gourmet teas
Weekly catered lunch
Monthly company outings & celebrations
Quarterly philanthropy activity
Company paid fitness pass
401k matching

Risks

Increased competition from other cryptocurrency ATM providers may erode market share.
Regulatory scrutiny on cryptocurrency transactions could impact operations in North America.
Volatility of cryptocurrency prices poses a risk to Bitcoin Depot's revenue model.

Differentiation

Bitcoin Depot operates the largest cryptocurrency ATM network in North America.
The company offers multiple channels for cash-to-Bitcoin conversion, including ATMs and BDCheckout.
Bitcoin Depot's partnership with Simplex allows online Bitcoin purchases via debit or credit card.

Upsides

Expansion into Australia with 125 ATMs opens new international growth opportunities.
Partnerships with retail chains enhance ATM accessibility and user convenience.
Growing interest in Bitcoin as an inflation hedge could drive more users to services.

Funding

Total raised$316
StageIPO
$316