If you are seeing lines in front of an Ethereum ATM in Memphis, TN, you may wonder what all the fuss is about. Ethereum, like Bitcoin, is a cryptocurrency. Cryptocurrencies are growing in popularity around the world for a number of reasons. One reason is scarcity.
If Bitcoin is the gold standard for cryptocurrencies, Ethereum would be like silver. The nice thing about cryptocurrencies is that there is a finite amount of them available. Once these coins have been distributed, no more will be produced.
For example, the creator of Bitcoin set a limit of 21 million coins that will ever be produced. This is an immutable fact. The world population sits at a little more than seven billion. If every person on the planet received an equal distribution of Bitcoin, they would only get 0.0023 Bitcoin.
Some would argue that gold is also a finite resource. And that is true. At some point, there is going to be no more gold to discover. But there is no way to say for sure how much gold is left to be discovered. Mankind can be at the halfway point or have just scratched the surface. If a large amount of gold is discovered, the value of gold is going to plummet.
When you buy Ethereum from an Ethereum ATM in Memphis, TN, you are getting a scarce resource that has a set limit until it runs out.
Check out the work that RockItCoin Bitcoin ATM is doing to distribute cryptocurrencies by visiting their website.