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Hello dear blog readers,

**have you already seen Bitcoin ATM's too and maybe even used them?**

In this article I would like to inform you about these cash machines of the future and why they could gradually replace the classic cash machines.

More than 50 years ago, on May 27 1968, the first classic ATM in Germany was put into operation by the Kreissparkasse Tübingen. Even today, the savings banks still have the densest network of ATMs, which are the most popular source of cash in Germany so far. 84 percent of Germans provide themselves with cash at ATMs.

14 percent of bank customers are still going to the bank counter, especially in order to withdraw larger sums of money. The remaining 2 percent use the "Point of Sale" function for cash transactions. Above all is the possibility of cash withdrawal at the cash register of a supermarket. An average of 447 Euros is withdrawn at the bank counter, at the ATM 189 Euros and at the point of sale currently only 87 Euros.

**The dying of branches and the cash abolition will also lead to the death of the ATMs!**

The most ATMs are located in Belgium across the EU with 1,548 pieces per one million inhabitants. Germany is ranked 7th with 1,035 ATMs. In the Scandinavian countries, which are very advanced in terms of basic digitization and the special digitization of money, ATMs have been in sharp decline for years. The smartphone has replaced the ATM here a long time ago. Basically, the trend or the momentum towards ATMs is now stagnating or declining in certain regions.

ATMs continue to reduce, because banks are closing more and more branches with people. For the 50-year history of ATMs, there will certainly not be another 50 years history. The dying of the ATM´s has begun for a long time now with the dying of branches.

The ATM industry is facing a massive change - Diebold Nixdorf is facing the end. Currently, there is a very good example that illustrates these developments impressively.

The ATM manufacturer Diebold Nixdorf is now so badly damaged that the company is for sale. Diebold Nixdorf is the number 2 of ATM manufacturers behind NCR. The existence-threatening situation becomes clear on the share price of the enterprise, which slumped over more than 85 per cent. Cash has no future, so cash machines have no future. Companies like Diebold Nixdorf must therefore fundamentally change. From an ATM manufacturer to a software and service provider.


One possibility would be to concentrate on the production of digital currency machines for example. Cryptocurrency ATM´s are booming in contrast to the classic cash machines. There are already around 3,600 Bitcoin ATMs. Nevertheless, I believe that machines are fundamentally only an intermediate step. Digitization will also replace many vending machines because the functionalities can be easily integrated directly into smartphones.

The banks and ATMs of the future are applications on your smartphone.

The usual services conventional banks and expensive fees are increasingly overshadowed by FinTechs: There are already FinTech providers, which are providing a free credit card that allows you to pay worldwide in over 130 foreign-currencies and cryptocurrencies without fees.


The text above is a free tranwslation of this German article here: https://www.wallstreet-online.de/nachricht/10833161-bargeld-automat-stirbt

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Greetings and hear you in my next article.

Michael Thomale - @michael.thomale

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