Paramount launches cryptocurrency initiative, rolls out 45 Crypto ATMs in Chicago and Virginia

LANCASTER, PA (March 25, 2019) — Paramount Management Group is pleased to announce the company’s official launch of its cryptocurrency initiative, in partnership with Bitcoin Depot, and initial roll out of 45 new locations in Chicago and Virginia.

While cryptocurrency is still confusing to many people, buying and selling crypto at the ATM has rapidly caught on with enthusiasts and is the number one alternative to exchanges, according to a recent article in Cryptoonline News.

“Paramount believes that as a market leader we must always stay in tune with changes in the market, understand trends in consumer behavior ‒ and make investments in new technologies and emerging markets accordingly,” said Jorge Fernandez, Chief Development and Marketing Officer at Paramount. “Offering cryptocurrency through the self-service channel was the next logical step in our strategy of providing leading customer engagement solutions.”

“We have closely followed the cryptocurrency market and the opportunities that blockchain solutions represent for some time, and we patiently waited for a certain level of stability, and for the emergence of credible and reputable players before investing,” Fernandez continues. “Bitcoin Depot was a very early adaptor of cryptocurrency vending and have proven themselves to be reputable and reliable partners.”

While the cryptocurrency market is similar to the traditional ATM business, it does, however, bring with it its own uniqueness. We believed that forming a partnership with a credible organization with ample experience in the cryptocurrency market would represent the best approach for us, notes Fernandez.

With the Paramount Cryptocurrency Initiative, consumers visiting the new ATM-like kiosks are able to buy and sell four different types of cryptocurrencies: Bitcoin, Litecoin, Ethereum and Bitcoin Cash. Benefits to consumers include convenience with most ATMs available 24/7, accounts can be created and verified in less than a minute, unlike other options, and the cryptocurrencies are available on the consumer’s mobile wallet instantly.

“We are very excited to partner with Paramount and look forward to mutually growing the opportunities available in the crypto-currency market,” says Brandon Mintz, CEO at Bitcoin Depot. “Coming from the ATM business, Paramount brings a unique understanding of managing large retail deployments and a vast network of merchants. This, coupled with their willingness to invest and further grow this business makes Paramount a perfect partner for us.”

Both companies believe in the potential of the cryptocurrency industry and are in the process of evaluating additional markets for further expansion.