Bitcoin ATMs are popping up all over Utah

SALT LAKE CITY — If you’ve used an ATM lately, you may have noticed the option to use cryptocurrency. In addition, there are currently 12 bitcoin ATMs operating in Utah.

Here’s a look at what it means and how they work:

Bitcoin is a form of digital currency that doesn’t require a distributor like a bank, according to CNN Money. However, because of that, the floor value of bitcoin is zero. It does not pay interest and there is no asset value attached to it except what the market gives it because it doesn’t have a central bank supporting it.

There are websites and apps to help people buy, sell and manage their bitcoin, and most people do so by using an exchange website.

In late 2017, bitcoin had a renewed interest when the cryptocurrency quickly became worth more than it had ever been, even reaching up to $20,000 a coin at one point.

Bitcoin ATMs, or BTMs, are machines that allow you to buy and sell cryptocurrency — essentially money transmitting tools. They look and operate very…