Sonny Meraban’s Secret is out; Bitcoin is Here to Stay and its Future is Hotter Than Ever

As early as 2014, real estate investor Sonny Meraban from Chicagoland had revealed a secret about which very few people across the country knew very little at the time. The only difference from this secret, however, was that Meraban couldn’t wait to share it with the world and watch it spread like wildfire across the country.

About seven years ago, Meraban was among the first American investors and true believers in Bitcoin, the cryptocurrency that has steadily gained social and financial acceptance in recent years and has begun to transform investment markets around the world.

Meraban’s so-called “secret” was that Bitcoin is very real, has great staying power and could be the future of the currency around the world. Now Meraban’s belief in Bitcoin is paying off long ago, and his company, Bitcoin of America, is rapidly expanding its influence nationwide.

“Listen, even a broken watch is right twice a day, right? I was like a broken watch back then because I was right, but nobody really got it, ”said Meraban, CEO of Bitcoin of America, modestly. “Our broken clock has finally struck and it turns out I was right about Bitcoin all along.”

Meraban was so right that the aptly named Bitcoin of America is quickly approaching 1,000 locations across the country. Meraban’s initial investment – spending $ 7,000 on a single Bitcoin ATM he placed in a Chicago liquor store and one that made “crazy numbers” – has grown to the point that his company is now in 30 states and the District of Columbia have bitcoin ATMs and bitcoin tablet trading options. After expanding across the Midwest – for example, there are 25 locations in Chicago and 30 in Detroit – Bitcoin of America now covers the east and west coasts.

Meraban’s explosive growth is in line with the growing trend that Americans are increasingly demanding the ability to invest in Bitcoin and use it as a currency. While there were only a few hundred Bitcoin ATMs in 2014, there are now more than 28,000, according to Meraban only sees the explosive growth of its company as the tip of the iceberg as what is to come in the next few years.

“In the regular ATM industry, there are 300,000 regular ATMs versus only (28,000) Bitcoin ATMs. The room for growth there is pretty big, ”said Meraban, whose company recently donated $ 25,000 to Jambos to help children in the Illinois care system. “We were just lucky that we fell into the right time zone. My goal has always been to be an easy, safe and secure exchanger for customers to exchange their money for cryptocurrency. This approach has allowed us to be successful and keep growing and growing. ”

Bitcoin has become a popular investment and exchange option for Americans who do not do regular business with banks or who do not have access to traditional banking. The FDIC estimates that around 25% of Americans do not keep their money in a bank and regularly use options such as payday loans, check cashing offices, and money order services. Bitcoin’s popularity and acceptance is so widespread that companies like Microsoft, Expedia, and the Cash App mobile payment service are now accepting it for financial transactions.

Bitcoin of America, of which Meraban is proud, is registered with the US Treasury Department and is fully BSA / AML compliant that many of their 200,000 customers are of the repeat variety over the years. Bitcoin of America’s easy-to-use mobile app has a wallet feature that allows investors to securely store their investments. Soon, Meraban and BOA hope that users will be able to buy, trade and invest bitcoin entirely over the phone, making them a bitcoin ATM “in the palm of your hand”.

In addition to its rapid expansion across the country making it easier for customers to invest and exchange in Bitcoin, Bitcoin of America recently introduced a tablet format that allows customers to complete their transactions in person and in person.

Bitcoin of America is one of only two merchants nationally to offer a tablet format for transactions. The tablet format allows customers who may not be familiar with the process of investing bitcoin to discuss their purchase options with a cashier to ensure their transaction goes as planned. So far, this option has received rave reviews from users who are relatively new to Bitcoin investing.

Meraban joked that the ever-changing technologies surrounding the Bitcoin industry are so active that “there is something new every day when you wake up.” Now that Bitcoin’s popularity is hotter than ever and gaining acceptance, Meraban joked that the secret about America’s top cryptocurrency is out and will hold up for the long term. What will come with the future of Bitcoin may surprise some doubters, but it certainly won’t surprise Meraban, one of the original believers in cryptocurrency from years ago.

“I think people will break away from the central banking system at some point,” Meraban boldly predicted. “Why are Bitcoin prices rising? Why is the medal rising? Why are wood prices rising? It’s because people are investing in them.

“People used to buy Bitcoin to make payments with phone bills owed, or to allow them to go to a website and play poker,” added Meraban. “That is changing and you have sophisticated investors studying Bitcoin and investing in Bitcoin. You understand that there is a $ 2 trillion market cap and how on earth are you not going to buy into and invest in bitcoin when there is such a large market cap? It’s almost like investors have no choice but to hedge against the dollar. ”

Published on April 10, 2021

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