Bitcoin Depot to list on the Nasdaq in $885 million SPAC deal

Bitcoin Depot expects to list on the Nasdaq under the ticker BTM early next year.

US-based crypto ATM provider Bitcoin Depot will go public in the US by early 2023, according to details the firm shared via a news release.

Bitcoin Depot’s next growth phase comes after it struck a deal estimated at $885 million in equity value with a special purpose acquisition company GSR II Meteora Acquisition Corp. (NASDAQ: GSRM).

Bitcoin Depot Inc. to list on Nasdaq

The company’s deal with the blank check firm will see it listed on the Nasdaq as Bitcoin Depot Inc., trading under the ticker symbol “BTM.”

Brandon Mintz, the CEO and founder of Bitcoin Depot noted that the announcement marks a new milestone for the ATM provider as it looks to help more people access and buy Bitcoin and other cryptocurrencies.

“We are always looking to expand our reach so as many people as possible can access cryptocurrency to control their own money and conduct easier and simpler financial transactions,” he added.

Bitcoin Depot, North America’s largest Bitcoin teller machine operator, was launched in 2016.

The company has expanded over the years to currently count more than 7,000 crypto ATM kiosks across the United States and Canada. Partnerships with some of the leading retailers in the region has helped customers buy Bitcoin at over 8,000 locations.

Users can locate any of the ATM kiosks using the company’s mobile app, which also allows them to seamlessly handle transactions and link these to a crypto wallet.

While the firms expect to have closed the deal by Q1 of 2023, this will depend on regulatory and stockholder approvals.

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An objective review of the Giving Block 2022

The Giving Block is a platform specifically catering to non-profit organizations. It is a solution for charities that makes accepting Bitcoin donations easy. Bitcoin has become very popular among younger users.

The platform’s goal is to educate its customers on the best crypto fundraising strategies and provide them with the tools they need to contact the most dynamically growing donor demographic in the world.

How it works

The user connects with the Giving Block’s expert team, sets up a widget and cryptocurrency donation page, and starts accepting donations. The platform’s widget is unique.

It also features automated tax receipts for donors, access to a client dashboard, support for more than 70 cryptocurrencies, expert support, the option to automatically hold donations or convert them to cash, and details about crypto fundraising strategies.

The Giving Block not only sets users up to accept crypto donations but also helps them raise funds actively. The platform supports neither low-quality cryptos nor unregistered charities and provides support following setup.

At the moment, the Giving Block’s featured fundraising projects are the Ukraine Emergency Response Fund in support of entities giving Ukraine humanitarian aid and Women & Girls Empowerment, which supports NPOs empowering girls and women across the globe. 

Another featured project is LGBTQIA+ Impact, which helps NPOs working with this community.

Other supported projects include environmental organizations, mission-driven organizations, education, well-being, and faith-based organizations. The full list of projects can be viewed at https://thegivingblock.com/donate/.

Key features

The Giving Block makes it possible to accept crypto donations, raise funds, and donate to many charities in different sectors. Major cryptos are donated to schools, charities, and other non-profits.

The Giving Block’s private client services target institutions, high-net-worth individuals, and advisors, making them unique in this area. They help clients develop corporate donation programs via non-profit partnerships and matches.

Donations can be converted to fiat automatically. The donation widget is based on copy and paste, making it very easy to use. Donors get automatic receipts.

Users of the platform can take part in various exciting campaigns, like BitcoinTuesday, and grow a crypto donor audience on social media.

Pros

The Giving Block’s software allows donors to stay anonymous and donate crypto according to their schedule. 

The website layout itself is clean and straightforward. The platform has a comprehensive database of many different non-profits that need donations. 

The site is very user-friendly. You click on the non-profit’s name and get a short but informative description of what it does.

Cons

A user on Capterra complained it was hard to get the details needed for a Gemini bank account. They added that every other element was like the classic web plugin.

Another disadvantage that has been mentioned is the relative unpredictability of the flow of cryptocurrency revenue. Usually, donations are linked to special events. The donation’s equivalent in US dollars is also hard to see when mixed with other funds in a cash transfer.

Why should you sign up with the Giving Block?

If you want to make or receive a donation in crypto, you’ll be glad to know the Giving Block features an easy setup, reliable support, and good fundraising results.

You’ll never be in a situation where you find donations blocked, open up the wrong account, can’t convert to cash, etc. 

The platform is safe, fast, and straightforward. The Giving Block has an experienced, high-quality support team with years of experience helping non-profits and their donors.

The Giving Block holds campaigns to drive more donors to the organizations that sign up with the platform. It also provides them with resources to integrate into their marketing.

What makes the Giving Block unique?

While the Giving Block isn’t the only crypto donation service in the world, it’s probably the best crypto donation solution. 

Its well-devised ecosystem for charities and non-profits to fundraise Bitcoin and altcoins helps them get funds instantly, be found by crypto donors, and even become part of a media network to support their missions.

The bottom line

The Giving Block does a better job than other platforms at integrating and promoting its users. They offer top-grade support and encourage new users to venture into a novel revenue stream. Their advice on page setup and other technicalities is irreplaceable. 

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