With the US economy experiencing a crunch of coins, one of the banks in the US, the Community State Bank of Milwaukee, is offering a 5% bonus to the customers who deliver coins to one of their locations, in light of the scarcity.
The Assistant Vice President, Retail Operations Director, Katie Stolp, adds,
To ease out the transaction process, the consumers and non-consumers will not be charged for any coin-counting related transactions.
The prime reason behind the shortage of coins shed some light on the recent COVID-19 pandemic. US consumers have been seen avoiding cash transactions and keeping it to the minimum. Besides, there are currently 18.44M BTC available in circulation. This hints at introducing a smaller unit if the Satoshi units were to become more valuable in recent times. However, Bitcoin is not likely to see the shortage shortly as the US Mint is forecasted to yield 19.8B coins by the end of this year.
