Crypto

Bitcoin ATMs Spread More and More!

Locations that provide crypto ATM services have increased exponentially this year!

Bitcoin ATM
Bitcoin ATM

Bitcoin ATMs have doubled in number since January and nearly 80 countries are now hosting teller machines that exchange cryptocurrencies for paper money.

In the year when the cryptocurrency market hit all-time highs, the availability of digital coins has increased and bitcoin ATMs have made a huge contribution. Their number recently exceeded 30,000 — more than double the number by early 2021.

Data compiled by Coin ATM Radar states that as of January 1, there were 14,016 registered locations that assisted automated teller services for leading cryptocurrencies. And, as of October 27th, their numbers had reached a staggering 30,011.

Bitcoin ATMs & other crypto teller services spread across 76 countries & run by 628 operators, based on tracking websites. The United States is the clear leader with more than 26,000 locations while neighboring Canada has slightly less at 2,000, and the entire European Union hosts only 1,353.

Crypto teller sets have increased against bitcoin-friendly Spain (155) and Switzerland (130) but not all trends are positive. Their numbers have declined against other key markets such as Austria, to this year’s high of 156 against June making it 140 now, and the UK which saw a dramatic decline of 229 on January 1 to 98.

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The cryptocurrencies supported vary at ATMs but usually, they provide the opportunity to buy bitcoin (BTC) and many sell 1 or more other major coins such as bitcoin cash (BCH), ether (ETH), and litecoin (LTC). Some offer stable coins like tether (USDT), / popular altcoins like Dogecoin (DOGE). Two-way teller machines, which include being able to buy cryptocurrencies are increasing in number.

The top 10 operators manage nearly 68% of all crypto ATMs, up to 20,300. Bitcoin Depot, which has expanded its network to the US, remains the largest against them with 5,314 units (17.7%), while Coincloud is in second place with 4,028 (13.4%). Coinflip is in third place with 2,953 devices, / slightly less than 10% of the world total.

Genesis Coin remains the leading BATM producer, controlling over 40% of the market, followed by General Bytes with more than 22%. Bitaccess is in third place with 14% of devices currently operating. Other manufacturers include Coinsource (6.1%), Bitstop (4.2%), Bytefederal (3.5%), & Lamassu (2.3%). Smaller companies have installed 7.2% of all registered teller machines.

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