The world first saw the introduction of bitcoin ATMs in 2013 when a company called Robocoin placed a machine in a Vancouver coffee shop. Allowing customers to trade bitcoins for cash, and vice versa, the machine saw a $ 10,000 transaction at BTC on its first day.
We are now a month away from the end of 2020, the estimated number of crypto ATMs worldwide that allow customers to buy and sell bitcoin (BTC) and, according to CoinATMRadar, other altcoins for cash are around 11,665 ATMs .
This shows a significant increase in the number of crypto ATMs compared to the previous year. The number of crypto ATMs was estimated at 6372 machines at the end of 2019; Now, as we near farewell to 2020, there has been an increase of about 80%.
CoinATMRadar also shows that the number of crypto ATMs is increasing by an average of 23 machines every day, or about one new ATM per hour.
The United States recorded the fastest spread in the world of crypto ATMs, and it achieved the largest share of crypto ATMs within its territory. The number of crypto ATMs located in the United States increased from 4,213 ATMs in 2019 to 9242 ATMs in 2020, an increase of over 50%. The United States currently accounts for about 79.2% of the total number of crypto ATMs in the world.
There is also an increasing variety of proliferation of crypto ATMs within the United States, with smaller shops, shopping centers, transportation centers, and even one at Tesla Gigafactory.
Canada, out of the top five, is in second place with 880 ATMs; United Kingdom in third place with 268 machines; Hong Kong in fourth with 62 machines; And finally Columbia, which recently showed great interest in setting up crypto ATMs with 59 machines.
For Africa, South Africa captured the continent's lead with 6 machines, but it should be cautious, as Nigeria, the continent's largest economy, has shown increasing interest over the past year.
At the level of companies manufacturing crypto ATMs, Genesis Coin ranks first in the world, with the San Francisco-based company spreading 4000 crypto ATMs worldwide, followed by General Bytes with 3442 ATMs.
The significant increase in the number of crypto ATMs in 2020 reflects rising interest from both retail buyers and financial institutions, including financial insurance PayPal.
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NOVEMBER 07, 2020
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