Bitcoin and other crypto ATMs have seen huge growth since the beginning of 2021, recording +265% in new installations in just 6 months.
According to Coin ATM Radar, crypto ATMs worldwide have grown from 6,373 at the beginning of the year to a total of 23,248 at the end of June 2021. Staggering figures when considering that in the same six months, bitcoin saw its price soar to over $60,000 and back up to $30,000.
And indeed, with the frenzy in crypto trading after a year of pandemic, many thought that Bitcoin ATMs were a solution: a way to bring more people into the crypto world.
It is no coincidence that by April 2021, the number of bitcoin ATMs installed worldwide was already at 17,827 and that experts in the field were predicting an expansion of over 20,000 by June 2021.
Of course, these numbers do not involve the scams associated with crypto ATMs. Such as the recent case in the US, where two women lost a total of $15,000 after receiving a phone call from a pseudo-public safety officer in the city who manipulated them.
Bitcoin ATMs around the world: the data from the report
The boom in mass crypto adoption continues to spread like wildfire. Leading the way is the US, which is home to 85% of Bitcoin ATMs and other crypto assets worldwide. Specifically, there are 20,000 bitcoin ATMs in the US.
Coming next in their worldwide distribution is Canada in second place with around 1,532 and, in third, the UK with 157 installed machines.
The largest producers of Bitcoin ATMs worldwide include the following names:
- Genesis Coin with 40.3% of installed bitcoin ATMs;
- General Bytes with 24.3% of installed crypto ATMs;
- BitAccess with 11.6% of installed crypto ATMs;
Among the top bitcoin ATM crypto operators, the report shows Bitcoin Depot, CoinCloud and Coin Flip on the podium, with 3393, 2537 and 2415 machines installed respectively.
If, on the other hand, we are talking about the crypto assets that are most commonly bought or sold through bitcoin ATMs around the world, then to date, the report puts Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH) in the top three, followed by Bitcoin Cash, Dogecoin and Dash.
New free Bitcoin ATM installations also in El Salvador
The expansion of crypto ATMs does not seem to end here! Indeed, recently another crypto ATM operator Athena Bitcoin, revealed its intention to install 1500 free bitcoin ATMs in El Salvador, the new country that legally approves cryptocurrencies.
The aim is to offer a cash-to-crypto business to engage citizens in adopting BTC and other altcoins.
In this regard, the company’s director for Latin America, Matias Goldenhörn, said:
“El Salvador’s President, Nayib Bukele, presented us with a tough challenge of 1,500 ATMs, we will go for that, but in phases. We are a private company and we want to ensure that our development in the country is sustainable”.
At the end of last month, Bukele had made it official that, in El Salvador, bitcoin will become legal tender in the country from 7 September.
The post Bitcoin ATMs: trend grows 265% since early 2021 appeared first on The Cryptonomist.
