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Bitcoin ATM Adoption Continues To Expand: 500% In 3 Years

ยท in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

The number of Bitcoin (BTC) and crypto ATMs has been expanding around the world during the last years. These ATMs allow users to have access to the cryptocurrency market without using an online platform. 

According to data provided by Coin ATM Radar, the number of Bitcoin ATMs expanded from 964 machines in 2017 to 5593 on September 21st 2019. This represents an increase of 480% in less than three years. 

Bitcoin ATMs Expand Around The World

During the last years, the cryptocurrency market has been expanding in many countries. Through Bitcoin and crypto ATMs, it is possible for users to buy, and in many cases, sell digital currencies. 

According to data provided by Coin ATM Radar, there has been only one month with a negative change in the number of ATMs installed. Between October and November 2015, there have been 11 ATMs uninstalled.

However, every single month since January 2014 has experienced a growth in the number of ATMs installed. The first half of 2018, after the bull market experienced by Bitcoin (BTC) and other digital assets, saw the largest instalments of ATMs in the world. 

July of 2019 was the month with the largest instalments. 302 new ATMs have been placed in important shopping centres, shops and stores around the world. As of September 21st, 108 new ATMs have been installed. If no other machine is installed this month, this would be the worst performance since February this year. 

Coin ATM Radar shows the United States and Canada account for almost 74.4% of all the Bitcoin and crypto ATMs in the world. This is followed by Europe with 21.5%, Asia with 2.4%, South America with 1.1%, Oceania with 0.5% and Africa with 0.2%. 

The United States has 3681 crypto ATMs installed, followed by Canada with 708, the United Kingdom with 274, Austria with 251, Spain with 93, Switzerland with 74, the Czech Republic with 69, the Russian Federation with 59 and Colombia with 54. 

Of the total number of ATMs installed around the world 99.95% support Bitcoin. The second most accepted digital asset is Litecoin (LTC), with 67.26% of the total number of ATMs in the world. Ethereum (ETH) is accepted in 60.68% of the ATMs and Bitcoin Cash (BCH) in almost 40%. 

Finally, 38.1% of the crypto ATMs have buy and sell options, while 61.8% only support buying. 

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