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Bitcoin ATMs Reach A New Record With 300 New Installments In May

ยท 11 Jun 2019 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.

According to data provided by CoinAtmRadar, there have been 306 new instalments of Bitcoin (BTC) ATMs around the world in May 2019. CoinAtmRadar shows that in May 2019, the net change in the number of ATMs installed for virtual currencies was 228 machines. As the market starts growing once again, the interest in virtual currencies expands as well.

Bitcoin ATMs Expand Around The World

After this increase in the number of machines, there are 4898 Bitcoin ATMs around the world, the highest level ever registered and a very high nett positive growth. The best month for Bitcoin ATMs was April 2018 when there was an increase in the number of ATMs of 256 machines.

Bitcoin has operated very positively during the last few months, which shows that there is a growing interest in digital assets and the whole industry. After Bitcoin reached $9,100, the market fell and now Bitcoin is being traded around $7,950.

According to CoinAtmRadar, almost 70 percent of all the new machines offer support for other tokens besides Bitcoin. Monero (XMR) which registered an increase of 12.3 percent in the number of new ATMs, which represents the highest increase compared to other digital currencies. After Bitcoin, Litecoin (LTC) is the cryptocurrency exchange with the largest support in ATMs around the world, even more than Ether (ETH) that has 2717 ATMs. Litecoin is supported in 3193 ATMs.

According to this website, most of the cryptocurrency ATMs are located in North America, with 73.7% of all the ATMs installed. Europe accounts for 22.4% of the total ATMs while Asia and Latin America have a market share of 2.2% and 1.2% respectively. This shows that the industry is focused in the United States Canada and just two countries in Europe, Austria and the United Kingdom. In Africa, there are just 8 crypto ATMs while in Oceania just 19.

Virtual currency ATMs allow users to have access to the cryptocurrency market in a fast and easy way without having to rely on exchanges and other platforms. Users can purchase Bitcoin and other digital assets through their phones and in these machines installed in restaurants, shopping centres and pubs, among other places.

There are some machines that also allow users to sell their digital currencies and receive fiat in exchange for them. Currently, just 38.3% of the ATMs allow users to sell digital assets.

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