Bitcoin at the ATM. BTC ATM are on the rise as more and more of them are being installed. In the picture a BTC ATM.
The last few months have been marked by increasing fears of inflation, excessive money printing and an intensified discussion about the role of Bitcoin and gold in the midst of the corona crisis.
While investors like Paul Tudor Jones and companies like MicroStrategy have already adopted the so-called „Bitcoin Standard“, there are more and more opportunities for private investors to buy Bitcoin.
The Rise of Bitcoin ATMs in 2020
One yardstick in this regard is the large number of Bitcoin ATMs that have been added this year. According to Coin ATM Radar, there are now over 10,000 such machines that are scattered all over the world and issue BTC or accept cash for the asset.
According to a report, the total number of Bitcoin ATMs reached 9,680 at the beginning of September, a jump of 167% compared to the previous year. In December 2017 there were only 1,932 such Crypto ATMs worldwide. That number rose to over 4,009 by 2018, a jump of 107%. The growth continued in 2019, reaching 5,795 in December last year, the report said.
Nothing beats the impressive 2020 numbers, however. In the first nine months of 2020, over 3,885 new Bitcoin ATMs were officially launched and put into operation, an increase of 167%.
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Most of the ATMs are in the United States
Unsurprisingly, bitcoin ATM reinstallations have been higher in developed economies such as the United States, Canada, and the United Kingdom. However, developing countries and regions with volatile currencies, such as Venezuela, are also seeing an increase in the number of ATMs installed as citizens there lose their trust in their fiat currencies. The report also writes:
When analyzed geographically, the United States is the leading crypto ATM market with 78% of all Bitcoin ATMs worldwide.
The report also found that the number of Bitcoin ATMs operating in the United States has increased significantly over the past year. In September 2019, US citizens could still use 3,332 Crypto ATMs across the country.
According to statistics, the number of Bitcoin ATMs in the United States stood at 7,567 in September 2020, an increase of 127% in one year.
Bitcoin ATMs statistics
Canada is the second largest BTM market in the world with 869 Bitcoin ATMs (as of September). The United Kingdom, Austria, Spain and Switzerland follow with 278, 150, 106 and 81 BTMs, respectively.
In the meantime, Genesis Coin has risen to become the world’s leading manufacturer of Bitcoin ATMs, with a market share of 35% and 3,406 ATMs operated worldwide (as of September). In second place was General Bytes with a market share of 29% and 2,893 ATMs.