Home Cryptocurrency The number of installed Bitcoin ATMs more than doubled in 2021

The number of installed Bitcoin ATMs more than doubled in 2021

by Serge Shlykov

The number of bitcoin ATMs around the world is growing. The total number of installed Bitcoin ATM’s in 2021 was projected to be almost 12,000 by the end of 2019. There are currently over 7300 available online as well as a growing list at brick-and-mortar locations

The “how do bitcoin atms work” is a question that has been asked many times. The number of installed Bitcoin ATMs more than doubled in 2021.

According to Coin ATM Radar, which keeps track of all the places where crypto may be purchased and/or sold for cash, more than 20,000 new Bitcoin ATMs have been built throughout the globe since the beginning of 2021.

By the end of 2020, there were 12,869 Bitcoin ATMs placed throughout the world, and by the end of the year, there were 34,013 operating machines.

Distributions around the globe

The figure from Coin ATM Radar shows an exponential increase in the number of machines deployed over time.

The number of installed Bitcoin ATMs more than doubled in 2021Installations of cryptocurrency ATMs are increasing.

Despite the fact that they may be found in nearly every country, their distribution remains concentrated, with around 95 percent of operating machines in North America.

With 29.990 units, the United States accounts for nearly 88 percent of the total, followed by Canada, which has just over 2,229 devices.

With 205 ATMs, El Salvador is in third position, followed by Spain and Austria, with 197 and 142 ATMs, respectively.

Various cryptocurrencies are supported via ATMs, with Bitcoin, Ethereum, and Litecoin being the most common.

The number of installed Bitcoin ATMs more than doubled in 2021

From cash to cryptocurrency

Genesis Coin is by far the most popular manufacturer in the industry, with over 14,000 units installed.

Over 40% of all ATMs were built by a business situated in San Diego, California.

General Bytes of the Czech Republic comes in second with 7,561 (22.2%) ATMs installed, while BitAccess of Canada comes in third with 4,876 (14.3%) ATMs.

The number of installed Bitcoin ATMs more than doubled in 2021

With over 600 operators throughout the globe, the top ten corporations control 70% of the market.

The major participants in the market are American firms: Bitcoin Depot, which runs over 20% of all ATMs, is followed by Coin Cloud and CoinFlip, who operate 14% and 10% of all ATMs, respectively.

The bulk of the operating PCs (77 percent) support the ‘purchase only’ option, indicating that this year’s spike in installs represents a greater interest in investing in crypto than anything else.

The number of installed Bitcoin ATMs more than doubled in 2021

“I believe the value of cash in crypto is undervalued in today’s mainstream media, and we give a basic level of being able to accelerate your bucks.” “You can take your US dollar and turn it into a digital currency and get a million more use cases and value out of it,” Chris McAlary, the CEO of Coin Cloud, recently explained on Anthony Pompliano’s The Best Business Show, explaining how ATMs are allowing unbanked people to interact with the global economy.

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The number of installed Bitcoin ATMs more than doubled in 2021

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