A new crypto ATM is set up worldwide every hour.
The first Bitcoin ATM saw the light of day in 2013 when a company called Robocoin set it up in a coffee shop in Vancouver, Canada. Customers could use the device to buy Bitcoin Rush for cash and vice versa. The machine was extremely popular from the start, with US $ 10,000 being transferred into BTC on the first day alone .
At the end of 2020, the number of crypto ATMs that allow users to buy and sell Bitcoin (BTC) and other cryptocurrencies has now risen to 11,665, as data from CoinATMRadar shows
Compared to last year, the number of “crypto ATMs” has increased significantly, because at the end of 2019 there were only 6,372 machines. A year later, the growth in new devices is almost 80%.
In addition, CoinATMRadar shows that an average of 23 new crypto ATMs are added per day, which is just under one new machine per hour.
The USA is a pioneer in setting up new machines and is thus securing the largest proportion of crypto ATMs in its national borders. In the United States, the increase in the past year is also clear, because while there were still 4,213 crypto ATMs in 2019, there are already 9,242 crypto ATMs in 2020. This corresponds to an increase of more than 50%. The USA accordingly has a total of 79.2% of all crypto ATMs in the world.
There is also increasing diversity in the locations of the crypto ATMs in the USA. These can be found in small shops, shopping centers, train stations and even in a Tesla Gigafactory
Among the top 5 in the country ranking, Canada is in second place with 880 crypto ATMs, while Great Britain is in third place with 268 devices. Hong Kong secured fourth place with only 62 machines and the growing interest in the machines in Colombia gave the South American country fifth place.
In Africa, South Africa occupies the top position with 6 devices, but cryptocurrencies are gaining a foothold in Nigeria, the largest economy on the continent , which could mean that a change in leadership could soon be imminent.
Among the companies that manufacture crypto ATMs, Genesis Coin is the market leader, the San Francisco-based company has installed 4,000 ATMs around the world. General Bytes comes in second with 3,442 machines.
The rapidly increasing number of crypto ATMs in 2020 is further proof that both private and institutional investors are increasingly enjoying cryptocurrencies, including the large payment service provider PayPal .