Bitcoin ATMs have always been an exciting way to get more people acquainted with cryptocurrencies. They streamline the process of buying – and sometimes even selling – crypto in exchange for cash. With over 24,000 ATMs worldwide, the industry continues to grow and evolve.
Nearly 25,000 Bitcoin ATMs Globally
The Bitcoin ATM industry has come a very long way over the past decade. In the early days, very few people saw merit in buying cryptocurrency from a machine that looks like a bank ATM. After all, these new machines have to be installed in physical locations, which is not something one can do without permission or even a license. Not everyone is cut out to make a significant investment for such a machine and then spend more on finding a location and license in the hopes of making it profitable.
Despite those odds, we are now looking at an industry spanning over 24,000 different Bitcoin ATMs across 75 countries. But, of course, it is far from global coverage, and certain regions have many more Bitcoin teller machines than others. That is all par for the course, as the industry continues to grow and evolve every month. More progress is made in a month now than in a year a few years back. Growth is accelerating, and access to Bitcoin becomes more outspoken.
What is even more remarkable is the number of producers. Today, there are 42 producers of Bitcoin ATMs, which may come as a big surprise. There is a lot of competition, even though some producers are not in operation as of yet. However, it is good to see Covault, BitXChange, Walledo ATM, BitTeller, and Astra Pay come to market. Competition is healthy, as it creates more opportunities for future operators to find a Bitcoin ATM they like and bring cryptocurrency access to a broader audience.
With 618 different known operators worldwide, there is still plenty of room to get in on the action. It will come down to finding a location – or multiple locations – to place Bitcoin ATMs in one’s region. A gas station, arcade hall, community center, and similar venues are all possibilities to explore. Some profit-sharing schemes may need to be worked out, though, and a place that is accessible 24/7 is preferable.
Popular Locations And Altcoin Support
Not too many people will be surprised to learn that most Bitcoin ATMs are in the United States. of the over 24,000, 21,214 of them are in the US. Of course, it is a very skewed balance of power, but the US is a primary region for cryptocurrency activity these days. Canada comes in second with 1,707 machines, and the UK completes the top three with 174 ATMs.
Over the years, Bitcoin ATMs have made an appearance in some countries one wouldn’t necessarily expect. The four machines in Lebanon have flown under the radar for the most part. Anguilla has two locations with a Bitcoin ATM, whereas Japan only has one. Even Djibouti and Saint Kitts and Nevis have a Bitcoin teller machine these days. Very exciting stuff, although there is more work to be done.
Even though the machines are classified as Bitcoin ATMs, a fair few of them support alternative currencies. For example, Ethereum is supported by roughly half of the ATMs, yet Litecoin has a higher support rate. Bitcoin Cash and Dash can also be bought at certain locations, indicating there is potential for altcoins to help push cryptocurrency adoption to new heights.