Cryptocurrency adoption increased from the past few years, now a days more people are owing crypto than before, As cryptocurrency adoption moves closer to acceptance, users in the crypto space are implementing systems (ATMs) to help facilitate the transaction. ATMs machines offer users a options to buy and exchange cryptocurrencies with fiat money.
The number of cryptocurrency ATMs around the world has grown exponentially in the past few years. From the last December more than 20,000 new Bitcoin ATMs have been installed as so far. That’s more than the total of all crypto ATMs machines put into operation in the previous 7 years.
According to Coin ATM Radar, There are more than 34,000 ATMs machines till the end of 2021. As of January 1, 2021, there were 14,040 Bitcoin ATMs in operation; as of Friday, December 31, 2021, there are 34,050 ATMs in action, representing an increase of 20,010 ATMs.
According to the growth chart, Bitcoin ATMs were fewer than 13,000 in December 2020 — that’s all ATM locations registered since October 2013 — while 12 months later they exceed 3 34,050. Around 30,000 of all Bitcoin ATMs, (approx 90%) are running in the U.S. Its northern neighbor, Canada, is a distant second with a little over 2,200 machines.
El Salvador, is already among the leaders with its 205 machines, overtaking European countries such as Spain, which has less than 200, and Austria with its 142. As of December. 29, the whole of Europe has only 1,385 cryptocurrency ATMs, lagging behind key markets in North America.
The many companies now manufacture ATM machines, top player are are Genesis Coin with almost 14,000 devices, General Bytes with more than 7,500, and Bitaccess with close to 5,000. Coinsource and Bitstop, with less than 2,000 each.
At least 6,000 businesses maintain crypto ATMs in different parts of the world, with the 10 largest operators running 70% of them all. The largest companies in the sector are Bitcoin Depot, which holds a fifth of the market with over 6,600 machines, followed by Coincloud (over 4,600), and Coinflip (almost 3,500).
Crypto ATMs support various cryptocurrencies and are either one-way or two-way devices. The latter offers users the ability not only to buy, but also to sell their digital coins. Most Bitcoin ATMs provide an opportunity to purchase Bitcoin (BTC), and many offer other major coins such as Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).
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