The number of Crypto ATMs grew by 80% this year and according to the reports, there’s now one machine installed per hour as we are reading more in our latest crypto news.
Startups have taken note of the growing interest in crypto and started seizing the opportunity to position themselves in the market and Crypto ATM manufacturers which are expanding more than ever. According to the figures from Coin ATM Radar, so far this year, the number of crypto ATMs grew by 80% which is 3 times the amount reported at the start of 2019. The world started 2020 with 6372 crypto ATMs and at the time of writing, there are now 11665 ATMs deployed all over the globe and the number is growing.
ATMs are expanding like crazy and estimates from Coin AMT Radar calculate the one new ATM is put into operation every hour. The United States leads the way with the numbers as the industry growth in the sector is exponential compared to Europe. In 2020, Americans went from having 4213 ATMs to 9242 ATMs in locations that range from small shopping malls to the Tesla factory. The country has 79.2% of all BTC ATMs in the world right after Canada with 880 ATMs or 7.5% of the world total. The United Kingdom is the European country with more ATMs while Hong Kong has about 62 Bitcoin ATMs. Colombia wins in Latin America with 40 ATMs while South Africa leads with 6.
Genesis Coin is the leading startup in the industry with the San Francisco company deploying 4189 ATMs across the world. the second and third places go to General Bytes with 3442 ATMs and BitAccess with 1136. Another sector which is showing signs of healthy growth of the number of crypto ATMs is trading. According to the data from Useful Tulips shows that the activity is recovering after the horrible consequences from the March Crash. North America, Latin America, and Africa recorded spikes in activity and breaking the yearly records.
As the number of crypto ATMs grew by 80%, it only shows that the adoption of cryptocurrencies is growing each day. new products and services emerge every day and they strengthen the ecosystem and its exposure to the new type of technology. and not only ATM companies noticed this. This phenomenon crossed the minds of strategists from companies like Microstrategy, PayPal, Grayscale, and Square who invested in the acquisition of this type of asset but also lowered the entry barriers.
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