Bitcoin ATM Number Increased By 87% In 2019: Report

Bitcoin ATM number increased by 87% in 2019 and surpassed 10,000 across the world as more and more people turn to crypto. In our latest Bitcoin news, we are reading further on the reports.

According to the Norwegian financial services company AksejBloggen, the Bitcoin ATM number increased by 87% in the past year from the previous 5336 recorded in September 2019. This year alone, there are more than 3900 new ATMs added. Monitoring platform CoinATMRadar shows that there are now more than 10,014 ATMs in 71 countries that allow users to buy and sell Bitcoin and other altcoins for cash. The AksjeBloggen report shows:

 “2020 has witnessed a surge in the number of ATMs supporting digital coins.3,885 new BTMs [opened] worldwide between January and September, a 67% increase in nine months.”

Right now, the United States leads the market in the world by a major margin with more than 7800 Bitcoin ATM machines. Canada comes in second with more than 869 machines. Depending on the machines, crypto holders can now buy and withdraw major cryptocurrencies such as Ethereum’s ETH, Bitcoin Cash, Dash, Litecoin, Monero, Zcash, Tether, Ripple’s XRP, DOGE, and many more.

However, adoption is not going smoothly everywhere. CoinATMRadar shows that Austria is one of the few European countries that experienced negative installation growth since last year. The country has about 149 Bitcoin ATM machines which is a decline from the previous 244 in September 2019. The decrease could be related to the regulatory climate as new regulations in the next-door country –Germany, are not so preferable with the country now having just 27 Bitcoin ATM machines. Machine owners are required to obtain a license from the financial regulator of the country BaFin, in order to operate. German businesses could be held liable for unlicensed Bitcoin ATMs on their property despite who owns them.

The German Financial regulator came down on illegal Bitcoin ATMs that were operating in the country without having a license. According to the reports, the German Federal Financial Supervisory Authority which targeted operators of BTC ATMs that were working in the country illegally. Only the BTC machines with a BaFin license according to the German Banking Act can operate in Germany. The report revealed that the operator of BTC ATMs under the name Shitcoins Club came under the spotlight as the BaFin ordered Adam Gramowski who is the manager of the ATM to stop all operations in Germany.