Bitcoin ATM Numbers Are On The Rise In Colombia: Report

Bitcoin ATM Numbers are on the rise in Colombia as the country is relatively new to crypto adoption but it is building up the momentum quite fast. In today’s Bitcoin news, we will be reading more about the reports.

Colombia now has the largest number of Bitcoin ATMs in Latin America according to CoinATMRadar. Bogota, the capital of Colombia has 34 ATMs followed by Medellin with 11, and Bucaramanga and Cali with 4 Bitcoin ATM each. Other cities with at least one ATM machine include Armenia, Barranquilla, Cucuta, Cartagena, La Hormiga, and Pereira.

The countries like Venezuela and Argentina were frequently discussed as crypto hotspots in terms of regional adoption because of the political factors and economic turmoil. Colombia took many important steps towards regulating the nation’s crypto sphere but the government approved a pilot program to test the crypto transactions back in September. The pilot program now operates in a recently instituted regulatory sandbox and will run until December 31.

In September, the Colombian Ministry of Information Technology and Communications released a new draft of a guide calling for the public sector to start adopting blockchain technology like crypto payments.
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The figures for the Bitcoin ATM numbers released by August show that the crypto adoption reached double digits in Colombia, Brazil, Mexico, Chile, and Argentina.

The previous reports showed that Bitcoin ATM number increased by 87% in 2019 and surpassed 10,000 across the world as more and more people turn to crypto. 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 number of new Bitcoin ATMs has been growing and now, we can see that a lot of new BTC cash machines have been rolled out all around the globe. What is also impressive in the crypto news is that while there are many new Bitcoin ATMs, more than 6,000 of the existing Bitcoin cash machines are located in the United States. Depending on the specific ATM, crypto holders can purchase and withdraw cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Zcash (ZEC), Monero (XMR), Litecoin (LTC), Dogecoin (DOGE), Tether (USDT) as well as Ripple’s XRP token.