Over 39,000 Bitcoin ATMs worldwide. Despite the bad economic situation, the crypto ecosystem continues to develop. For example, there are always more Bitcoin ATMs around the world. But what is a Bitcoin ATM? How many Bitcoin ATMs are installed in the world?
What is a Bitcoin ATM?
The Bitcoin ATM (or ATM) allows you to buy Bitcoin. Its operation does not differ much from a conventional coin dispenser, except for two differences.
First of all, as mentioned above, a crypto ATM allows you to buy cryptos and not fiat money. Then, your crypto wallet acts as a bank account. Indeed, the cryptos purchased are automatically transferred to your crypto wallet.
On a crypto ATM, you can buy cryptos directly with your bank card. Your money is then immediately converted into the crypto of your choice according to the current rate.
Fees also apply. At some ATMs, you can even buy cryptos with cash. Some distributors allow you to buy only Bitcoin, others offer you several cryptocurrencies.
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Bitcoin distributors around the world
ATMs, therefore, represent a quick and easy way to buy cryptos. Also, their location plays an important role in structuring the crypto ecosystem. However, it is interesting to note that the number of crypto distributors in the world is increasing.
The coinatmradar site allows you to regularly monitor the number of crypto distributors in the world. So, according to this site, at the time of writing this article, there are 39,012 ATMs in the world.
Of these 39,012 ATMs, more than 33,000 distributors offer cryptos other than Bitcoin. The Litecoin (LTC) crypto is the most offered by ATMs after Bitcoin. Then come the cryptos Ethereum (ETH), Dogecoin(DOGE), and Bitcoin Cash (BCH).
The speed of installing Bitcoin ATMs around the world has been increasing sharply since the crypto boom of 2020. For example, as of January 1, 2020, there were 6,364 crypto ATMs in the world.
A year later, that number had more than doubled to 14,051 Bitcoin ATMs. As of January 1, 2022, this number has risen to 34,388! Moreover, the site coinatmradar sets up an interesting indicator on this subject.
It is simply an installation speed indicator of crypto distributors in the world! The speed parameter is calculated based on the previous 7 days.
At the time of writing this article, the speed is 10.6 ATMs installed per day! At this rate, this means that the 40,000 ATM mark will be exceeded in less than three months, i.e. by November 2022!
The global distribution of crypto ATMs
To be precise, there are 39,012 crypto ATMs spread across 77 countries. The 10 countries in the world that have the most crypto distributors on their territory are the following:
United States: 34,722;
Canada: 2,555;
Spain: 257;
El Salvador: 212;
Poland: 192;
Hong Kong: 154;
Switzerland: 150;
Austria: 137;
Romania: 143;
Italy: 81.
This top 10 is interesting to analyze and confirms that the United States and Canada have taken the crypto turn. In fact, they alone represent more than 95% of the ATMs established in the world! El Salvador, meanwhile, ranks 4th. Surprising?
Not so much when we remember that the country has formalized Bitcoin as its legal tender since September 2021. The surprise comes more from seeing very conservative European countries like Spain or Italy being part of the top 10.
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