Over 3,000 Bitcoin ATMs Worldwide and Argentina Wants 30,000 of Its Own

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Over 3,000 Bitcoin ATMs Worldwide and Argentina Wants 30,000 of Its Own

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New figures released by CoinATMradar show that there are now 3,125 Bitcoin ATMs worldwide, with six new installations daily, reports BitcoinistArgentina plans to become the world’s biggest player with pre-agreements to install 4,000 ATM around the South American country as part of a new government plan to install 30,000 machines in the future.

Bitcoin’s recent slump hasn’t seemed to have affected the ATM industry with reports that it’s healthier than ever, given that at the beginning of 2017 there were only 1,000 machines worldwide.

Bitcoin ATM startup BCB ATM saw its sales figures soar by 528% in just 11 months through 2017, and other companies are experiencing the same rise in sales in 2018. Rising Bitcoin prices over the past three years have accelerated the installation of machines with cryptocurrencies’ wider adoption around the world.

The United States remains the largest business provider for ATM companies with 1,800 machines across the country, followed by Canada with 477, and then Austria in third place with just 174, as the demand for buying and selling using the machines increases. The US capital recently doubled its ATM availability from 20 to 40 due to public demand.

Machines which allow customers to both buy and sell have increased by 35% as manufacturers have improved hardware. These machines have proved to be profitable for operators as they charge fees for both buying and selling transactions, charging an average fee to the client of 8.77%.

Out of the 31 total hardware manufacturers, the top three include Genesis Coin (34.37%), General Bytes (27.49%), and Lamassu (11.23%) who comprise over 70% of the entire market. Bitcoin is king with 99.9% of all ATMs supporting it, followed in popularity by Litecoin and Ethereum.

ATMs are not the only way of trading on the move as increasing outlets, now numbering in their thousands, give customers a quick trading opportunity. Customers can now purchase their Bitcoins through vouchers, gift cards and web-money kiosks, with Switzerland leading the way with Bitcoin now available as payment at 1,357 railway ticket kiosks around the alpine nation.


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