According to data from Coin ATM Radar, the number of Bitcoin ATMs worldwide has continued to grow at a blazing pace. In the past year, 1,900 Bitcoin ATMs have been installed worldwide, which is a jump of 50%. This rate is equivalent to 5 Bitcoin ATMs being installed every single day. This data suggests that the Bitcoin ATM industry continues to flourish.
This year’s surge in ATM installations is being led by the top Bitcoin ATM manufacturers including CoinCloud with 374 ATMs, CoinFlip with 348 ATMs, Bitcoin Depot with 312 ATMs, Coinsource with 277 ATMs, Rockitcoin with 207 ATMs, Bitcoin of America with 204 ATMs, PayDepot with 184 ATMs, local coin with 169 ATMs, iQCashNow with 147 ATMs, and digital mint with 132 ATMs.
At this time North America leads the world with 76.3% of all global Bitcoin ATMs. This is mostly concentrated in the United States which has 64.5% of the global total. Europe is in 2nd place with 19.7%, while Asia has 2.3% and South America only 1.1%. This data shows that there is plenty of room for the Bitcoin ATM industry to expand.
The Bitcoin ATM industry is crucial for Bitcoin adoption since it allows users to convert Bitcoin into cash and vice versa within minutes, turning Bitcoin into a currency that can be used in everyday life. Although Bitcoin ATMs often charge fees of 5% to 20%, for many users this fee is worth it to buy/sell Bitcoin instantly instead of waiting for days such as when using a crypto exchange.
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