New Bitcoin ATM devices are now online at a speed of about 1 hour. In 2013, the world’s first Bitcoin ATM was introduced when a company called Robocoin installed a machine in its Vancouver coffee shop. On the machine that allows customers to buy and sell Bitcoin for cash, a $ 10,000 transaction was made in BTC on the first day.
According to CoinATMRadar, since we are a month away from the end of 2020, the estimated number of crypto ATMs that allow customers to buy and sell Bitcoin (BTC) and other altcoins for cash is approximately 11,665 ATMs.
This reflects a notable increase in the number of crypto ATMs compared to last year. At the end of 2019, the number of crypto ATMs was estimated at 6372 machines. Now, as we approached saying goodbye to 2020, there has been an increase of about 80%.
In addition, there is an increasing variety in the proliferation of crypto ATMs in the United States, with locations in small shops, shopping malls, transportation centers, and even the Tesla Gigafactory.
Canada, which is among the top five, is in second place with 880 ATMs. England ranks third with 268 ATM devices; Hong Kong ranks fourth with 62 devices; and recently Colombia, which has shown great interest in setting up 59 crypto ATMs, ranks fifth.
As for Africa, South Africa takes the lead of the continent with 6 machines. But Nigeria, the continent’s largest economy, has attracted attention due to the growing interest in the crypto space last year.
At the level of companies that produce crypto ATMs, Genesis Coin is the San Francisco-based company that has spread 4000 crypto ATMs worldwide, followed by General Bytes with 3442 ATMs. The significant increase in the number of crypto ATMs in 2020 shows the growing interest of both retail buyers and financial institutions, including financial giant Paypal.
CoinATMRadar also shows that the number of crypto ATMs is constantly increasing, with an average of 23 machines per day, or about one new ATM per hour.
The United States recorded the fastest spread in the world of crypto ATMs and took the largest share of crypto ATMs. The number of crypto ATMs in the United States increased from 4,213 ATMs in 2019 to 9242 in 2020. In other words, there was an increase of over 50%. The United States currently accounts for about 79.2% of the total number of crypto ATMs in the world.