According to the chart of Coin ATM Radar – a Bitcoin ATM Locator has disclosed that the number of Bitcoin ATMs is continuously rising and apparently doubles almost every year since 2016.
The persistent growth in crypto ATMs clearly shows the worldwide acknowledgment and adoption of cryptocurrency despite the bearish market in 2018. Bitcoin [BTC] fell more than 85% since 2017’s value, but the number of ATMs is expanding every day in new locations around the globe.
A research firm – Datalight revealed data on Twitter that every day six cryptocurrency ATMs installs all over the world, on average.
As per the data by Coin ATM Radar, currently (as on 12th Feb 2019) there are 4340 ATMs installed. If we check the number of ATMs by country, the U.S solely has the total sum of 2438 ATMs whereas Canada has 639, Austria’s 270, United Kingdom’s 206, and Australia’s 51.
The cryptocurrency scene has shown a boom, particularly in 2017. The amazing growth of Lighting Network, the commercial adoption of RippleNet, regulatory clarity by ASEAN region regarding blockchain and digital currency shows the massive growth of cryptocurrency.
Experts believe that crypto ATMs growth will not slow down as it fulfills two demands. First, cryptocurrency users can instantly receive cryptocurrencies and second, cryptocurrency teller machines are one of the simple and trusted sources to spend for daily needs without having bank accounts. The only thing is needed, fiat or we can say cash and ID to buy Bitcoin.
A Bitcoin ATM manufacturing company, BitOcean currently has four ATMs in stock, and each of them will be installed in Japan. Yan Pu, the co-founder of the company, told that it intends to install more ATMs after making the important adjustments according to the nation’s Financial Services Agency (FSA) rule.
If the number of ATMs is increasing daily – the fees that these machines charges is not. The ATMs generally charge between 3% and even 10% in some regions around the world – a massive wall against the step of worldwide adoption. With lower fees and Bitcoin being available in more locations, the cryptocurrency users would expand more quickly.
Image Source: BusinessInsider
Subscribe to our Newsletter to be a part of our future $1,000 per month contests.