Over last one year, various key metrics were used which demonstrate that adoption of bitcoin has increased and bitcoin fundamentals are getting stronger. Installation of Bitcoin ATMs is also on the rise and according to data provided by Coin ATM Radar, the number of installations over the past few months has increased significantly.
Over 6 Bitcoin ATM’s are being installed every day
According to the data put forward by the website Coin ATM radar, which measures the growth of Crypto ATM’s over the globe, it seems the demand for Bitcoin ATM is rising with a multiplier effect. The data states, that as on 06 Jan. 19
- The total number of crypto ATM’s across the globe stands at 4155
- There are 75 countries in the world that house a crypto ATM. The most installations are in USA (2492 locations), followed by Canada (702 locations) while Austria (267 locations) took the third place
- There are 42 producers across the globe that produce a crypto ATM
- There is 527 Bitcoin ATM operator around the globe.
Some of the other points covered on the website show the in-depth analysis of how the number of Bitcoin ATM has risen over years.
An interesting fact that comes out these data points shows that the first week of 2019 has seen and the addition of 34 ATM’s already and the rate at which this ATM is being installed currently stands at 6.3 ATM per day.
Out of the 42 producers that manufacture that Crypto ATM, the top 3 players include Genesis Coin whose machines are installed in 1330 locations. This is followed by General Bytes and Lamassu which have machines at 1236 locations and 433 locations respectively.
The following growth has come in despite not so favorable regulatory conditions for crypto ATM companies. A lot of the companies have not been able to work on their full potential dues to regulatory uncertainty. Very recently, Lamassu, the well-known cryptocurrency ATM manufacturer, which assembles its machines in Portugal, announced on Jan. 1 that after years of searching for a home, it is now officially Lamassu Industries AG of Lucerne, Switzerland due to the friendlier regulatory environment.
With the awareness and adoption towards Bitcoin and cryptocurrency is on the rise, the crypto ATM’s would definitely grow in correlation with them. Now everyone has their eyes on regulations across the globe which many believe would come in favor of Crypto ATM industry.
Will Bitcoin ATM continues to grow at the same pace in 2019? Do let us know your views on the same.
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.