Bitcoin ATMs are growing, crossing the 3,500 mark as the demand rises. Despite a drop in prices, bitcoins remains the dominant choice as it is available in over 99 percent of these ATMs. Whereas the US and North America are the country and continent with the highest number of Bitcoin ATMs.
Bitcoin remains the dominant cryptocurrency
As the demand for the Bitcoin ATMs rises, its number has taken a hit as well. These ATMs might not be used as widely as that of fiat currency, but crypto ATMs are gradually becoming a popular medium to buy bitcoin among other cryptocurrencies.
In early 2017, this number has crossed 1000. Now, Bitcoin ATMs have taken a big leap as the total number worldwide reaches over 3,500. According to the latest data from Coinatmradar, the exact number of crypto ATMs is 3,508 across the globe.
Despite a huge drop in bitcoin price, it is currently trading at 63 percent down from its all-time high in December last year, the number of Bitcoin ATMs installed and used around the world is only increasing.
Out of the total crypto ATMs, 3508 that is about 99.9 percent supports bitcoin while only 1844, about 54 percent supports other cryptocurrencies as well. When it comes to altcoins, Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH), Dash (DASH), Monero (XMR), Zcash (ZEC), and Dogecoin (DOGE), are the cryptocurrencies available on these ATMs.
The average fee charged by these Bitcoin ATMs is 8.49 percent (The rate is calculated based on 1844 machines supporting buy operations, and 834 ATMs supporting sell operations). Whereas the average buy fee is 9.26 percent and average sell fee is 6.79 percent.
The US captures the top spot with highest crypto ATMs
Bitcoin ATMs offers an ease of functionality to the users while providing a range of features that make them favorable among crypto users. As the demand and interest of investors increases among people, it drives consumers towards these automated business machines.
If we take a look at countries, the United States has the highest number of Bitcoin ATMs in 2163 locations. The second spot is of Canada but it is down by substantial numbers with 613 locations. These are followed by UK, Austria, Russia, Czech Republic, Spain, Australia, Slovakia, and Switzerland.
In terms of continents, North America has the highest number of Bitcoin ATMs followed by Europe and Asia.
About 62 percent are one-way Bitcoin ATMs while approximately 37 percent are two-way. As for manufacturers, Genesis Coin, General Bytes, and Lamassu are the top ones.
The elimination of financial institution makes it an attractive option for the investors. These Bitcoin ATMs allows individuals to purchase a number of cryptocurrencies directly that further fosters their growth.
Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.