The ‘Bitcoin ATM’. Cash machines that work with crypto currency. Exactly how much they are used is unknown, but in numbers they have risen sharply in recent years. There are now more than 5,000 in 76 countries.
The number of available ATMs where crypto currency can be bought (and sometimes sold) has risen sharply in the last 12 months, despite the fact that the crypto market has had an eventful year. In December, data from Data Light showed that in 2018 six cash machines were added every day.
Milestone reached: more than 5,000 ATMs worldwide
From figures Coin ATM Radar shows that recently a new milestone has been reached. Today there are at least more than 5,000 ‘Crypto ATMs’, spread over 76 countries. 41 manufacturers and 543 operators are involved. The actual number can be (much) higher, since not all machines are registered. For example, in the US there are hundreds of stores where Bitcoin can be purchased through Coinstar devices.
The United States of America are miles ahead of the rest of the world. With 3,238 registered machines, it leads the list. Canada follows with 678 cash machines, and the top three are closed by Austria (266).
You may wonder why someone would use such an ATM. You may prefer to trade on an exchange yourself, or use one of the many available brokers.
One argument could be that it is a privacy-friendly way to purchase crypto currency, although that is in doubt. More and more ATMs require that you go through a KYC procedure, and these types of ATMs are also subject to increasingly strict regulations. Another argument could be that other purchasing methods are less accessible, although this seems unlikely from geographical data.