More than 20,000 new Bitcoin ATMs have been installed worldwide since early 2021, according to Coin ATM Radar which takes care in all places where cryptocurrencies can be bought and / or sold for cash.
2020 ended with 12,869 Bitcoin ATMs installed worldwide, and over the past year that number has climbed to 34,013 operating machines.
An ATM coin radar chart showing the number of machines installed over time reveals exponential growth.
Although they can be found in almost all parts of the world, their distribution is still concentrated – with approximately 95% of the machines located in North America.
The U.S. accounts for approximately 88% of the total with 29,990 machines, followed by neighboring Canada – with just over 2,229 machines.
El Salvador ranks third with 205 ATMs, followed by Spain and Austria with 197 and 142 ATMs, respectively.
ATM-supported cryptocurrencies are different – with most devices allowing access to Bitcoin, Ethereum and Litecoin.
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With more than 14,000 devices installed, Genesis Coin is by far the largest player in the market – in terms of manufacturers.
The American company, based in San Diego, CA, produced more than 40% of ATMs.
It is followed by the Czech company General Bytes with 7,561 (22.2%) installed machines, while in third place is the Canadian manufacturer BitAccess with 4,876 (14.3%) ATMs.
With over 600 operators worldwide, 70% run the top 10 companies.
The biggest players in the sector are American companies – Bitcoin Depot, which manages almost 20% of machines that work, followed by Coin Cloud and CoinFlip, which manage 14% and 10% of ATMs, respectively.
This year’s rush of installations reflects an interest in investing in cryptocurrencies more than anything else, judging by the fact that most running machines (77%) support a ‘just buy’ option.
“I think the importance of cash for cryptocurrencies today is really missed in the mainstream media, and we kind of provide that basic level that you can top up your dollars. You can take your US dollar and convert it into digital currency and get a million more uses and values than it, ”Chris McAlary, CEO of Coin Cloud He said recently on The Best Business Show hosted by Anthony Pompliano – explaining how ATMs allow individuals who do not have a bank to communicate with the global economy.
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