The usage of cryptocurrency ATMs is steadily increasing as today the total number of fully functional bitcoin ATMs around the world has gone past the 3,500 mark.
Cointatmradar is tracking the locations of bitcoin ATMs and their graphs are a lot smoother than the ones for bitcoin prices over the past months.
According to Coinatmradar, we now have 3,508 installed bitcoin ATMs (at the moment of this writing) and more than half of them also support altcoins. Approximately a third of them provide support for Ethereum and Litecoin. Based on data from the past 2 months, we get about 8 new bitcoin ATMs installed every day.
Other coins supported by a smaller number of ATMs include Bitcoin Cash, Dash, and Monero. It’s a huge progress compared to early 2017 when bitcoin ATMs have just passed the 1,000 mark.
U.S.A. remains at the top of the list
North America has almost 75% of the total bitcoin ATMs available worldwide, followed by Europe with 21%, and Asia with 2.28%.
In Europe, the UK, Austria, and the Russian Federation are the top three countries regarding the total number of bitcoin ATMs installed.
Bitcoin is still the no.1 cryptocurrency
99.99% of the cryptocurrency ATMs offer bitcoin support while only 52.7% support altcoins which is sufficient proof the coin is still the most widely used.
Crypto ATMs may have started out as one-way machines that allowed buying only but now manufacturers are also offering two-way machines. Judging by their increasing market share (presently a little over 37%) the population is becoming increasingly interested in trading cryptocurrencies via ATMs.
Despite the ATMs’ high fees, they continue to gain users thanks to the convenient and easy to use solution they provide. It remains to be seen how they will evolve in the future and if other options will appear.