ATMs that support digital coins (BATMs) have increased in recent times as there are thousands of them around the world now. Last month alone, about 400 new ATM devices were added to make them close to 7,000 all over the world.
More 5% growth of crypto ATMs in January
According to recent statistics, ATM machines that support crypto transactions increased by 5% last month. Also, some major crypto coins are consolidating on their gains this year, with TC amongst the biggest gainers.
Is it time to buy Bitcoin?
The price of BTC rose from about $7,000 in the first few days of the year to close at $9,300 last month. It continued its rise again this month and reached more than $10,000 a few days ago. Although it has dropped a little bit below $10,000 at the time of writing, the price is still very encouraging considering the price at the beginning of the year.
While it’s still early days to think of a massive upsurge of Bitcoin, investors holding the coin would want to stick with it for some time to see how things go.
Other cryptocurrencies have also increased in terms of value, with Bitcoin Cash reaching close to $500 per coin against the previous value of $200 earlier this year.
Queries on crypto ATMs doubled since last year
There is more interest in the crypto space, which is spurred by higher prices. Now, more people are interested in investing in cryptocurrency than never before.
For new entrants to the crypto space, a crypto-enabled ATM is a great way for them to easily access crypto coins. Statistics on Google trends revealed that inquiries about crypto-enabled ATMS have doubled over the past 12 months.
This year, BATMs have continued the normal trend from last year to grow in numbers, based on a complied data by Coinatmradar, a ranking website.
From data gathered by the ranking website, the ATM market growth for Bitcoin indicated that there were about 6,330 operating BATMs around the world at the beginning of the year. From that period up until mid-February, 104 of those devices have been closed while about 432 new ones were launched. This brings it to 328 additional devices from January to mid-February, representing a 5.2% growth.
According to observers, with the stable growth of BATMs around the world, it could not be long before they are seen in every area around the world.
Most of the BATMs installed in these locations offer users the opportunity to buy and sell their crypto assets directly from the machines. However, not all machines support all the currency, with Bitcoin having the highest number of machines supporting its transactions.