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Crypto ATMs have Expanded by 80% since Last Year, Data Reveals

Cryptocurrencies have seen an improved adoption, as startups take considerable interest in the digital currency. As crypto adoption keeps growing, there is also a quick expansion of the number of crypto-enabled ATMs in the world today. Recent Data shows that the numbers of ATMs have increased by 80% since last year. There have been 23 new machines installed every day, with the present number of ATMs surpassing 11,600, according to the data.

Startups have also taken interest in the growing popularity and adoption of cryptocurrency, as they have seized the opportunity in the market, while crypto ATM vendors are expanding more than ever.

About 11665 ATMs now available in the world

Coin ATM Radar has provided figures from its data warehouse to show the number of ATMs allowing crypto transactions have increased tremendously over the past 12 months. According to the data, the increase almost triples the number available at the same time last year.

At the beginning of the year, there were 6372 Crypto ATMs. As at press time, there are already 11665 ATMs deployed throughout the world. The number is surely going to increase as more ATMs are still being installed in different locations of the world.

One Fifth Of The World’s Population Engages In Crypto Trading
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According to the estimate from Coin ATM Radar, there is almost one ATM installed every one hour.

The U.S. is the top ATM installation destination, as the industry growth in the crypto sector has expanded more than in other economies. This year alone, Americans started with 4213 crypto ATMs, but there are over 9,000 ATMs in various locations from Tesla gigafactory to small shopping malls, according to Coin ATM Radar.

Unsurprisingly, the U.S. has about 79.2% of all Bitcoin ATMs in the world right now.

When it comes to European countries, the U.K. is leading the chase with about 268 ATMs while Hong Kong tops the Asian region with 62 Bitcoin ATMs.

For the Lain America’s Columbia takes the lead, with 40 ATMs, while South Africa leads in Africa with 6 installed Bitcoin ATMs.

Crypto industry in an upward trend

As far as startups go in the industry, San Francisco-based firm Genesis Coin is leading in the industry. The startup has already installed 4,189 ATMs worldwide. General Bytes and BitAccess occupy the second and third spots with 3442 and 1136 ATMs respectively.

Crypto trading is also trending and expanding in the crypto ecosystem. The March crypto crash affected the trading growth in the industry, but the market has recovered as it now takes an upward trend.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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