Number of Bitcoin ATMs worldwide,. From January 2016 to February 2020
North America accounted for the majority of machines, with nearly 5,500 ATMs. Europe was home to about 2,500 machines, while Asia and the rest of the world had about 500 ATMs. Learn more at Bitcoin Code App
By the end of 2016, there were about 700 machines worldwide. The number of ATMs increased to about 4,000 by 2018 and more than doubled to over 8,000 by February 2020.
Bitcoin ATM growth has been driven by several factors, including the increasing popularity of Bitcoin and other cryptocurrencies, mobile payment platforms such as Apple Pay and Google Pay, and the growing number of unbanked or underbanked people.
Most Bitcoin ATMs are located in North America, with nearly 5,500 machines in the United States and over 1,200 machines in Canada.
Europe’s high population density and lack of restrictions on crypto-related businesses are two factors that have contributed to its strong showing in terms of Bitcoin ATM locations.
However, Asia is catching up quickly and saw a 400% rise in Bitcoin ATMs over the past year. Asia’s most significant Bitcoin ATM market is South Korea, with about 200 machines. China and Japan also have a strong showing with around 100 machines each. Other Asian countries are also beginning to see an increase in Bitcoin ATMs, including India and the Philippines.
Despite the growth of Bitcoin ATMs, these machines still only account for a small percentage of the total number of Bitcoin transactions worldwide. However, experts predict that as more people become comfortable with digital currencies and learn about their many benefits, we can expect to see continued growth in the number of Bitcoin ATMs worldwide.
What reasons will drive the number of Bitcoin ATMs globally to increase?
One of the critical factors likely to lead to growth in the number of Bitcoin ATMs worldwide is the increased demand for cryptocurrencies. As more people invest in these digital currencies, they will be looking for ways to purchase and sell them quickly.
This need could drive greater adoption of Bitcoin ATMs as a convenient way to access these currencies. Another factor that may contribute to growth in the number of Bitcoin ATMs is greater regulation in the cryptocurrency market.
As more governments worldwide take steps to regulate digital currencies, they are likely to require users to purchase and sell these assets through regulated platforms such as Bitcoin ATMs. As a result, it could significantly increase the adoption of these machines within the coming years.
Additionally, advances in blockchain technology are likely to continue driving growth in the number of Bitcoin ATMs worldwide.
As more companies and investors turn to this innovative platform for executing transactions, they may look to incorporate these machines into their operations. Overall, several factors are likely to contribute to the number of Bitcoin ATMs in the years.
How can ATMs be a convenient way to access bitcoins?
But what if you could use an ATM to access your bitcoins?
Bitcoins are a digital currency, so they can be challenging to hold onto and use. An ATM would allow users to easily and quickly convert their bitcoins into cash. In addition, it would make it possible to spend bitcoins anywhere, just like using a debit card to withdraw cash from an ATM.
A bitcoin ATM could also help encourage the adoption of this new form of currency. Many people are hesitant about using bitcoins because they don’t know how to get started or use them safely. An easy way to get bitcoins would make them much more accessible and increase their adoption by the public.
For one thing, not all ATMs can handle cryptocurrencies at this point. And even if they could, there are concerns about whether people will want to use a machine that converts their digital currency into physical cash.
Despite these challenges, a bitcoin ATM could represent a valuable tool for the future of digital currencies. If we want people to start using bitcoins more widely, we must find ways to make them more accessible and more convenient. And an ATM may be just the ticket for accomplishing that goal.