Cryptocurrency has started to become more popular and has started to immerse into the mainstream markets around the world. In the same fashion, the number of crypto-related technology to help the bigger transition is also on the rise. One of these innovations is Bitcoin ATM.
In places like El Salvador and the United States, the number of Bitcoin ATMs increased by a massive number in 2021. Data shared by Coin ATM Radar revealed that more than 20K new Bitcoin ATMs installed around the globe in 2021. The average number of Bitcoin ATMs installed per day is 50.
One report shows that there are more than 33k Bitcoin ATMs operating in the world at present. At the start of 2021, there were only 14K Bitcoin ATMs operating in the country. It is worth noting that the Coin ATM Radar does not account for all the Bitcoin ATMs around the globe; therefore, the total number could be higher.
It is visible that Bitcoin ATMs are becoming more popular due to the massive institutional adoption of the top coin. Furthermore, the yearly ROI statistics for the top coin are also quite significant. From the start of 2021, Bitcoin prices have appreciated by 70%.
There are many benefits to the installation of Bitcoin ATMs. The users can find a legitimate source to access the flagship cryptocurrency. Last year, there were several BTC ETF products introduced in many countries. Meanwhile, futures contracts and other derivatives also became popular pegged to Bitcoin.
Despite all the other options, many investors prefer to deal directly in Bitcoin due to the higher spot ratio returns. Amid the financial pressured market environment due to the COVID, it seems that Bitcoin and the broader cryptocurrency market stand to make higher gains in 2022.