Data Shows Crypto ATMs have Expanded by 80% Since Last Year

Data Shows Crypto ATMs have Expanded by 80% Since Last Year

The adoption of cryptocurrencies has improved significantly, as startups are taking a great deal of interest in these digital currencies. With the increasing crypto adoption, there is also a sudden surge in crypto-enabled ATMs that exist globally today. According to recent data, the number of crypto ATMs has increased by almost 80% since the previous year. A total of 23 new machines have been installed every day and the data shows that the existing number of ATMs has surpassed the figure of 11,600. As mentioned earlier, crypto has become the focus of startups as well due to its growing adoption, and they seem to be seizing the opportunity in the market with crypto ATM vendors expanding their services more than ever.

The figures were provided by Coin ATM Radar from their data warehouse, which shows that the number of ATMs that support crypto transactions has tremendously increased in the last 12 months. The data highlights that the increase is almost triple the number of ATMs that existed at the same time in the previous year. At the start of 2020, the total number of crypto ATMs that could be found was 6372, but today, the total number of worldwide ATMs has reached 11,665. 

As a matter of fact, this number is going to increase even further, as more crypto ATMs are being installed in different parts of the globe. According to Coin ATM Radar’s estimates, almost one crypto ATM is installed every hour. The top destination for crypto ATM installation is none other than the United States, as the growth in the crypto industry in the region has increased a great deal more, as opposed to other economies. At the beginning of the year, the total number of crypto-enabled ATMs in the U.S. was 4,213. 

However, Coin ATM Radar indicates that this number has now reached 9,000, and crypto ATMs can be found in various locations, from small shopping malls to the Tesla giga factory. Unsurprisingly, nearly 79.2% of all the global Bitcoin ATMs can be found in the United States right now. As far as European countries are concerned, the U.K. has the highest number, with around 268 crypto ATMs. In the Asian region, the highest number can be found in Hong Kong, which is around 62. Columbia is in the lead for the Latin American region, as it has 40 ATMs, while with 6 ATMs, South Africa is at the top in the African continent. 

As far as startups in the industry are concerned, Genesis, the San-Francisco based company is currently in the lead. They have already installed a total of 4,189 crypto ATMs all over the world. The 3rd and 2nd spots have been claimed by BitAccess and General Bytes, with 1,136 and 3,442 ATMs, respectively. Crypto trading is also trending and expanding in the entire ecosystem. The trading growth had suffered due to the crypto market crash in March, but the market has made a recovery since then and is moving upwards.