Media outlets are reporting the increasing instances of cryptocurrency purchases making their way into the everyday financial activities of the masses around the globe. Keeping in view the increasing inflow of cryptocurrency investors around the world, the number of Bitcoin ATMs is also increasing proportionally. At present, the cryptocurrency market persists in a cascading trend cycle.
Nevertheless, the number of new Bitcoin installations is uncanny. The data projections from Coin ATM Radar reveal that since the start of the ongoing year, there have been around 3 thousand new Bitcoin ATM installations. It means that, on average, around 20 new Bitcoin ATMs were installed per day since the first day of January 2022.
The reconciliation of total Bitcoin installations reported during last year with the numbers of the recent one indicates a visible difference. Coin ATM Radar data recorded around 20 thousand installations last year. It means that, on average, 50 new ATMs were installed every day in 2021. At the same time, it seems that cryptocurrency adoption around the world has continued to increase and especially in countries like the United States.
The cryptocurrency investors who wish to make use of their cryptocurrency gains and bypass the hefty KYC or Know Your Customer verification process can take advantage of Bitcoin ATM. On the other hand, people are also looking for Bitcoin ATMs in their localities to make everyday payments. Some of the biggest retail stores have also installed Bitcoin ATMs in their franchises to facilitate their consumers.
Use of Bitcoin ATMs has Increased
Many reasons drive the demand for Bitcoin ATMs around the world. Thus far, countries like El Salvador, CAR, and Panama have decided to elevate Bitcoin as a legal tender. Meanwhile, some organizations are promoting a new type of bilateral ATMs that allow users to send and receive payments in the form of Bitcoins.
There are also instances where the users can learn more about Bitcoin and its use cases with the presence of a Bitcoin ATM in their neighborhood. Many organizations are allowing users to make payments with cryptocurrencies by making a Bitcoin ATM installation available across their franchises and branches.