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The Number of Crypto ATMs Grew By Almost 80% in 2020

09 November 2020 16:04, UTC
The Number of Crypto ATMs Grew By Almost 80% in 2020
CoinATMRadar estimates there are around 11,665 ATMs around the world that allow customers to buy and sell bitcoins and altcoins for cash.

The first Bitcoin ATM debuted in 2013 when a company called Robocoin placed it in a Vancouver coffee shop. Overall, 2020 saw a notable increase in the number of cryptocurrency ATMs compared to the previous period. As such, at the end of 2019, the total number was estimated at 6372 machines; thus, this year saw the increase by almost 80%.

CoinATMRadar also notes that the number of cryptocurrency ATMs is constantly increasing, with an average of 23 machines every day, or nearly one new installment per hour. The fastest spread of crypto ATMs was recorded in the United States, their number increased from 4,213 machines in 2019 to 9,242 in 2020, i.e. more than doubled. The US currently accounts for about 79.2% of the world's total crypto ATMs.

Canada ranks second with 880 ATMs; Great Britain is in third place with 268 machines; Hong Kong and Columbia came in fourth and fifth, with 62 and 59 machines respectively. The significant rise in the number of crypto ATMs reflects interest from both retail buyers and financial institutions, including such giants ast Paypal.

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