Bitcoin ATMs have doubled since January: Coin ATM Radar

NEW DELHI: According to data released in October by Coin ATM Radar, a major cryptocurrency data compiling site, crypto ATMs have increased astronomically this year, Bitcoin.com reports.
Over 30,000 Bitcoin ATMs are currently functional around the world. The number of bitcoin ATMs have just doubled since January and nearly 80 countries now have crypto ATMs for exchanging cryptocurrencies with fiat money.
The growth of Bitcoin ATMs tracked by Coin ATM Radar in some of the countries is as follows:
* There were 14,016 registered locations supporting automated teller services for leading cryptocurrencies on January 1.
* The total Bitcoin ATMs have increased to a good 30,011 by October 2021.
* Both Bitcoin ATMs and other crypto teller machines are spread across 76 countries and run by 628 operators.
* The United States of America(US) leads with crypto ATMs in 26,000 locations.
* Canada has a little less than 2,000, and the entire European Union hosts only 1,353 units.
* Colombia has the highest number of crypto ATMs in Latin America. It has 46 machines and accounts for 0.7 per cent of the world’s crypto ATMs.
* The number of crypto teller devices have increased to 155 in Spain.
* Crypto ATMs have expanded in Switzerland as well to 130.
* However, few other countries saw a decline in crypto ATMs since last year.
– In Austria, the number of teller machines decreased from this year’s high of 156 in June to 140 now.
– The number of ATMs in UK fell from 229 on January 1 to 98 on October 27, 2021.
These ATM machines may support different cryptocurrencies but most of them have the facility for purchasing Bitcoin (BTC). The other services offered by crypto ATMs are :
* Some crypto ATMs sell one or more of the other major coins such as bitcoin cash (BCH), ether (ETH), and litecoin (LTC).
* Other crypto ATMs offer stablecoins like tether (USDT) or popular altcoins like dogecoin (DOGE).
* The two-way teller machines, where one can bothe buy and sell cryptocurrencies, are also growing
Among the Crypto ATM operators, Bitcoin Depot, which has been expanding its network in the US, is the largest and accounts for 17.7 per cent of ATMs which means 5,314 units.
Bitcoin Depot is followed by Coincloud with 4,028 units and Coinflip has the third largest share of less than 10 per cent with 2,953 devices.
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