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Number Of Installed BTC ATMs Doubled In 2021: Analysis

The number of installed BTC ATMs more than doubled in 2021 and crypto made a few leaps as far as mainstream adoption goes so let’s read more today in our latest Bitcoin news today.

The number of installed BTC ATMs doubled this year according to Coin ATM Radar that keeps the tabs on all locations where crypto can be purchased or sold for cash. 2020 ended with 12,869 BTC ATMs installed around the world and during this past year, the number climbed to 34,013 operational machines. Coin ATM Radar’s chart shows the number of machines installed over time revealing an exponential growth.

ATM Manufacturer
ATM Manufacturer

They can be found in almost all corners of the world, the distribution remains concentrated with about 95% of the running machines being located in North America. The US accounts for 88% of the total number of 29,990 machines followed by neighboring Canada with a little over 2229 machines. El Salvador took third place with 205 ATMs followed by Austria and Spain. ATM-supported cryptos could vary with most devices allowing access to BTC.

crypto ATM installations
Crypto ATM installations growth

With over 14,000 devices installed, Genesis Coin is the biggest player on the market as far as manufactures go. The US company based in California produced over 40% of the ATMs out there. The Czech company General Bytes came in with 7561 installed machines while BitAccess took third place with 4876 ATMs. With over 600 operators around the world, with 70% being run by the top 10 companies. The biggest players in the sector are the US companies Bitcoin Depot with 20% of the running machines followed by Coin Cloud and CoinFlip with 14% and 10% of ATMs respectively.

supported crypto

This year’s surge in installations shows the interest in investing in crypto more than anything judging by the fact that most of the running machines support the buy-only option. Chris McAlary as the CEO of Coin Cloud said:

“I think the importance of cash to crypto is really missed in the mainstream media today, and we sort of provide that base level of being able to supercharge your dollars. You can take your US dollar and you can turn it into a digital currency and get a million more use cases and value out of it.”

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Source: https://www.dcforecasts.com/bitcoin-news/number-of-installed-btc-atms-doubled-in-2021-analysis/

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