Bitcoin ATMs increased by 70%, reaching 16,500 in March 2021, according to data provided by the TradingPlatforms.com platform. Bitcoin ATMs, also known as BTM, allow users to quickly access cryptocurrencies like Bitcoin. Developed countries like the United States, Canada and the United Kingdom hold the highest number of BTMs. However, they have also become very popular in countries with volatile financial markets where citizens need a quick exchange of an official currency for a digital asset not regulated by the government.
As of December 2017, there were 1948 BTMs in the world according to Coin ATM Radar and Statista data. Over the next twelve months, 1,953 more crypto ATMs were installed around the world, with a total number of over 4,000 as of December 2018. The number of Bitcoin ATMs operating around the world continued to grow and reached 6,036 in December 2019, an increase of 1926 in one year. However, 2020 has seen explosive growth in BTMs. Statistics show that the number of ATMs supporting digital coins has doubled to 12,735 in December of last year. The upward trend continued in 2021, with nearly 2,600 new BTMs installed since January, more than in 2019 as a whole.
The number of crypto ATMs in the US has jumped 85% since September, UK BTMs are down 25%
Analyzed by geography, the United States is the largest crypto ATM market, with 84% of all Bitcoin ATMs in the world. Coin ATM radar data also revealed that the number of BTMs operating in the United States has increased by 85% in the past six months. As of September 2020, US citizens have available 7,567 crypto ATMs nationwide. This figure rose to nearly 14,000 in March.
As the world’s second-largest BTM market, Canada has also seen impressive growth in the number of BTMs, with the figure rising from 866 in September to 1,275 last week. CoinATM data also revealed that the UK is the only one among the top three markets to have seen a downsizing trend. The number of crypto ATMs in the UK has plunged 25% in the past six months, to land at 195 in March. Austria, Spain and Poland follow with 154, 121 and 107 BTM respectively.
Statistics also show that Genesis Coin still tops the list of top Bitcoin ATM manufacturers, with a 38% market share and 6,346 BTM operating globally in March. General Bytes is the world’s second largest manufacturer with a market share of 27% and 4,512 BTM. BitAccess and Coinsource follow with 1,578 and 1,214 crypto ATMs, respectively. To go more in depth.