In 2013, the world saw the debut of the very first Bitcoin ATM when a company called Robocoin installed a machine in a Vancouver coffee shop. Enable customers to trade Bitcoin for cash and vice versa, the machine saw $ 10,000 in BTC traded on the first day.
Now that we are a month away from the end of 2020, the estimated number of crypto ATMs around the world that allow customers to buy and sell Bitcoin (BTC) and other cash altcoins is approximately 11,665 ATMs, according to CoinATMRadar.
This reflects a remarkable increase in the number of crypto ATMs compared to last year. The number of crypto ATMs at the end of 2019 was estimated at 6372 ATMs; now that we are almost saying goodbye to 2020, there is an increase of almost 80%.
CoinATMRadar also shows that the number of crypto ATMs is constantly increasing at an average of 23 ATMs per day, or nearly one new ATM per hour.
The United States recorded the fastest spread in the world of crypto ATMs and acquired the largest share of crypto ATMs in its territory. The number of crypto ATMs in the United States has increased from 4,213 ATMs in 2019 to 9242 ATMs in 2020, an increase of more than 50%. The United States currently accounts for about 79.2% of the total number of crypto ATMs in the world.
There is also a growing diversity of crypto ATM proliferation in the United States, with locations in small stores, malls, transportation hubs and even one at the Tesla Gigafactory.
The top five is rounded out by Canada, with 880 ATMs in second place; the United Kingdom in third place with 268 machines; Hong Kong in fourth place with 62 machines; and finally Colombia, which showed recently keen interest in setting up crypto ATMs with 59 machines.
As for Africa, South Africa occupied the lead of the continent with 6 machines, but it has to be careful like Nigeria, the continent’s largest economy, has shown growing interest in the past year.
At the level of companies producing crypto ATMs, Genesis Coin ranked first in the world, with the San Francisco-based company distributing 4,000 crypto ATMs around the world, followed by General Bytes with 3,442 ATMs.
The significant growth in the number of crypto ATMs in 2020 shows the growing interest from both private buyers and financial institutions, including financial colossus Paypal.