Tuesday, February 25, 2020

More Bitcoin ATMs Are Springing Up Globally Despite Market Price Decline

Grace Joseph
Freelance Writer, Blogger, and Crypto Enthusiast. Studied Computer Science in University and Undergoing a Masters Degree Programme in Computer Engineering Contact@ reigngracia@gmail.com

Coinatmradar.com, a website for locating Bitcoin ATMs has recently released data which shows a rise in the number of Bitcoin ATMs (BATMs) around the world. Based on the company’s report, there are currently about 4,000 machines across the globe. Also, a higher percentage of these machines are located in the US, Europe, and Latin America.

The U.S. Takes the Lead in the Number of Installed Bitcoin ATMs

The U.S. tops the chart as the country with the highest number of Bitcoin ATMs. This is because there are 2,493 machines in the U.S. alone and it accounts for 55.9 percent of all hardware. Moreover, 45 states out of 50 have at least one of these machines and notable among them are California (475), Illinois (252), and Chicago (226).

Additionally, Coinatmradar.com report says a major part of these devices is also located in Europe. It notes that there are 958 BATMs, resulting in a 23.1 percent share. Countries in this continent where these machines can be found are Austria (270), the U.K (214), Spain (65), and Czech Republic (65).

Bitcoin ATMs Become Popular in Latin America

Latin American countries, on the other hand, have 1.7 percent of all Bitcoin ATMs. Some countries which make up a large part are Colombia (26), Argentina (8), and Peru (1). Asian countries are not also left behind given that Hong Kong (32), Japan (10), Singapore (9) and Taiwan (8) have taken their positions as regions with the highest number of machines.

It is also worthy to note that these devices are also used in African countries. Although there are only 7 of them, it appears that the buying and selling of Bitcoin are being encouraged. Countries, where these machines have been adopted, are South Africa (4) and Zimbabwe (1).

Increase in the Percentage of Bitcoin ATMs Installed

A closer look at the company’s data also shows a percentage increase in the number of Bitcoin ATMs in certain regions. Here, 49 more machines have been installed in the U.S. Also, 15 new machines (2.5% increase) were installed in Canada, while nine new machines (15.8% increase) have been added in Spain.

In the same vein, countries like the Bahamas and Turkey received their first set of machines. The website’s report also adds that the new machine in Nassau, Bahamas can only be used to buy Bitcoin while that in Istanbul, Turkey can buy and sell the digital asset.

Also, a look was taken at the top manufacturers of this hardware. Notable among them are Genesis Coin, General Bytes, Lamassu, BitAccess, and Coinsource. These manufacturers have delivered a total number of 1304, 1255, 441, 237 and 192 machines respectively.

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