In 2013, the world saw the launch of the very first Bitcoin ATM when a company called Robocoin placed a machine in a Vancouver coffee shop. It allows customers to trade Bitcoin for cash, and vice versa, the machine saw $ 10,000 worth of BTC traded on its first day.
According to CoinATMRadar, at this time, the estimated number of crypto ATMs around the world that allow customers to buy and sell Bitcoin (BTC) and other altcoins for cash is about 11,665 ATMs.
This reflects a remarkable grow in the number of crypto ATMs compared to last year. The number of crypto ATMs at the end of 2019 was estimated at 6,372 machines; and now, there has been an increase of almost 80%.
CoinATMRadar shows that the number of crypto ATMs is regularly increasing by an average of 23 machines each day, or nearly one new ATM per hour.
The United States recorded the fastest spread in the world of crypto ATMs and it acquired the highest share of crypto ATMs in its territory. The number of crypto ATMs located in the United States expanded from 4,213 ATMs in 2019 to 9,242 ATMs in 2020, an increase of over 50%. At this moment, the United States accounts for around 79.2% of the total number of crypto ATMs in the world.
There is also a rising diversity in the spread of crypto ATMs in the United States, with locations in small stores, malls and even one in the Tesla Gigafactory.
Canada, ranked second with 880 ATMs; the United Kingdom at third place with 268 machines; Hong Kong is fourth with 62 machines; and Colombia, with 59 machines.
As for Africa, South Africa occupied the continent’s leadership with 6 machines.
At the level of companies that make crypto ATMs, Genesis Coin ranked first in the world, with the San Francisco-based company serving 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 demonstrates the growing interest from both retail buyers and financial institutions, including financial giant Paypal.