Bitcoin ATMs and the Companies backing it.

[AjithBtc]

The number of bitcoin ATMs installed worldwide have crossed the 10000 count. This is a big step forward in the growth of the cryptocurrency market.

Countries having Bitcoin ATM - 71
Mall Kiosks & Convenience Stores selling Bitcoin - 211270

Countries with large number of Bitcoin ATM

• USA - 8004 Locations
• Canada - 879 Locations
• UK - 281 Locations
• Austria - 152 Locations
• Spain - 105 Locations
• Switzerland - 81 Locations

Leading Bitcoin ATM manufacturers

• Genesis coin - 3574 machines
• General bytes - 2964 machines
• Bitaccess - 1040 machines
• Coinsource - 632 machines
• Lamassu - 518 machines

As of now the bitcoin ATMs are located majorly on very few countries. Based on the level of cryptocurrency acceptance and legal support from the government can expect distribution of more number of bitcoin ATM all around.

As for concerned the usage isn't big as the Bank ATMs, but people have been looking for it for several reasons. At present the manufacturers of these ATMs too function on selected region. When the blockchain technology and the need for the bitcoin in the global market we can experience the global expansion from these companies.

Source : Bitcoin.com

[Charles-Tim]

There was a topic similar to this recently

Bitcoin ATMs Surge As There Are Now Over 10,000 Bitcoin ATMs Worldwide
September 21, 2020, 10:43:36 AM
https://bitcointalk.org/index.php?topic=5277251.msg55237152#msg55237152

As of the time when the topic was posted here on this forum just few days ago, the number of the total bitcoin ATMs innthe world was 10,115. But, as of today, the number as surprisingly increased, I make use of coinatmradar (https://coinatmradar.com/) to check the total number which is often updated. But, I do notice most of the ATMs are in USA, it will be good if other countries can have more ATMs by tuere crypto friendliness and development.

[todiefor17]

I wonder what is the cost of one Bitcoin withdrawal? Because cashless is currently the trend. Does the number of Bitcoin ATMs reflect the number of people using this service?
In Germany, illegal ATMs were dismantled. What about the above Bitcoin ATMs, are they completely legal?

[Charles-Tim]

I wonder what is the cost of one Bitcoin withdrawal? Because cashless is currently the trend. Does the number of Bitcoin ATMs reflect the number of people using this service?
In Germany, illegal ATMs were dismantled. What about the above Bitcoin ATMs, are they completely legal?

Before you can run a bitcoin ATM bussiness successfully, there are rules to follow. You can not just set up bitcoin ATM in a country that do not legalize bitcoin and other cryptocurrencies. And, if a country legalize cryptocurrencies, there are still rules to follow. You can learn more about this using the below links.

Check-list for running a bitcoin ATM
https://coinatmradar.com/blog/how-to-start-a-bitcoin-atm-business/

Revenue and Costs of operating a bitcoin ATM
https://coinatmradar.com/blog/revenue-and-costs-of-running-a-bitcoin-atm/

How to Start a Bitcoin ATM Business
https://coinatmradar.com/how-to-start-bitcoin-atm-business/

That is why it is good to check coinatmrader to know if bitcoin ATM you want to use is legit and comply to the rules of the country they are operating. If not found on coinatmradar that means the bitcoin ATM is operating illegally.

[Jawhead999]

I wonder what is the cost of one Bitcoin withdrawal? Because cashless is currently the trend.

The fees is high around 5-10%

Does the number of Bitcoin ATMs reflect the number of people using this service?

Probably yes if there's no one use Bitcoin ATMs, the growth of ATMs installed will decrease by time to time. But now we already have 10.000+ last year around 5000+, it mean the rising and adoption is so fast.

In Germany, illegal ATMs were dismantled. What about the above Bitcoin ATMs, are they completely legal?

AFAIK Bitcoin is legal in German, so ATMs is legal too. As you can see there's 28 Bitcoin ATMs installed in German [1], they only shut down all unlicensed Bitcoin ATMs [2]

[1] https://coinatmradar.com/country/80/bitcoin-atm-germany/
[2] https://news.bitcoin.com/germany-closing-down-all-unlicensed-bitcoin-atms/

[DdmrDdmr]

I wonder what is the cost of one Bitcoin withdrawal?

Easy, just go to any Bitcoin ATM site listed on https://coinatmradar.com/ and check their current Buy conditions. Mind you, the information may not always be up-to-date, so a complementary check through the ATM’s contact information may come in handy before actually going to one of them.

Does the number of Bitcoin ATMs reflect the number of people using this service?

There no circulating information that I’m aware of on the actual number of TXs per Bitcoin ATM, and their value per site or territory. I guess that ATM vendors do provide some sort of background when they pitch a sell, but it’s not something I’ve seen around.

In Germany, illegal ATMs were dismantled. What about the above Bitcoin ATMs, are they completely legal?

The information con CoinATMRadar is basically collaborative, where by people voluntarily relay information on these Bitcoin ATMs (i.e. https://coinatmradar.com/submit/). They do not validate the legality of the installations themselves.

[todiefor17]

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Thanks you!

I wonder what is the cost of one Bitcoin withdrawal? Because cashless is currently the trend.

The fees is high around 5-10%

5-10% is too high, need to change the transaction cost.
I have heard about this idea. I would like bitcoin ATMs to accept a crypto ATM card.
The idea is to unify in the creation of ATMs and cards.
ATM cards can hold a lot of crypto and ATMs accept payment by converting crypto into cash at a lower cost.
The first is to wrap the cryptocurrencies into another blockchain like WBTC. We will have W.altcoins and the use of crypto ATMs and crypto card will be easier and lower cost.

[Renampun]

I'm surprised that Australia is in 4th place on the list. This means that I underestimated the Australian crypto market. Do you know any interesting Australian projects?

I just realized it...
as long as I was a hunter on this forum I never once joined a crypto project originating from Australia.Australia is one of the countries that are open to cryptocurrencies but I was surprised by the number of ATMs there, it could be said to grow up fast there.

[20kevin20]

8004 ATMs in the US is an impressive number honestly. I'd be really curious to find out which country leads the highest amount of non-KYC ATMs though - that's the real winner! In Romania, we have a few - I think the USA has zero right now as KYC is mandatory over there for them AFAIK.

[boyptc]

Despite high fees through these ATMs, we can't neglect the increase of the people who are using it. That's impressive growth and indicator not just for the market of bitcoin.

But the adoption that these Bitcoin ATMs are getting. I wish to see an increase in my region even if that's gonna be slow.

[fiulpro]

I personally have never used Bitcoin ATM since they are located at very specific locations and at the same time I do believe the wallet transactions and encashing them are more safer and cheaper

https://coinatmradar.com/
I was so surprised that even Ukraine has 6 ATM's , at the same time I believe this site haven't updated everything till now.

With the ATM's the government are becoming more stricter with imposing registering and fee compulsory which is not at all good for the individual ATM businesses since it takes a lot of time , a lot of things to follow and at the same time you have to pay like a fee of registration , but it is somehow necessary to prevent problems like Money laundering using fake BTC ATM's.

I think before you use the ATM, you have to make sure that the ATM is trustable and the company is giving you good exchange fee.

[so98nn]

Amazing information. Never thought to search anything like this before though I knew my country had one BTC ATM which was also ceased by the government. Lolz.

It’s astounding to see the number of ATM globally. Wondering how they are regulating this publicly? I mean government must have put forth some taxation on the machine though. Unlike, the company which settled the ATM in India but it seems that it was illegal.

Other countries really support such out of the box techs, wish had same literacy in here. 

[TravelMug]

I'm surprised that Australia is in 4th place on the list. This means that I underestimated the Australian crypto market. Do you know any interesting Australian projects?

Lol, where have you been? Did you know that Australia is the second country behind Japan to legalised crypto, Cryptocurrency Regulations in Australia. So it makes sense that they should be in the top 5 at least.

And far as taxes goes, the IRS is already looking at it since 2019, he United States Internal Revenue Service said it was looking into potential tax issues caused by such ATMs and kiosks.

And there are reports as that governments are taking down illegal Bitcoin ATM's.

(1) US Takes Down $25 Million Bitcoin ATM Operation, Seizes 17 Machines.

(2) Germany Begins Closing Down All Unlicensed Bitcoin ATMs

(3) Australia - Busted! Bitcoin ATM Seized by Police

[worldofcoins]

Amazing information. Never thought to search anything like this before though I knew my country had one BTC ATM which was also ceased by the government. Lolz.

It’s astounding to see the number of ATM globally. Wondering how they are regulating this publicly? I mean government must have put forth some taxation on the machine though. Unlike, the company which settled the ATM in India but it seems that it was illegal.

Other countries really support such out of the box techs, wish had same literacy in here. 

I wish our government investigate digital money and support it more.
There are many branch and store in my nation who acknowledge the bitcoin legitimately, I can arrange food, purchase stuff, internet shopping.
Yet, there's no Bitcoins ATM in my locale.