The Number of Bitcoin ATMs Hit 9,680 in September

[TrevorS]

The Number of Bitcoin ATMs Hit 9,680 in September, a 167% Jump Year-on-Year

According to data presented by AksjeBloggen, the total number of Bitcoin ATMs hit 9,680 at the beginning of September, a 167% jump year-on-year.

In December 2017, there were 1,932 BTMs in the world, revealed Coin ATM Radar and Statista data. By the end of 2018, this figure soared to 4,009, a 107% jump in a year. The number of Bitcoin ATMs operating around the world continued growing in 2019 and hit 5,795 in December.

However, 2020 has witnessed a surge in the number of ATMs supporting digital coins, with 3,885 new BTMs operating worldwide between January and September, a 67% increase in nine months.

The Number of BTMs in The United States Soared by 127% in a Year

Analyzed by geography, the United States represents the leading crypto ATM market, with 78% of all Bitcoin ATMs globally. The Coin ATM radar data also revealed the number of BTMs operating in the United States significantly increased in the last year. In September 2019, the US citizens could use 3,332 crypto ATMs all around the country. Statistics show the number of BTMs in the United States hit 7,567 in September 2020, a 127% jump in a year.





https://aksjebloggen.com/the-number-of-bitcoin-atms-hit-9680-in-september-a-167-jump-year-on-year/

[Lucius]

There has already been a lot of discussion on this topic, and despite the incredible growth in the number of crypto ATMs the fact is that almost 80% of all such devices are the USA. I have nothing against it, and the only logical explanation is that there is a demand for this type of service not only in the USA but also in Canada which together have about 8500 crypto ATMs.

The rest of the world has only about 1000 crypto ATMs together, which is almost an insignificant number if we take into account that there are billions of potential users who do not have access to any such device. It would be interesting to see data on the volume of trading through crypto ATMs in the USA - because although they are known as the most expensive way of trading, they are obviously profitable for owners.

[mk4]

There has already been a lot of discussion on this topic, and despite the incredible growth in the number of crypto ATMs the fact is that almost 80% of all such devices are the USA. I have nothing against it, and the only logical explanation is that there is a demand for this type of service not only in the USA but also in Canada which together have about 8500 crypto ATMs.

Quite mind boggling to be honest. We'd think that when we talk about buying bitcoin that people would mostly default to Coinbase and the like, but a good number of people seem to actually use Bitcoin ATMs despite the enormous price premiums(I know, potentially due to privacy and all that, but still).

[hermawan9416]

How many of you have used these ATMs at least once in your life? I've never even seen them.

[wack slacker]

The number of ATMs is high, but that doesn't mean everyone will use them. Like traditional ATMs, they mean more of a marketing.
Now people are moving towards less cash by transferring money based on mobile apps. The future of bitcoin is not ATMs but in-store systems that accept Bitcoin.
I wonder if those 9,000 bitcoins are all legal?

[Renampun]

How many of you have used these ATMs at least once in your life? I've never even seen them.

currently, Bitcoin ATMs are not spread all over the world and only exist in few countries...
so for many people, it is still very strange because it is rarely seen. maybe in the next few decades, Bitcoin ATMs will be spread all over the world so you and I can see it.

[fiulpro]

I do believe that ATM's and debit cards if working together will form nothing but Banking system. This would soon be all connected but I do think there will always be a matter of Privacy.

"But then again what I believe is we have to also put the usage of ATM's into account."

Most of the ATM's are unused and therefore they go out of business soon enough. I believe we have to find a way to not only make the laws more favorable for the individual businesses owning the ATM's but also avoid such problems.

-The ATM's are not everywhere , only in those countries where the crypto adoption is sky high and the government is quite lenient with the laws.

-US , Canada , UK , Austria are the countries with most numerous crypto ATM's , if a crypto enthusiast won this election we might see a considerable rise in the current amount.

[mk4]

How many of you have used these ATMs at least once in your life? I've never even seen them.

You're really going to barely see ATMs unless you're from the bigger countries like the United States; and especially if you're not in the sort of capital city of your country. I personally haven't seen a single one in my life either because I barely go to the main cities.

[AjithBtc]

From the second image it is clear that more than 90% of the Bitcoin ATMs have got accumulated in a specific location or within a country. This needs to change and there is a requirement for the wide spread of bitcoin ATM all around the globe. Nothing big has happened out of such an increase in the number of bitcoin ATM. The global market for bitcoin hasn't grown, the real growth is when the 9680 bitcoin ATMs were evenly distributed.

[Haunebu]

This figure doesn't matter much in my opinion since the ATMs are located primarily in countries like USA and the TX fees are high. The ATMs need to be properly distributed through out the world and the TX fees needs to go down.

This is possible only through proper government regulations and low cryptocurrency volatility which is a difficult task to achieve, but definitely not impossible.

As adoption rates grow, the chances of such a scenario happening goes up. I can already imagine such an awesome scenario in the future.

[audaciousbeing]

When it comes to infrastructural development such as this, it will continue to be on the increase because the market still remains largely untapped and the market is still very fertile which makes it easy for entrepreneurs to enter the market and expand the market as well. Eventually, it will get to a point where the percentage increase in addition would be reducing because it would have been saturated and entry would become stiffer as regulations takes ground across the world.

[Expecto]

The number is really huge. I think it will continue to increase like that. Bitcoin is becoming more popular among people year by year. As long as the demand increases, there will always be a rise in the number of Bitcoin ATMs. They are still not very prevalent on Europe but there will be more Bitcoin ATMs there in time.

[boyptc]

It will increase more.

As the price of bitcoin is getting stable @$10k. There will be more Bitcoin ATMs that are going to be built everywhere. That's how it works, when bitcoin's price increases, people are interested.

When it goes down, the interest becomes less.

[pooya87]

There has already been a lot of discussion on this topic, and despite the incredible growth in the number of crypto ATMs the fact is that almost 80% of all such devices are the USA. I have nothing against it, and the only logical explanation is that there is a demand for this type of service not only in the USA but also in Canada which together have about 8500 crypto ATMs.

The rest of the world has only about 1000 crypto ATMs together, which is almost an insignificant number if we take into account that there are billions of potential users who do not have access to any such device. It would be interesting to see data on the volume of trading through crypto ATMs in the USA - because although they are known as the most expensive way of trading, they are obviously profitable for owners.

i think the lead by US is mainly because of the characteristics of an ATM for purchasing bitcoin which doesn't look that interesting to people in other countries. US is leading in invasion of privacy and since  ATMs could provide better privacy for those who want to buy bitcoin they obviously have more demand in US than in other countries that don't invade people's privacy as much.

of course another important factor to consider is number per population not just number per country. for example US has 328.2 million and Canada has 37.59 million population according to google from 2019 stats. so the number of ATMs per 1 million in US is 21 and in Canada is 25 which means Canada is in the lead.

[cheezcarls]

I bet it'll continue to grow even more. As massive adoption continues, there is no stopping these Bitcoin ATMs from growing. It's like the transition from barter to precious metals, then to fiat money and to Bitcoin, the adoption takes a long while. I've seen a few Bitcoin ATMs already in the Philippines, Hong Kong, Singapore and Taipei. They just need to be legally registered and regulated for them not to be shut down by the government.

[(o)(o)ilikeboobs(o)(o)]

When the ATM crypto card projects appear, in the future ATMs may support many different types of altcoins. What I am concerned about is that the withdrawal cost per transaction may be higher than regular ATMs.

[Twinkledoe]

When the ATM crypto card projects appear, in the future ATMs may support many different types of altcoins. What I am concerned about is that the withdrawal cost per transaction may be higher than regular ATMs.

This is one of the challenges with bitcoin ATM or crypto ATM, the fees are higher compared to other conversion methods like in remittance centers. If they can find a way how to reduce the fees, maybe the number of crypto ATMs will increase as well as those users that will directly use these ATMs.

[Astvile]

When the ATM crypto card projects appear, in the future ATMs may support many different types of altcoins. What I am concerned about is that the withdrawal cost per transaction may be higher than regular ATMs.

Surely it will have higher transaction fees. Plus the exchange rates will surely be low. But that's how bitcoin ATM manufacturers will earn from it besides ATM is still a business so it needs to make money. And that is our enemy when using this kind of machines so I doubt that ATM will be used more compared to our traditional means of exchanging bitcoin to fiat.

[Lucius]

...but a good number of people seem to actually use Bitcoin ATMs despite the enormous price premiums(I know, potentially due to privacy and all that, but still).

US is leading in invasion of privacy and since  ATMs could provide better privacy for those who want to buy bitcoin they obviously have more demand in US than in other countries that don't invade people's privacy as much.

Although I'm not sure how private it is to actually buy BTC on crypto ATMs in the USA - isn't there at least some kind of verification (using a mobile number) or no one cares about cameras (maybe they wear masks and hats?) Although it seems to me that this could be the biggest reason that this industry is literally booming regardless of all other markets.

How many of you have used these ATMs at least once in your life? I've never even seen them.

I have never had a chance to even see one, although there are 4-5 in total in my country, but none near the place where I live. It would be nice to have some on hand, especially if the fees were below 5% - but small communities are simply not cost-effective to set up such devices. A few years ago I read in an article that investing in a solid crypto ATM pays off in just a few months - of course location is a crucial factor as well as how many people even know about Bitcoin.

[Debonaire217]

It will increase more.

As the price of bitcoin is getting stable @$10k. There will be more Bitcoin ATMs that are going to be built everywhere. That's how it works, when bitcoin's price increases, people are interested.

When it goes down, the interest becomes less.

I don't think so, sometimes, it happens first that the demand increase and the price follows. If bitcoin will have more ATM's available spreading in many country, more people will see the opportunity that bitcoin is providing. It is like an advertisement already to see an ATM with a logo in it. This way, it can induce curiosity to people.

My only concern about bitcoin atm is that, with traditional wallets, we are already paying huge fees, what more if we use these ATMs. On the other hand, it is good to buy your own ATM machine.