Three thousand Bitcoin ATM Installed In first quarter Of 2022

[tabas]

Is someone from the forum who's into this business? I've got someone, a stranger, who got to message me how to setup this type of business but eventually he's gone and I think that person has an ill intention to scam me. But as for the information that he has talked to me about this bitcoin atm business, it makes sense to me and that's why I think there's a viable reason why they keep coming and being installed gradually and I think it's a good business these days if there's no one yet into an area or city.

[xSkylarx]

Is someone from the forum who's into this business? I've got someone, a stranger, who got to message me how to setup this type of business but eventually he's gone and I think that person has an ill intention to scam me. But as for the information that he has talked to me about this bitcoin atm business, it makes sense to me and that's why I think there's a viable reason why they keep coming and being installed gradually and I think it's a good business these days if there's no one yet into an area or city.

I've seen some guides from @DdmrDdmr source that really require a lot of effort to setup, but this is good business. I will leave the link below. But first, you must determine whether bitcoin is legal or illegal in your country, because you cannot operate it if it is illegal.From what I researched, you need to first buy the bitcoin machine (you need to research any local dealers of this machine). For the US, there is Chainbytes, and then you need to register the machine for compliance. For the US, you need to register it in BTMCompliance. After registering, you need to setup the wallet and also decide where you would like to put your machine. There are a lot of tutorials online, but you really need to state where you are planning to put this so that you can find a reliable source for getting the machine and registering it.

Sources : https://coinatmradar.com/how-to-start-bitcoin-atm-business/
https://www.chainbytes.com/how-to-start-bitcoin-atm-business-operation/

[DaveF]

Take those numbers with a large amount of skepticism. There are many listed that no longer exist.
Some are in stores that have not been open for months.
Other machines and even entire businesses that have BATMs are not listed at all as far as I can see.

For some reason LibertyX does not seem to want their machines listed.

So

[DanWalker]

Bitcoin adoption around the globe is increasing with time. The installation of 3000 more bitcoin ATMs are a proof for the same. Though there is regular installation of bitcoin ATM, it isn't possible to see the same diversified around the globe. Only in specific locations the bitcoin ATMs were getting installed. Maybe this need to get diversified beyond the first world countries where 90% of the bitcoin ATMs were installed.

Indeed, the bitcoin adoption all over the world is increasing and the speed of this process is increasing as well, a few years ago there were a few installed bitcoin ATMs and just in a few countries while none could even imagine the installation of more than 3000 ATMs just in the first quarter of the year 2022 which is really huge amount of atm for bitcoin, however in order to use these machines passing KYC is always necessary and this can be a negative point of the story of bitcoin ATMs

I haven't had a chance to use Bitcoin ATM yet but if the usage involves KYC, I think I won't use them in the future. The fact that more and more Bitcoin ATM are installed is a good thing and hopefully Bitcoin will be widely used around the world. But with the KYC requirement it is a minus point, it is no different from our using a centralized exchange.

[taufik123]

Indeed, the bitcoin adoption all over the world is increasing and the speed of this process is increasing as well, a few years ago there were a few installed bitcoin ATMs and just in a few countries while none could even imagine the installation of more than 3000 ATMs just in the first quarter of the year 2022 which is really huge amount of atm for bitcoin, however in order to use these machines passing KYC is always necessary and this can be a negative point of the story of bitcoin ATMs

Meanwhile, the UK is currently shutting down all Bitcoin ATMs and banning them.
This is because there is no official permit to operate Bitcoin ATMs and bitcoin ATMs can be a loophole which regulators fear will be exploited by money launderers and illegal businesses to use janitors and make small transactions to avoid being noticed by the authorities.
https://www.bbc.com/news/technology-60709209

Therefore, KYC is indeed needed so that bitcoin ATMs are not used as a place for transactions for crime. There will be positive and negative points. Bitcoin ATMs still need development in order to comply with existing regulations and not become a place for criminal transactions.

[dark1234]

Indeed, the bitcoin adoption all over the world is increasing and the speed of this process is increasing as well, a few years ago there were a few installed bitcoin ATMs and just in a few countries while none could even imagine the installation of more than 3000 ATMs just in the first quarter of the year 2022 which is really huge amount of atm for bitcoin, however in order to use these machines passing KYC is always necessary and this can be a negative point of the story of bitcoin ATMs

Meanwhile, the UK is currently shutting down all Bitcoin ATMs and banning them.
This is because there is no official permit to operate Bitcoin ATMs and bitcoin ATMs can be a loophole which regulators fear will be exploited by money launderers and illegal businesses to use janitors and make small transactions to avoid being noticed by the authorities.
https://www.bbc.com/news/technology-60709209

Therefore, KYC is indeed needed so that bitcoin ATMs are not used as a place for transactions for crime. There will be positive and negative points. Bitcoin ATMs still need development in order to comply with existing regulations and not become a place for criminal transactions.

Crypto ATM closures also occurred in Singapore after the Monetary Authority of Singapore (MAS) banned cash-to-crypto terminals as part of a wider crackdown on cryptocurrency advertising to the public.
fortune.com/2022/01/19/singapore-cryptocurrency-regulation-bitcoin-atm/
even though Singapore is one of the cryptocurrency-friendly countries

[Wiwo]

The statistics suppose to be higher than portrayed statistics because bitcoin has turn to universal currency which no country today that's not aware of cryptocurrency, so beside bitcoin ATM supposed to be viral because it currency is decentralized and has already dominate half of the world, so Bitcoin is financial freedom.

Well to some extent I agree with you the number of Bitcoin ATM should be more than what we currently having since Bitcoin have gain mainstream adoption but then we should not forget the many set back that a decentralized currency will face in a centralized cycle were the government feels since they can't control Bitcoin their will have to undermined it growth this is why we are not seeing rapid increase in the number of BTC ATMs but I know with time the narrative is going to change.

[darkv0rt3x]

To try to see where the increase of bitcoin ATMs takes place during Q1, we can take a look at the growth chart and subsequent territorial charts. The readings are slightly shifted from those in the article (slight date shift), but boil down to:

Code:

Area                          01/04/2022    01/01/2022      Diff Q1        
WorldWide                     36.656         34.293         2.363          
                                                                           
Europe                        1.378          1.398          -20            
USA                           32.223         30.068         2.155          
Canada                        2.346          2.159          187            
UK                            23             99             -76            
Austria                       137            140            -3             
Spain                         196            171            25             
Switzerland                   142            137            5              
                                                                                       

Q1 is really closer to 2K (2.363) than 3K (which is what the article states), but leaving that aside, growth during Q1 is essentially concentrated in the US and at a far distance by Canada.

Why are some European countries separated from Europe even if they are part of Europe? Like Spain and Switzerland? Any special reason? Also, why is an increase in the number of ATMs represented as a negative number? Anyway, 2k machines in the USA is an amazing increase. I would like to see more in my own country, despite the fact that the fees are probably too high.

Does these machines have any kyc??

[DdmrDdmr]

My guess is that, within Europe, separate charts for specific countries were created to enable a visual drill-down on some of the major countries where ATMs were making a significant rise, and reached a respectable volume (the view wasn’t always like that).

Negative increases are decreases (there are less ATMs now in some countries than at the beginning of the year).

Currently, KYC will vary from country to country as per their regulations, and it could range from being necessary for any TX, to being necessary for TXs above a certain threshold. The KYC itself, when required, can sometimes be a scan of your Id, but in other instances providing a cell phone will suffice (you’d normally need to have it handy to complete the TX though, since they'd normally send you and SMS with a code that you need to complete the TX).

[bakasabo]

Why are some European countries separated from Europe even if they are part of Europe? Like Spain and Switzerland? Any special reason? Also, why is an increase in the number of ATMs represented as a negative number? Anyway, 2k machines in the USA is an amazing increase. I would like to see more in my own country, despite the fact that the fees are probably too high.

Does these machines have any kyc??

I think there we see separate countries just to stress where most of European ATM situated. If they post 1000 ATM in Europe, people might think that they would find an ATM in every European country, but in reality it might turn that 500 ATMs are in Spain, 499 in Austria and 1 in "rest Europe". For example it is said that Europe has 1378 ATM units, while there is 0 in my country and coinatmradar.com shows we have dozens of them (answer - little shops that accept Bitcoin (I havent checked that info) mark themselves (or coinatmradar does) as an ATM).

[qwertyup23]

About 20,000 Bitcoin ATM was installed in 2021 and that has not stopped as the have been an installation of over 3,000 Bitcoin ATM in the first quarter of the year 2022. This data was show on the news:
https://news.bitcoin.com/tracker-shows-close-to-3000-crypto-atms-were-installed-in-2022s-first-quarter/

Just a quick question for everyone, has anyone tried using any Bitcoin ATMs installed in your respective countries? Are the transaction fees high; and is the process also relatively fast? So how would this operate- the Bitcoin ATM would issue currency after such exchange?

Fortunately in the Philippines, our local exchanges offer instant conversion from Bitcoin to our currency (Peso) in which you can directly pay your bills or purchase any products/services. The only downside is, the conversion rates in our exchanges are abysmal to the point that the price gap compared when you purchase vs sell is just high.

[peter0425]

As the rate of Bitcoin ATM increased it has become evident that holders of Bitcoin can spend their Bitcoin at any shops or outlet, this give Bitcoin the mainstream adoption and the rate of Bitcoin ATM increase to a very high and the previous year 2021 saw where bitcoin ATM we're installed in gas stations and now pos outlets now accept Bitcoin debit cards for various transactions/payment. About 20,000 Bitcoin ATM was installed in 2021 and that has not stopped as the have been an installation of over 3,000 Bitcoin ATM in the first quarter of the year 2022. This data was show on the news:
 https://news.bitcoin.com/tracker-shows-close-to-3000-crypto-atms-were-installed-in-2022s-first-quarter/

While there are many ATM's being installed worldwide , my question is do the ATM machines for Bitcoin really receiving support from users?

if yes then this is indeed great news but what if people has more option in trading their bitcoin into fiat and vise versa?

like in my region , there are so many places where i can buy and sell bitcoin or couple of altcoins without the need to go in ATM machines in which mostly installed in strategic places?

but yes this is one proof that the increase of Bitcoin user worldwide is really spreading .

[Wiwo]

As the rate of Bitcoin ATM increased it has become evident that holders of Bitcoin can spend their Bitcoin at any shops or outlet, this give Bitcoin the mainstream adoption and the rate of Bitcoin ATM increase to a very high and the previous year 2021 saw where bitcoin ATM we're installed in gas stations and now pos outlets now accept Bitcoin debit cards for various transactions/payment. About 20,000 Bitcoin ATM was installed in 2021 and that has not stopped as the have been an installation of over 3,000 Bitcoin ATM in the first quarter of the year 2022. This data was show on the news:
 https://news.bitcoin.com/tracker-shows-close-to-3000-crypto-atms-were-installed-in-2022s-first-quarter/

While there are many ATM's being installed worldwide , my question is do the ATM machines for Bitcoin really receiving support from users?

if yes then this is indeed great news but what if people has more option in trading their bitcoin into fiat and vise versa?

like in my region , there are so many places where i can buy and sell bitcoin or couple of altcoins without the need to go in ATM machines in which mostly installed in strategic places?

but yes this is one proof that the increase of Bitcoin user worldwide is really spreading .

Even without checking the statistic, you will notice that it is due to the increase in bitcoin adoption by users that call for the increase in the number of Bitcoin ATMs if the number of bitcoin ATMs is on the decline it is then we will say the Bitcoin ATM initiative is not seeing support from the people but this one that the number keeps increasing it shows the level of demands.

[tabas]

Is someone from the forum who's into this business? I've got someone, a stranger, who got to message me how to setup this type of business but eventually he's gone and I think that person has an ill intention to scam me. But as for the information that he has talked to me about this bitcoin atm business, it makes sense to me and that's why I think there's a viable reason why they keep coming and being installed gradually and I think it's a good business these days if there's no one yet into an area or city.

I've seen some guides from @DdmrDdmr source that really require a lot of effort to setup, but this is good business. I will leave the link below. But first, you must determine whether bitcoin is legal or illegal in your country, because you cannot operate it if it is illegal.From what I researched, you need to first buy the bitcoin machine (you need to research any local dealers of this machine). For the US, there is Chainbytes, and then you need to register the machine for compliance. For the US, you need to register it in BTMCompliance. After registering, you need to setup the wallet and also decide where you would like to put your machine. There are a lot of tutorials online, but you really need to state where you are planning to put this so that you can find a reliable source for getting the machine and registering it.

Sources : https://coinatmradar.com/how-to-start-bitcoin-atm-business/
https://www.chainbytes.com/how-to-start-bitcoin-atm-business-operation/

Yes, I also think that it's actually a good business at all. With still a lot of missing in each area, there could be a great market in those crowded places if someone is going to put them there.
Well, for those countries where it isn't illegal, it's easy to make up for it but the setup and other things of putting it up are the problems. I think it makes sense that person has messaged me but also probably attempted to scam me but he has given some interesting insights about this business.
Thank you for the links, mate!

[Davidvictorson]

Bitcoin adoption around the globe is increasing with time. The installation of 3000 more bitcoin ATMs are a proof for the same. Though there is regular installation of bitcoin ATM, it isn't possible to see the same diversified around the globe. Only in specific locations the bitcoin ATMs were getting installed. Maybe this need to get diversified beyond the first world countries where 90% of the bitcoin ATMs were installed.

I do agree with you. I would love to see it diversified to other nations aside first world countries. I am thrilled to find out that there are a total of 14 Bitcoin ATMs in South Africa according to Coin ATM Radar. The highest in Africa. Other countries where Bitcoin machines are located are: Nigeria (1), Kenya (1), Djibouti (1), Ghana (2), Botswana (1), Zimbabwe (1), Uganda (1). However, it's hard to tell if the machine actually work in some of these locations.

https://www.talk-business.co.uk/2020/12/23/bitcoin-atms-how-they-work-and-where-to-find-them-in-africa/#:~:text=Ghana%20bitcoin%20ATMs,is%20a%20local%20IT%20firm.

https://en.wikipedia.org/wiki/Bitcoin_ATM#:~:text=There%20are%20a%20total%20of,%2C%20Durban%2C%20Johannesburg%20and%20Pretoria.

[Poker Player]

To try to see where the increase of bitcoin ATMs takes place during Q1, we can take a look at the growth chart and subsequent territorial charts. The readings are slightly shifted from those in the article (slight date shift), but boil down to:

Code:

Area                          01/04/2022    01/01/2022      Diff Q1        
WorldWide                     36.656         34.293         2.363          
                                                                           
Europe                        1.378          1.398          -20            
USA                           32.223         30.068         2.155          
Canada                        2.346          2.159          187            
UK                            23             99             -76            
Austria                       137            140            -3             
Spain                         196            171            25             
Switzerland                   142            137            5              
                                                                                       

Q1 is really closer to 2K (2.363) than 3K (which is what the article states), but leaving that aside, growth during Q1 is essentially concentrated in the US and at a far distance by Canada.

I am not surprised to see that the number of ATMs in Europe and the UK has decreased. What happened in the UK has already been commented on the forum:

Bitcoin ATMs forced to shutdown in the UK

In Europe I guess it is more or less the same: implementation of stricter KYC/AML policies.

The only attraction that this type of ATMs can have is to buy/sell without KYC, as they have very high fees, and to pay those fees and on top of that with KYC, better to buy or sell where the fees are considerably lower.

There may be other specific cases of people who like to try ATM with small amounts, but non-KYC seems to me to be the main reason to use them.

[darkv0rt3x]

My guess is that, within Europe, separate charts for specific countries were created to enable a visual drill-down on some of the major countries where ATMs were making a significant rise, and reached a respectable volume (the view wasn’t always like that).

Negative increases are decreases (there are less ATMs now in some countries than at the beginning of the year).

Currently, KYC will vary from country to country as per their regulations, and it could range from being necessary for any TX, to being necessary for TXs above a certain threshold. The KYC itself, when required, can sometimes be a scan of your Id, but in other instances providing a cell phone will suffice (you’d normally need to have it handy to complete the TX though, since they'd normally send you and SMS with a code that you need to complete the TX).

Oh, forget it. I missed that the 1st column is actually the most recent date. And 2nd column is the oldest date. I missed that detail when I first look at the table/chart and for instance for UK I was seeing 23 ATMs at the beginning of the year and 99 as of now. So, this would be an increase. However, the 3rd column is showing -76 which was weird to me. But I just noticed that the 1st column is is actually the most recent date! Forget it! :p

Why are some European countries separated from Europe even if they are part of Europe? Like Spain and Switzerland? Any special reason? Also, why is an increase in the number of ATMs represented as a negative number? Anyway, 2k machines in the USA is an amazing increase. I would like to see more in my own country, despite the fact that the fees are probably too high.

Does these machines have any kyc??

I think there we see separate countries just to stress where most of European ATM situated. If they post 1000 ATM in Europe, people might think that they would find an ATM in every European country, but in reality it might turn that 500 ATMs are in Spain, 499 in Austria and 1 in "rest Europe". For example it is said that Europe has 1378 ATM units, while there is 0 in my country and coinatmradar.com shows we have dozens of them (answer - little shops that accept Bitcoin (I havent checked that info) mark themselves (or coinatmradar does) as an ATM).

Yeah, maybe, probably. Anyway, an increase is always good. However, there is many people still concerned with KYC and high fees.

[TheGreatPython]

While there are many ATM's being installed worldwide , my question is do the ATM machines for Bitcoin really receiving support from users?

if yes then this is indeed great news but what if people has more option in trading their bitcoin into fiat and vise versa?

like in my region , there are so many places where i can buy and sell bitcoin or couple of altcoins without the need to go in ATM machines in which mostly installed in strategic places?

but yes this is one proof that the increase of Bitcoin user worldwide is really spreading .

Depending on the region you are in. Sometimes you do not "need" a business, but it is better to have alternatives and in some regions it is like that. We do have a grocery store around my house for example, but there are 3 more in a 2 mile radius too, should we close them all down?

It is basically a competition type of deal and I believe that it is working quite well. ATM for bitcoin is just an idea and provides an alternative to people who would like to use them, people who do not trust exchanges and that is how they get their coins. It is not super simple to use, but it is not difficult at all neither. Hence why it has been established in so many new places.

[virasog]

Bitcoin adoption around the globe is increasing with time. The installation of 3000 more bitcoin ATMs are a proof for the same. Though there is regular installation of bitcoin ATM, it isn't possible to see the same diversified around the globe. Only in specific locations the bitcoin ATMs were getting installed. Maybe this need to get diversified beyond the first world countries where 90% of the bitcoin ATMs were installed.

Once we have more and more bitcoin ATMs installed in first world countries, there are higher probabilities that the under developed countries will follow the same practice. However, only those county can install these public ATMs where the government have no problem with these installations. If bitcoin is not legal in any country, there is no way we can see those machines in those countries. Making bitcoin legal in countries is the first major sign of bitcoin adoption.

[molsewid]

Once we have more and more bitcoin ATMs installed in first-world countries, there are higher probabilities that the under developed countries will follow the same practice. However, only those county can install these public ATMs where the government have no problem with these installations. If bitcoin is not legal in any country, there is no way we can see those machines in those countries. Making bitcoin legal in countries is the first major sign of bitcoin adoption.

That's a good thing if ever the first-world countries initiate first to installed ATMs of bitcoin which I believe will provide a higher possibility to boost the bitcoin adoption all over the world. Here in my country, I haven't seen any bitcoin atm machine existing so far which of course I am looking forward to seeing it here in our country available. But now, since it is not yet accepted as a legal tender hoping that bitcoin atm will be possibly be installed in our country is so far impossible.