tread93 (OP)
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Hey Guys, Since I last posted about this a little over a year ago-here: https://bitcointalk.org/index.php?topic=5335262.msg56936144#msg56936144 the overall crypto ATM machine installs worldwide has nearly doubled from a little less than 20k to a little less than 40k! I have been working on a list of Bitcoin ATM Operators and currently I am showing 121 unique operators in this space below (I am probably off by another 10-20 that I have not found or are too new to have any info yet). If this isn't proof of the adoption of Bitcoin then I don't know what is. Mind you this is also a physical presence of Bitcoin at your every day convenience stores which I think is pretty powerful to generating more awareness to the general public and definitely fosters curiosity. These machines have helped to further legitimize the crypto space as a whole. I check coinatmradar.com every few months and see new companies pop up every time so I can assure you there is constant growth in this space, year over year, for the past 8 years. This picture I posted on May 5 2021 which was the current BTM Growth on that very day: Fast Forward to now and there are over 20,000 MORE Bitcoin ATM machines that have been placed in gas stations, grocery stores, bodegas, vape shops, and many other types of brick and mortar stores all across the globe. Here is a current and alphabetized list of all the Bitcoin ATM companies that I am aware of. If you know of another Bitcoin ATM Company that is NOT on this list please leave me a comment or DM me as I want to have this list as accurate as possible. All-digital-coins-corp American Crypto America's Bitcoin ATM Athena Bitcoin ATM Coiners ATM Crypto Coins BAP (Bitcoin ATM Pros) Belco BTM Bit National Inc. Bit Stop BitBoss ATMs Bitbox Bitcoin ATM Services Bitcoin Depot Bitcoin Embassy New Hampshire Bitcoin NW Bitcoin of America Bitcoin Plug Bitcoin Station Bitcoin X / National Digital Systems Bitcoiniacs Bitcuac BiTerminal Bitminas BitPay BitPickup Black ATM Black Swan Bitcoin Block ATM BlockchainBTM BTM Machines BTM Nexus BTM Processing, LLC Budget Coinz Byte Federal Cash2Bitcoin Chiron Consulting Chiron Crypto CMJ Currency Solutions Coin BTM Coin Cloud Coin Connection Coin Genie Coin Time Coinark Coincental CoinDawg Coinflip Coinhub CoinLinx CoinMaster Coinmover Coinsource CoinNeko, LLC coins4less inc CoinTrade Coinucopia Coinwhale Coinworks Covault Cryptobase Cryptodispensers Bitcon ATMs Cryptonite ATM Cyber Hornet Deleware Kiosk Digital Cash 2 Go Digital Coin Strategy Digital Mint Digital Ventures Group Easy Bit EZ Coin FirstCoin ATM Freeda Freedom Gateway LLC Get Coins Gorilla Bitcoin Growth BTM Hermes Bitcoin HeroCoin Hilt Ventures Hippo Bitcoin ATM HODL Bum Honey Badger Icoin Mart Insta Coin Insta Kiosks Instabit ATM Just Digital Coin Kernel ATM Krakem ATM Kryptocorner LibertyX Local BTM Local Coin Maine Bitcoin LLC Metrofino BTM LLC Modern Tender National Bitcoin National Digital Systems National Vending New Age Bitcoin Pay Depot Pelicoin Phoenix Cryptro Purecoin Rockitcoin Shomulatm Simple BTC Slon BTM SmartBit ATM Sumbits TAO Bitcoin The Coin Bros UAD COIN Unbank Pay US Crypto ATMs Vault Logic Versa Exchange World Payment Systems XBTeller I hope you enjoyed reading! Have a great day Cheers, TREAD
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Mbitr
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Wow ! It’s amazing and very surprising to see this massive increase!! Thanks for posting OP Looking deeper it’s also interesting to see that the VAST majority of Bitcoin ATM machines are in the USA - 87.9%, with Canada being the next highest at 6.3% !! Is this because there is much more Bitcoin adoption in North America and/or because of regulation/laws? I believe in the UK you would need an FX license - which involves a lot of paperwork, money and abiding by KYC and AML regulations - a huge drawback. Is there anyway of knowing the difference between 1yr ago and now, to analyse if the North America percentage has increased and conversely the “rest of the world” has decreased relatively ? Hmmm - hope this makes sense https://coinatmradar.com/charts/geo-distribution/
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tread93 (OP)
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June 28, 2022, 07:59:30 PM |
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Wow ! It’s amazing and very surprising to see this massive increase!! Thanks for posting OP Looking deeper it’s also interesting to see that the VAST majority of Bitcoin ATM machines are in the USA - 87.9%, with Canada being the next highest at 6.3% !! Is this because there is much more Bitcoin adoption in North America and/or because of regulation/laws? I believe in the UK you would need an FX license - which involves a lot of paperwork, money and abiding by KYC and AML regulations - a huge drawback. Is there anyway of knowing the difference between 1yr ago and now, to analyse if the North America percentage has increased and conversely the “rest of the world” has decreased relatively ? Hmmm - hope this makes sense https://coinatmradar.com/charts/geo-distribution/Of course! I'm glad to share my findings with the community. It is a stark dominance, much like BTC dominance in the crypto market is basically the USA vs the world in Bitcoin ATMs. Regulators here in the US have made a clear path to becoming an operator so long as they maintain a robust KYC (Know Your Customer) and AML (Anti-Money Laundering) Policy in effect. The hardest thing for an operator a year ago was finding a business bank account, so the friendliness of the US banks to crypto companies in the last year have also helped more operators to spring up in USA. If I remember correctly the US market dominance of crypto ATMs at that time in 2021 was around 60% so we're talking about an almost 28% increase in US dominance since this time a year ago! Incredible.
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Mbitr
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June 28, 2022, 08:05:32 PM |
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Of course! I'm glad to share my findings with the community. It is a stark dominance, much like BTC dominance in the crypto market is basically the USA vs the world in Bitcoin ATMs. Regulators here in the US have made a clear path to becoming an operator so long as they maintain a robust KYC (Know Your Customer) and AML (Anti-Money Laundering) Policy in effect. The hardest thing for an operator a year ago was finding a bank account, so the friendliness of the US banks to crypto companies in the last year have also helped more operators to spring up in USA.
If I remember correctly the US market dominance of crypto ATMs at that time in 2021 was around 60% so we're talking about an almost 28% increase in US dominance since this time a year ago! Incredible.
Man that’s a huge increase ! I’ve just checked the UK list now - only 22 ATMs in the UK , I’m sure there was 500+ last year. When I’ve used ATMs in the Uk in the past there was no KYC/AAML but that was several years ago. GO USA !!!!
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Zlantann
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June 29, 2022, 05:44:44 AM |
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Looking at the massive increase in the rate of Bitcoin ATM operations in a short period gives me hope that in few years we might have a Bitcoin ATM in every city in the world. The only challenge most of these Bitcoin operators are facing is government unfavorable policies in most countries. Most countries see Bitcoin as a threat to the growth of both their central and commercial banks. I am sure next year's growth would be more massive because I expect Central African Republic and El Salvador to attract more Bitcoin operators. Hopefully, Panama would join the moving train.
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Flexystar
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June 29, 2022, 05:56:40 AM |
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Love it. Does anyone else think that they should be called as ATC machines? ATC- All time crypto. Interesting to see so many players are into this now and they growing the number of machines as well as its availability so that more people can use it with free will. Crypto currencies definitely need such connectedness outside the blockchain. ATC’ are doing the same.
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Poker Player
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June 29, 2022, 06:04:31 AM |
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I don't see this as very bullish. The attraction of ATMs is the non KYC, as they charge high fees and paying those fees with KYC does not make sense.
Seeing that more and more KYC is required, I understand that in the future KYC will be required for any amount, as it already happens in many cases, so I don't see much future for ATMs.
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Leviathan.007
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June 29, 2022, 08:28:38 AM |
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Regardless of how the price of bitcoin acts during these months, even in a bearish market situation installation of bitcoin ATMs growing in most of the country and especially in the USA. This growth shows the interest in the bitcoin and cryptocurrencies is increasing over time and due to the increase of demand from people and the companies especially during the high inflation time, this was to be expected to see this growth of bitcoin ATMs. However, I'm still not a fan of bitcoin ATMs because they force the users to pass the KYC and that's not cool when are talking about privacy.
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Lucius
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June 29, 2022, 09:49:21 AM |
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With a share of over 95% in North America, can we even say that something good is happening in the rest of the world? If this isn't proof of the adoption of Bitcoin then I don't know what is. Mind you this is also a physical presence of Bitcoin at your every day convenience stores which I think is pretty powerful to generating more awareness to the general public and definitely fosters curiosity.
You make a conclusion based on an incomplete picture, because if the number of crypto ATMs on one continent is constantly growing and falling in the rest of the world, it is proof that 95% of the world is actually going backwards in this regard. In addition, awareness is one thing, and buying BTC on such a device is quite another - when people realize that they can buy BTC without a 10% fee, they will certainly no longer use such devices.
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bigtimespaghetti
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June 29, 2022, 01:16:52 PM |
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nice info mate, thanks
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ChiBitCTy
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June 29, 2022, 04:48:37 PM |
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Great post bud. I see some Bitcoin ATM posts here and there on this website, but I don’t think I’ve ever seen anything as comprehensive as this in terms of showing ATM growth. Would be great if you could update this post here and there. Of course! I'm glad to share my findings with the community. It is a stark dominance, much like BTC dominance in the crypto market is basically the USA vs the world in Bitcoin ATMs. Regulators here in the US have made a clear path to becoming an operator so long as they maintain a robust KYC (Know Your Customer) and AML (Anti-Money Laundering) Policy in effect. The hardest thing for an operator a year ago was finding a bank account, so the friendliness of the US banks to crypto companies in the last year have also helped more operators to spring up in USA.
If I remember correctly the US market dominance of crypto ATMs at that time in 2021 was around 60% so we're talking about an almost 28% increase in US dominance since this time a year ago! Incredible.
Man that’s a huge increase ! I’ve just checked the UK list now - only 22 ATMs in the UK , I’m sure there was 500+ last year. When I’ve used ATMs in the Uk in the past there was no KYC/AAML but that was several years ago. GO USA !!!! Wow, so that much of a decrease huh. Maybe now there are more strict KYC/AAML and that’s why such a decrease?
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Mbitr
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June 29, 2022, 04:58:20 PM |
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Wow, so that much of a decrease huh. Maybe now there are more strict KYC/AAML and that’s why such a decrease?
Sorry OP going off topic a bit - Yep it seems the FCA have been cracking down - “ None of the cryptoasset firms registered with us have been approved to offer crypto ATM services, meaning that any of them operating in the UK are doing so illegally and consumers should not be using them.” https://www.fca.org.uk/news/news-stories/warning-illegal-crypto-atms-operating-ukNot sure about the rest of Europe ?
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DdmrDdmr
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June 29, 2022, 06:13:52 PM |
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One thing that I’m not fully acquainted with, is the reason for there being such a large amount in the US. Obviously territorial size is a factor, and perhaps it would be interesting to see the data of the number of bitcoin ATMs in relation to the country’s population, to relativize the numbers, but I’m still not fully aware of what makes them specifically interesting in the US (i.e. KYC yes/no, exempt volumes from KYC, commission rates, and so forth).
To give you an example, a certain chain of ATMs in Spain was quite widespread in terms of usage, as it allowed people to buy/sell without KYC for up to 1K €/day (which could easily be bypassed), with commissions in the range of 3% ..7%. That was of interest to quite a subset of bitcoiners. Recently though, they introduced KYC for any buy/sell order, regardless of the amount, which has essentially bought their usage down to bare minimal, and shifted business off to other chains that still, for the time being, lack KYC under 1K €.
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buwaytress
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One thing that I’m not fully acquainted with, is the reason for there being such a large amount in the US. Obviously territorial size is a factor, and perhaps it would be interesting to see the data of the number of bitcoin ATMs in relation to the country’s population, to relativize the numbers, but I’m still not fully aware of what makes them specifically interesting in the US (i.e. KYC yes/no, exempt volumes from KYC, commission rates, and so forth).
Throwing in my personal experiences here, which of course doesn't mean much to provide an answer to the question but hopefully adds context. The only people I know who've actually bought Bitcoin or sold via these ATMs are all US people. The answer was straightforward: the only way you could really buy or sell easily was through an ATM. You can't do P2P easily (need a license). You of course could use Gemini or Coinbase, but apparently not everyone there can easily get verified (and those I know who had Coinbase got themselves flagged by interacting with a crypto service like, let us say, gaming). Used to have this long-term guy work with one of my projects. And he gave me insight into how a typical American lives and spends when they don't have a fixed job (so no regular income or address) and so can't easily apply for bank cards without an address or problems. They pay WEEKLY rent, get paid weekly (we used to pay him weekly just to fit his lifestyle). So the moment Bitcoin hit him, he'd run off to an ATM and sell, pay his motel, food, etc. I'm Southeast Asian and there are just a huge variety of ways I could sell/buy Bitcoin, often for great rates and near-instant speed (plenty of automated bots on LBC, for example).
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tbct_mt2
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June 30, 2022, 01:09:28 PM |
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The distribution of Crypto ATM shows that America (especially North America) and Europe continents are the most crowded with crypto ATMs. There are very little crypto ATMs in Asia or Africa continents. Many countries in Asia and Africa continents are mentioned in 2021 global crypto adoption index report from Chainalysis. I believe the distribution will grow more in these two continents when local regulations are easier for cryptocurrency.
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tread93 (OP)
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June 30, 2022, 06:37:04 PM |
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Great post bud. I see some Bitcoin ATM posts here and there on this website, but I don’t think I’ve ever seen anything as comprehensive as this in terms of showing ATM growth. Would be great if you could update this post here and there. Thanks m8! I should also note that the fair majority in this list are mostly US based- but keep in mind that many of the US based companies are currently branching out into other parts of the world, mostly in South America for obvious reasons. I will definitely try to keep this one updated. Of course! I'm glad to share my findings with the community. It is a stark dominance, much like BTC dominance in the crypto market is basically the USA vs the world in Bitcoin ATMs. Regulators here in the US have made a clear path to becoming an operator so long as they maintain a robust KYC (Know Your Customer) and AML (Anti-Money Laundering) Policy in effect. The hardest thing for an operator a year ago was finding a bank account, so the friendliness of the US banks to crypto companies in the last year have also helped more operators to spring up in USA.
If I remember correctly the US market dominance of crypto ATMs at that time in 2021 was around 60% so we're talking about an almost 28% increase in US dominance since this time a year ago! Incredible.
Man that’s a huge increase ! I’ve just checked the UK list now - only 22 ATMs in the UK , I’m sure there was 500+ last year. When I’ve used ATMs in the Uk in the past there was no KYC/AAML but that was several years ago. GO USA !!!! Wow, so that much of a decrease huh. Maybe now there are more strict KYC/AAML and that’s why such a decrease? Actually the UK ruled them illegal I think late last year or early this year and forced operators to cease operations
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tread93 (OP)
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June 30, 2022, 06:38:44 PM |
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The distribution of Crypto ATM shows that America (especially North America) and Europe continents are the most crowded with crypto ATMs. There are very little crypto ATMs in Asia or Africa continents. Many countries in Asia and Africa continents are mentioned in 2021 global crypto adoption index report from Chainalysis. I believe the distribution will grow more in these two continents when local regulations are easier for cryptocurrency. Yep, North America is the largest player. China is out of question, Russia will probably be open to them soon, other countries I'm not quite sure. But I do have clients that are looking to place some or maybe already have by this point in South Africa.
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tread93 (OP)
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June 30, 2022, 06:40:49 PM |
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nice info mate, thanks
Thanks its my pleasure, bigtimespaghetti!
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dataispower
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June 30, 2022, 09:31:03 PM |
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Looking at the massive increase in the rate of Bitcoin ATM operations in a short period gives me hope that in few years we might have a Bitcoin ATM in every city in the world. The only challenge most of these Bitcoin operators are facing is government unfavorable policies in most countries. Most countries see Bitcoin as a threat to the growth of both their central and commercial banks. I am sure next year's growth would be more massive because I expect Central African Republic and El Salvador to attract more Bitcoin operators. Hopefully, Panama would join the moving train.
I cannot fully support that motion because bitcoin ATM machine is in the city whereby cryptocurrency is been legalized, because if cryptocurrency ATM machines been cited everywhere there will be a problem because of not all the country that adopt a cryptocurrency as a legal tender so standing bitcoin ATM machine or cryptocurrency ATM machine in all the city now it will not be possible because of government action in cryptocurrency especially Bitcoin. You made the reference of in time coming or more years coming that the machine will be circulated to all the cities.
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tread93 (OP)
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June 30, 2022, 10:20:07 PM |
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The distribution of Crypto ATM shows that America (especially North America) and Europe continents are the most crowded with crypto ATMs. There are very little crypto ATMs in Asia or Africa continents. Many countries in Asia and Africa continents are mentioned in 2021 global crypto adoption index report from Chainalysis. I believe the distribution will grow more in these two continents when local regulations are easier for cryptocurrency. I can tell you with confidence that Cape Town is currently a target market for Bitcoin ATMs. Many other places too, I think honestly the US has just been more on top of it than the rest of the world.
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