Bitcoin ATM Installations and Operator Growth 2021-2022- Industry Research

[tread93]

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]

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/

[tread93]

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.

[Mbitr]

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 !!!!

[Zlantann]

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.   

[Flexystar]

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.

[Poker Player]

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.

[Leviathan.007]

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.

[Lucius]

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.

[bigtimespaghetti]

nice info mate, thanks

[ChiBitCTy]

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?

[Mbitr]

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-uk

Not sure about the rest of Europe ?

[DdmrDdmr]

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 €.

[buwaytress]

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).

[tbct_mt2]

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.

[tread93]

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

[tread93]

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.

[tread93]

nice info mate, thanks

Thanks its my pleasure, bigtimespaghetti!

[dataispower]

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.

[tread93]

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.