Revisiting Bitcoin ATM Data and Current Growth World Wide

[Flexystar]

We are currently in the economy where lot of pulls and push factors affecting it. Whether it is pandemic, war, inflation, political factors OR misled economy, it always thrive with the time after a shockwave.

I was just researching about whether the growth of Bitcoin-ATM's has declined over the time due to above factors or not? Like, there could have been possibility that due to above mentioned facts Bitcoin ATM owners could have gone out of businesses, rents could have been over burden, increased inflation might have stopped people from using the bitcoin and much more.

Even a thought came in that whether to bitcoin crash, does people stop using bitcoin ATM's? & thus eventually does it reduce in the number?

However, it seems Bitcoin-ATM's are consistently growing around the world and keeping the steep graph of new installations. There is stagnancy seen but overall it is going on all the time.

Q. How many Bitcoin ATM's are being installed per day ?

Interestingly its around 13.6 ATM per day average. Coinatmradar uses 60 days methodology in which they would check the data over two months and take the 7 day factor to calculate speed. They have nice speedometer for this purpose and is shown in the below diagram


Image Source Click Here

Q. How many Bitcoin ATM's currently installed & how's the growth?

The data that is captured on the website suggests around 38,160 ATM's are availale at the time of writing this post.
This is huge leap considering we had 6 ATM's on October 01st, 2013. We can safely state that over the period of time Bitcoin has really made nice progress in terms of it's physical out reach.

Despite the fact that we were in the middle of Pandemic, the growth of Bitcoin ATM became 2.5X in just one year from 2021 to 2022. That was realy enormous growth. Checkout the grpah below for this.


Image Source Click Here

Q. Which manufacturer is taking the leap?

It seems that this data is a bit inaccurate since over the time many ATM's have switched to another software as and when needed. However, coinatmradar have tired to keep the histogram as per the received data.

Since August 01st 2021, BitAccess seems to be leading the market and outgrown all the old players. Though all the four manufacturers coexisted since very long time, now it is the era of BitAccess and currently has 11,000+ ATM's using their software.


Image Source Click Here

Q. Bitcoin ATM's GEO distribution.

This one is fun to see. North America alone contributes to 94.30% of Bitcoin ATM followed by rest of America. However, as whole America it contributes to 86.7% ATM against the World Ratio. Canada follows 2nd number lead with 6.7% of the ATM's and the runner up is European continent with 3.8%.

This makes us think, though there are SEC, CBDC and FED's highly active in America and always restrict usage of bitcoins or at least try to be very strict about it, Bitcoin ATM's growing a lot with the time in America.


Image Source Click Here


There are so many other tools that we can use and keep track of these ATM's, fees, softwares, manufacturer and much more.

Check out all the data here: CoinAtmRadar

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[EarnOnVictor]

This is a good article but some of the claimed facts are not accurate with what I know, while some others lack consistency. Nonetheless, the article is good and worth considering as the reality of what is happening with Bitcoin ATM installation.

What we need to consider are the facts that Bitcoin is not stable in price, that's a reason why many will not trust it as some people want. They might be losing money relying on their BTC in their ATM cards, unlike the fiat, especially the USD which is so stable.

The appreciation and patronage of the ATM machines matter to the success of the companies involved, but it discourages when they are low, which is why declining is being experienced.

Mind you, SEC, CBDC and FED as you claimed are not a problem to Bitcoin. SEC regulates, but never an issue for ATM, while the work of FED is even limited in this regard, it's only verbal yet, though as much as I know.

While the CBDC is not yet a problem, no one is regarding it as a viable rival of Bitcoin yet, it has not even been in force in the US.

[mk4]

It's quite mind boggling how ATM count increased, knowing how incredibly inferior Bitcoin ATMs are versus your typical centralized exchange. Post 2017 bull run, I expected Bitcoin ATMs to just slowly but surely grind lower lol.

[NeuroticFish]

Q. How many Bitcoin ATM's are being installed per day ?

Interestingly its around 13.6 ATM per day average.

While the numbers are impressive, it's no longer such a wonderful news as new ATMs were seen in the previous bull run.
Now the laws/rules are more strict and KYC is needed in much more cases/places and in some cases also the fees have gone up (and we know that crypto ATMs were never cheap).
Overall it's a good news, but, again, not as great as it would have been some years ago. US and Canada look good now; Europe and he rest of the world needs to also get the numbers rising.

[DdmrDdmr]

Nevertheless though, if we focus on the most recent months, the number of bitcoin ATMs since august 2022 has actually decreased slightly over the past six months, essentially driven by the numbers related to USA, which is the dominant segment that drives overall numbers. The other geographically broken-down charts may still show a mid-to-steep recent increase in some latitudes (i.e. Australia is rocketing), though their contribution to the overall numbers are a bucket of water in a pool.

One interesting bit of data that I miss on CoinATMRadar’s site is that of a chart that distinguished those bitcoin ATMs that are only available for purchases vs those that allow buy/sell operations. Ideally there’s also be another set of charts that breaks the installations down by type of kyc/limits, although I gather that the data is neither normalized not complete for this latter set.

[bakasabo]

It's quite mind boggling how ATM count increased, knowing how incredibly inferior Bitcoin ATMs are versus your typical centralized exchange. Post 2017 bull run, I expected Bitcoin ATMs to just slowly but surely grind lower lol.

I would not trust for 100% in numbers that coinatmradar.com shows. For example it shows 3 ATMs nearby. First of the ATMs is an office where I can do p2p exchange. Second ATM is also an office where I do p2p exchange, and also can buy different cold wallets. I would say that they looks more like a store, where you can buy crypto related merchandise, gadgets and also make an exchange. Third ATM - used to be an office, but their windows are so dirty, that is looks like the place has been closed for years. Problem with coinatmradar.com is that it is madly moderated. You can mark a place as an ATM, add pictures from the Internet and most likely nobody is going to check that info.

[Charles-Tim]

They might be losing money relying on their BTC in their ATM cards, unlike the fiat, especially the USD which is so stable.

I just want to point out that bitcoin ATM does not necessarily means you need a card for it, you can even buy coins on ATM and just a paper wallet can be printed by the ATM for you, which you can also use to spend. Bitcoin ATMs do not even support cards before.

Fiat is also not stable, just not volatile as bitcoin, but inflation makes it volatile in the down direction which does not favour in long term, but bitcoin volatility in long term makes the price to increase.

While the CBDC is not yet a problem, no one is regarding it as a viable rival of Bitcoin yet, it has not even been in force in the US.

People like to get bitcoin as a means of investing, what fiat can not give, but to depreciate in value over time. CBDCs are fiat. I can invest and see a reason to just spend bitcoin using bitcoin ATM at times if it is around where I live or where I do shop, but the fee is very high which can discourage some people.

[Lucius]

Nothing has changed in terms of the fact that we still have the absolute dominance of North America (US&Canada) over the rest of the world, so all those stories about some kind of unfriendly attitude of the US towards Bitcoin are not justified at all. Not only do they have the largest number of crypto ATMs, but there are also the most powerful companies in the world of cryptocurrencies, and this includes not only trading, but also mining, which according to some data has over 35% share in the US.

If we take into account the ATM number, the fact that it is mostly the most expensive way to buy/sell BTC - then the conclusion is drawn that Americans show a great interest in exactly this way of trading, and that high fees are not a problem for them.

[MusaMohamed]

They have a blog post with more details. Bitcoin ATM market dynamics, December 2022

In the last year, Bitcoin ATMs world wide decreased first time in history and in the USA only, there are 188 Bitcoin ATMs removed in the past year from 33739 to 33551. It is only -0.6% but 188 Bitcoin ATM were removed.

[Aanuoluwatofunmi]

What we need to consider are the facts that Bitcoin is not stable in price, that's a reason why many will not trust it as some people want. They might be losing money relying on their BTC in their ATM cards, unlike the fiat, especially the USD which is so stable.

Another thing I also think may be a constraints to the effect use of these ATMs is their transaction cost, it is believed that using the ATM incure higher transaction fee than when not using it, we can consider the companies that have deem fit in buying and stationing one on a particular location to also have a means to use the ATM as an investment and make some Program means of getting their service charges from the users aside the transaction fees, the only hope people can have in using it alot is when this issue of transaction fees is checked into and settled, then adequate provisions can be made on different locations and this can also encourage investors in doing same.

[EarnOnVictor]

I just want to point out that bitcoin ATM does not necessarily means you need a card for it, you can even buy coins on ATM and just a paper wallet can be printed by the ATM for you, which you can also use to spend. Bitcoin ATMs do not even support cards before.

The scope of my discussion was targeted to the card not where you are unnecessarily driving towards. I'm aware of what you explained which was why I didn't widen the discussion to that angle you brought out since they are well-known facts.

Fiat is also not stable, just not volatile as bitcoin, but inflation makes it volatile in the down direction which does not favour in long term, but bitcoin volatility in long term makes the price to increase.

Fiat is stable, no currency will be at one spot if that is what you are mistaken as unstable unless a country has a major problem or boom which makes the price of the currency significantly change, and this rarely happens. But when it comes to the range of their fluctuation, they are regarded as stable, unlike crypto, you can do your research.

People like to get bitcoin as a means of investing, which fiat can not give.

Says who? You don't seem to understand the meaning of currency investment thinking it's only crypto one can invest in, people invest in fiat daily, weekly, monthly, yearly and so on. So those who enriched themselves by buying the USD last year, didn't they invest? And if they had bought Bitcoin in the long-term in the same year, would they not lose? There are retail and institutional investors that just buy currencies and keep them when they speculate they will appreciate over some time.

It's about understanding, there is a reason why there are risk-on and risk-off seasons in the currency market. For the former, you buy USD and kept it, and for the latter, you buy your choice of appetite fiat and keep it. It's as simple as that, and it's an investment which banks and financial institutions do often.

[Charles-Tim]

Fiat is stable

Fiat is not stable, fiat prices are always control by the central bank or indirectly by the government.

Says who? You don't seem to understand the meaning of currency investment thinking it's only crypto one can invest in, people invest in fiat daily, weekly, monthly, yearly and so on.

You only save fiat or trade fiat, they are not investment means. Fiat will depreciate over time as usual. The point is that bitcoin gives what fiat did not give which makes people prefer to invest in it, even though as it is a speculative asset, fiat remain as depreciative assets. So CBDCs can't in any way have to compete with bitcoin.

[DaveF]

1st those numbers are wrong and have been proven to be wrong several times.

LibertyX is not and has never been listed as a BATM operator so the count is wrong. https://libertyx.com/a/buy-bitcoin/location-map
Since the site you listed uses 'pay for play' in order to get better listings some other operators will not be listed there too.
Not saying that it's wrong, just very very far from complete.

I can go on, but as soon as you look as those two pieces of info anything else you determine from the site you mentioned becomes wrong.

This next piece of info may be wrong since I have not looked recently, but if you just google BTC ATM Las Vegas you used to get a much larger list then what is listed there.
It's been over a year so I don't know if they have gotten better, but I was was using 2 when traveling and they were never listed on that site.


-Dave

[buwaytress]

Which reminds me, RIP BATMs in Europe? At least, where I live. When I first arrived in 2016/17 they were quite easily found, even within walking distance from me. Then they made a big fuss when they installed one at the major airport (I never got to see it, when I tried, it'd been taken away).

Then I think just as the onset of Covid came, and AMLD5, they took them all away. Store owners I spoke to said they were coming back soon, with identification features (at one point you could sell thousands of euros a day without KYC). I haven't seen any for two, maybe three years... not that I've looked them up. Just the familiar haunts have not seen them come back.

[kryptqnick]

It's good that you've mentioned the geographic distribution of ATMs and how they are heavily concentrated in North America and particularly in the USA. It's this fact which I find discouraging about ATM adoption: it's happening, and doing so at a pretty good rate, but mainly on a single continent. If this distribution is still the case after 10 years of ATMs spreading, it really shows that they aren't getting significantly more popular in Europe, Eastern countries or in Africa. It's not a big deal, since Bitcoin can be exchanged without ATMs, but it's a big obstacle to viewing the increasing number of ATMs as a sign of global adoption.

[Lucius]

I can't even imagine why people desided ATM is a good idea

Why would that idea be bad if it allows people to buy or sell Bitcoin in a very simple and familiar way? Although regardless of the fact that the idea itself is good, some things that are included in that idea are not very good, and I mean mostly very high fees and possible violation of privacy. Each service therefore has its own advantages and disadvantages, it is a matter of personal choice what one chooses, or whether one has a choice at all.

[Charles-Tim]

I can't even imagine why people desided ATM is a good idea

Can you also imagine why so many exchanges were affected last year and some people panicked and withdrew their coins and tokens from exchanges, but now the exchange trading volume increased again. Just know that people are always people, what you know today, some people may not know it and they only go for the ones that they think is available for them that they know. Lack of information can be the reason, some people can also see it as fun and use it sometimes. There are many of the ATMs that are not far from malls and supprmarkets, some are even in malls and supprmarkets, so people because of that sees it as a means of easy transfer if buying something from the mall or supermarket.

some things that are included in that idea are not very good, and I mean mostly very high fees and possible violation of privacy.

Is it possible that if the ATM transaction fee is not high, the ATM maintenance can be possibly handled accurately?

About privacy, I do not expect what is in the public not to be regulated.

[DaveF]

It's good that you've mentioned the geographic distribution of ATMs and how they are heavily concentrated in North America and particularly in the USA. It's this fact which I find discouraging about ATM adoption: it's happening, and doing so at a pretty good rate, but mainly on a single continent. If this distribution is still the case after 10 years of ATMs spreading, it really shows that they aren't getting significantly more popular in Europe, Eastern countries or in Africa. It's not a big deal, since Bitcoin can be exchanged without ATMs, but it's a big obstacle to viewing the increasing number of ATMs as a sign of global adoption.

Once again, you don't know that. You just know the ones that have been listed on that one very lacking site.

Check out: https://coinatmradar.com/city/92/bitcoin-atm-london-uk/
vs
https://coinatmmap.com/search/51.5072178/-0.1275862/London,%20UK

Shows a different picture between the two.

There are a lot more out there then people talk about here or can find on any one particular site.
This has been discussed here on the forum: https://pouch.ph/bitcoinisland about how BTC is all over the island.
How many BATMs does that site list? Yeah....thought so.

-Dave

[Luzin]

I also created a thread like yours in 2020 and last updated the condition of the number of ATMs available in December 2021. Maybe you can visit it [Share][Info][Diskusi] Data Pertumbuhan ATM Crypto Dunia. The year 2021 in December is still dominated by the United States, Canada and El Salvador.

But I'm also quite surprised the developments in the United States have increased by 30,000 atm in less than three years. Another interesting thing is El Salvador, there was no considerable increase even though they were listed as a country that legalized crypto. I don't know the validity of their data, but I also took data from https://coinatmradar.com/countries/

[Lucius]

Is it possible that if the ATM transaction fee is not high, the ATM maintenance can be possibly handled accurately?

The fee does not exist only so that the owner could maintain the device, but also to make a profit and pay all other costs. The actual maintenance costs probably depend on how well the device is made and what software solution it uses, and if there are no major problems then these costs should be minimal. High fees certainly cannot have a foothold in high maintenance costs.
 

About privacy, I do not expect what is in the public not to be regulated.

It is not a matter of regulation, but of the fact that anyone who accesses such a device can become a potential target of a physical attack, whether it is a direct attack or following a potential target to his home and attack later. Criminals are increasingly interested in people who deal with cryptocurrencies, because finding the right target means a potentially big catch - and if we take into account the risk they take in such an attack, it is better to attack someone in their private apartment/house than to rob a bank or something similar.