Black susano (OP)
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April 07, 2023, 09:27:50 AM Last edit: August 09, 2023, 01:05:43 AM by Black susano |
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The bitcoin ATMs doubled this year surpassing 30,000 globally in the world today, more than double the estimation at the beginning of 2021. Some data collected
by Count, ATMs Radar shows that on Jan 1st, 14,016 registered locations were supporting automated teller services. For leading cryptocurrencies, for me, I think
the availability of digital coins has increased and bitcoin ATMs have contributed greatly now the crypto teller services are spread across 76 countries today and are run by 630 operators
In my county also the Bitcoin depot which has been expanding its network is the largest among all with 5,314 units (17.4℅ the third with 2,953 that coin flip also has about 3948( 11.7
Here are some links https://news.bitcoin.com/bitcoin-atms-double-this-year-exceed-30000-globally/
TOP 10 CRYPTO ATMs OPERATORS
BITCOIN DEPOT 6224 (18.9℅) COIN CLOUD 4269 (12.6℅)
COIN FLIP 3948 (11.7℅)
BITSTOP 2089 (6.2℅)
AROCKITCOIN 1960 (5.8℅)
COIN HUB 1173 (3.5℅)
BYTE FEDERAL 986 (2.9℅)
LOCAL COIN 875 (2.6℅)
CASH BITCOIN 796 (2.4℅)
NATIONAL BTC ATMs 729 (2.2℅)
The number of Bitcoin ATMs is more than double in 2021
And also the Bitcoin ATMs (Automated Teller Machines) are KIOSKS that allow a person to purchase Bitcoin and other cryptocurrencies by using or debit card.
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hZti
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April 07, 2023, 09:33:47 AM |
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I like those machines since they get people interested in Bitcoin in the first place. My plan is to also set up a machine like this in the future to spread more awareness about bitcoin. What I also think however that it will usually not pay off to have this machine since people will only do small purchases. It is not good for large investments due to high fees. What is a good machine that can be recommended?
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Oshosondy
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April 07, 2023, 09:42:41 AM |
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It is true that bitcoin ATM has increased ever since bitcoin was created, but since September 2022 to March of 2023 which was last month, there has been decline in crypto ATM, maybe this is because of the bitcoin regulation in United States, and slightly in UK. As shown above, net crypto ATM installations declined for four months between September 2022 and March 2023. However, with 3,627 crypto ATMs going down last month, March 2023 stands out as the month with the largest monthly decline.
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tbct_mt2
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April 07, 2023, 09:47:17 AM |
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It is true that bitcoin ATM has increased ever since bitcoin was created, but since September 2022 to March of 2023 which was last month, there has been decline in crypto ATM, maybe this is because of the bitcoin regulation in United States, and slightly in UK.
Here is the latest report for Bitcoin ATM market dynamics March 2023. The decrease of Bitcoin ATMs globally trend is continuing and has yet stopped. Period Start: 36156, Period End: 33761 Opened: 647, Closed: 3042;, Net Growth: –2395 (-6.6%)
I believe with more regulations and stricter ones on Bitcoin, Peer-to-Peer marketplaces (LocalBitcoins, LocalCrypto, Paxful closed their business recent months), Bitcoin ATMs will be challenged more by governments and we will see more ATM closures in future.
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Lucius
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April 07, 2023, 10:04:24 AM |
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The bitcoin ATMs doubled this year surpassing 30,000 globally in the world today, more than double the estimation at the beginning of 2021. ~snip~
Is it good news for those who live in the US or Canada? I say this considering that there are over 30 000 crypto ATMs in those two countries, while the rest of the world lags far behind. Therefore, from a global point of view, the situation almost does not change, because more than 90% of all crypto ATMs are located on one continent. It sounds fascinating that this is so, but it seems that there is a demand for such a way of crypto trading, although this does not surprise me at all when it comes to the US, where almost all important companies when it comes to the world of cryptocurrencies are actually located.
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Wiwo
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April 07, 2023, 10:17:24 AM |
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The bitcoin ATMs doubled this year surpassing 30,000 globally in the world today, more than double the estimation at the beginning of 2021. Some data collected by Count ATMs Radar shows that on Jan 1st, 14,016 registered locations were supporting automated teller services. For leading cryptocurrencies, for me, I think the availability of digital coins has increased and bitcoin ATMs have contributed greatly now the crypto teller services are spread across 76 countries today and are run by 630 operators In my county also the Bitcoin depot which has been expanding its network is the largest among all with 5,314 units (17.4℅ the third with 2,953 that coin flip also has about 3948( 11.7 Here are some links https://news.bitcoin.com/bitcoin-atms-double-this-year-exceed-30000-globally/https://imgur.com/YyCzdra https://imgur.com/a/9aQRoTL TOP 10 CRYPTO ATMs OPERATORS You have shared an old news as the link you shared concerning your perceived increase in Bitcoin ATM is dated 2021 and we are in 2023 already so this made the thread not accurate any more since opposite is the case of bitcoin ATMs at this moment, but then on you analysis you may have an entire misconception or outdated information. BITCOIN DEPOT 6224 (18.9℅) COIN CLOUD 4269 (12.6℅) COIN FLIP 3948 (11.7℅) BITSTOP 2089 (6.2℅) AROCKITCOIN 1960 (5.8℅) COIN HUB 1173 (3.5℅) BYTE FEDERAL 986 (2.9℅) LOCAL COIN 875 (2.6℅) CASH BITCOIN 796 (2.4℅) NATIONAL BTC ATMs 729 (2.2℅)
The number of Bitcoin ATMs is more than double in 2021 And also the Bitcoin ATMs (Automated Teller Machines) are KIOSKS that allow a person to purchase Bitcoin and other cryptocurrencies by using or debit card.
The year 2021 recorded some exciting development in term of bitcoin adoption and spread of it usage, biggest such development is the legalization of Bitcoin in El Salvador. El Salvador alone amounts to half of the reasons why there was a surge in demand for Bitcoin services such as Bitcoin ATM
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Zlantann
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April 07, 2023, 10:32:15 AM |
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It is true that bitcoin ATM has increased ever since bitcoin was created, but since September 2022 to March of 2023 which was last month, there has been decline in crypto ATM, maybe this is because of the bitcoin regulation in United States, and slightly in UK. As shown above, net crypto ATM installations declined for four months between September 2022 and March 2023. However, with 3,627 crypto ATMs going down last month, March 2023 stands out as the month with the largest monthly decline. The crypto sector was negatively affected by the fall of many exchanges like FTX last year and it led to a reduction of investment. The sector is just recovering from these downtimes. Or maybe people have decided to hodled their coins since the gradual market recovery. The bitcoin ATMs doubled this year surpassing 30,000 globally in the world today, more than double the estimation at the beginning of 2021. ~snip~
Is it good news for those who live in the US or Canada? I say this considering that there are over 30 000 crypto ATMs in those two countries, while the rest of the world lags far behind. Therefore, from a global point of view, the situation almost does not change, because more than 90% of all crypto ATMs are located on one continent. It sounds fascinating that this is so, but it seems that there is a demand for such a way of crypto trading, although this does not surprise me at all when it comes to the US, where almost all important companies when it comes to the world of cryptocurrencies are actually located. A sound economy will always attract investors. The US and Canada has super economies and high employment rates. People can afford to buy or use Bitcoin in these nations. Many bitcoin service providers operate in these nations because they have a wide range of adoption. These numbers are encouraging, hopefully, it will keep increasing as more people keep adopting bitcoin.
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hugeblack
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Is this data up to date? Because about a month ago, a software defect was discovered in one of the largest servers for these devices in the United States, and it caused a large number of these devices to stop. Also, fees and taxes may not make these devices profitable.
In general, it is great to have an ATM like this, especially in airports and tourist areas, more than the traditional places visited by the local population, because it will enhance the decentralization of Bitcoin and the lack of the need for conversion to dollars.
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RickDeckard
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April 07, 2023, 12:36:55 PM |
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Is this data up to date? Because about a month ago, a software defect was discovered in one of the largest servers for these devices in the United States, and it caused a large number of these devices to stop. Came here expecting someone to talk about this event. Not only did they stop working but General Bytes - the largest maker of bitcoin ATM's - claimed that at least 56 bitcoins were stolen before the patch was applied (around 15 hours after the attack started). The reach of the attack was also quite frightening: This resulted in the following: - Ability to access the database. - Ability to read and decrypt API keys to access funds in hot wallets and exchanges. - Send funds from hot wallets. - Download user names and their password hashes and turn off 2FA. - Ability to access terminal event logs and scan for any instance where customers scanned private keys at the ATM. Older versions of ATM software were logging this information. In general, it is great to have an ATM like this, especially in airports and tourist areas, more than the traditional places visited by the local population, because it will enhance the decentralization of Bitcoin and the lack of the need for conversion to dollars.
The last time that a friend of mine used a BATM he was asked to provide his taxpayer identification number and a phone number. I seem to remind that it was on a machine made by General Bytes but I suppose the information is requested by the cryptocurrency service that provides the bitcoin to the machine. Both information can be easily circumvented though as I don't believe they check if the taxpayer identification is valid and one can use a burner number...
[1] https://www.generalbytes.com/en/news/general-bytes-statement-on-the-security-incident-that-occurred-on-march-18-2023
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Z-tight
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April 07, 2023, 01:36:44 PM |
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Is this data up to date? Because about a month ago, a software defect was discovered in one of the largest servers for these devices in the United States, and it caused a large number of these devices to stop.
You are correct, it was discussed here: https://bitcointalk.org/index.php?topic=5410704The General Bytes hack was a big blow to the BTC ATM business since they are one of the biggest manufacturers. The hack didn't cause General Bytes to shut down their operation completely, but they closed down cloud services, and their customers, or the companies that use their machines would now have to operate using their own server: General Bytes notified readers that it would be closing its cloud service. From now on, the ATM provider will require its customers to access its ATMs via stand-alone servers. General Bytes also stated that customers have already been provided information on this new setup Also, fees and taxes may not make these devices profitable.
It may not be profitable for the customer who wants to buy or sell BTC, because BTC ATM's can charge transaction fees as high as 15 or 20%. But for the makers and the companies running these machines, i think it is very profitable for them.
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tbct_mt2
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April 07, 2023, 01:45:53 PM |
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It isn't profitable for the customer who wants to buy or sell BTC, because BTC ATM's can charge transaction fees as high as 15 or 20%. But for the makers and the companies running these machines, i think it is very profitable for them.
They have to do many things like submit and obtain a license, operational cost, maintenance cost and security for their ATM. I agree that such fee is expensive and if you have other options to choose, Bitcoin ATM should not be your choice as there are many better options for you. Bitcoin ATM Deposit Exchange Rate shocks. That person did not pay attention on given rate and fee before proceeding the purchase and got a big loss.
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majeed
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April 07, 2023, 04:25:34 PM |
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The bitcoin ATMs doubled this year surpassing 30,000 globally in the world today, more than double the estimation at the beginning of 2021. Some data collected by Count ATMs Radar shows that on Jan 1st, 14,016 registered locations were supporting automated teller services. For leading cryptocurrencies, for me, I think the availability of digital coins has increased and bitcoin ATMs have contributed greatly now the crypto teller services are spread across 76 countries today and are run by 630 operators In my county also the Bitcoin depot which has been expanding its network is the largest among all with 5,314 units (17.4℅ the third with 2,953 that coin flip also has about 3948( 11.7 Here are some links https://news.bitcoin.com/bitcoin-atms-double-this-year-exceed-30000-globally/https://imgur.com/YyCzdra https://imgur.com/a/9aQRoTL TOP 10 CRYPTO ATMs OPERATORS BITCOIN DEPOT 6224 (18.9℅) COIN CLOUD 4269 (12.6℅) COIN FLIP 3948 (11.7℅) BITSTOP 2089 (6.2℅) AROCKITCOIN 1960 (5.8℅) COIN HUB 1173 (3.5℅) BYTE FEDERAL 986 (2.9℅) LOCAL COIN 875 (2.6℅) CASH BITCOIN 796 (2.4℅) NATIONAL BTC ATMs 729 (2.2℅) The number of Bitcoin ATMs is more than double in 2021 And also the Bitcoin ATMs (Automated Teller Machines) are KIOSKS that allow a person to purchase Bitcoin and other cryptocurrencies by using or debit card. Check this out, folks! The number of Bitcoin ATMs has gone up to over 30,000 globally, doubling in just a year! This incredible increase surpasses the earlier forecast for 2021. The availability of digital coins has been expanding at a breakneck speed, thanks in large part to the Bitcoin ATMs. Count ATMs Radar's data shows that there were only 14,016 registered locations offering automated teller services on January 1st, but now, crypto teller services have spread to 76 countries and operated by 630 operators! The crypto industry's growth is an interesting subject. It's impressive to hear that the Bitcoin depot is expanding its network in your country and now has the largest network of 5,314 units, accounting for 18.9% of the total global units. The other top 9 crypto ATM operators are also worth noting and play a significant role in the industry. Overall, the significant increase in Bitcoin ATMs indicates the worldwide adoption of cryptocurrencies. This growth is undoubtedly exciting, and it's just the beginning! We can expect further advancements and expansions in the crypto industry in the future.
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kryptqnick
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April 08, 2023, 02:09:13 PM |
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While the growth in numbers is undeniable, there's another major factor to consider here: regional distribution. The data comes from CoinATMRadar which makes it very simple to have a look at where the ATMs are. Out of 33817 ATMs, 31 thousand are in the USA (or perhaps the North America, including Canada, since the grouped numbers can sometimes be a bit inaccurate in this regard). In contrast, there seem to be less than 50 ATM on the whole continent of Africa, and around 1500 in Europe. The distribution is incredibly unequal to talk about Bitcoin ATMs as a global phenomenon. They are very much tied to the North America, just as they have been for many years now.
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Faisal2202
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April 08, 2023, 02:36:59 PM |
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The number of Bitcoin ATMs is more than double in 2021
ATMs are really great machines to buy BTC instantly, but unfortunately, all I have experience with BTC atms is from reading articles and watching videos but never getting the chance to use one, actually crypto is banned in our country which makes it more difficult for implementation of BTC ATMs. But there is still hope like the bay City in the USA has a female running for senator for the next election name is warren she intends to make an anti-crypto army but the amazing fact is there are many BTC ATMs in that state which are running and there are no decrease in there numbers. This is a good sign as in the UK the number of BTC ATMs has decreased from around 200+ to around 90 ATMs and no Political leader is running these types of campaigns even. But still, numbers are decreasing. The fact is the one who quickly adopts the new technology always remains on the top list. .However, with 3,627 crypto ATMs going down last month, March 2023 stands out as the month with the largest monthly decline. That's True to some extent like in March more than 3,600 btc atms were turned off I think that's because of general bytes atm was compromised plus elections could have urge political parties to oppose BTC schemes and many of the leaders have focused to implement AML policies as recently there were many crypto frauds and scams has made it possible for authorities to increase restrictions. But still, in April almost 30 plus atms were implemented by Bitacess, Genesis, and general bytes.
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worldofcoins
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April 09, 2023, 10:19:36 AM |
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I like those machines since they get people interested in Bitcoin in the first place. My plan is to also set up a machine like this in the future to spread more awareness about bitcoin. What I also think however that it will usually not pay off to have this machine since people will only do small purchases. It is not good for large investments due to high fees. What is a good machine that can be recommended?
Yes, you are correct. Bitcoin ATMs have been growing incredibly, more than doubling in 2021. Currently, there are many Bitcoin ATMs globally. In addition, the availability of digital coins has increased due to the spread of crypto teller services across many countries. However, it is essential to note that Bitcoin ATMs often charge high fees, and users should exercise caution and ensure that they understand the costs before using them.
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S A KHAIR
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April 09, 2023, 10:31:54 AM |
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It's a great development and it shows that bitcoin's growth and demand is skyrocketing. Yet I still see many people saying that bitcoin is growing too slowly. I don't know what they're thinking, maybe they want 8 billion people in this world to use bitcoin, it's never going to happen. But one thing, I haven't seen a bitcoin ATM in my country yet.
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Black susano (OP)
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April 09, 2023, 08:49:30 PM |
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It's a great development and it shows that bitcoin's growth and demand is skyrocketing. Yet I still see many people saying that bitcoin is growing too slowly. I don't know what they're thinking, maybe they want 8 billion people in this world to use bitcoin, it's never going to happen. But one thing, I haven't seen a Bitcoin ATM in my country yet.
The bitcoin ATMs are much but most counties don't want them because they think it is a scams, maybe in the future it can get up to 10 or 11 billion people will invest their incomes in them.
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Don Pedro Dinero
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April 10, 2023, 04:13:14 AM |
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I believe with more regulations and stricter ones on Bitcoin, Peer-to-Peer marketplaces (LocalBitcoins, LocalCrypto, Paxful closed their business recent months), Bitcoin ATMs will be challenged more by governments and we will see more ATM closures in future.
The problem with BATMs is that regulations take away their main attraction. The business model of these ATMs is that they do not ask for KYC, at least below certain limits, and in exchange they charge higher fees than an exchange. The last time that a friend of mine used a BATM he was asked to provide his taxpayer identification number and a phone number. I seem to remind that it was on a machine made by General Bytes but I suppose the information is requested by the cryptocurrency service that provides the bitcoin to the machine. Both information can be easily circumvented though as I don't believe they check if the taxpayer identification is valid and one can use a burner number...
I don't know where you live but European IDs are not easily fakeable, and many BATMs detect burner numbers. So, as I said before, these ATMs lose their appeal. Why am I going to identify myself and pay much higher fees on top of that? In general, it is great to have an ATM like this, especially in airports and tourist areas, more than the traditional places visited by the local population, because it will enhance the decentralization of Bitcoin and the lack of the need for conversion to dollars.
I think it is one of the few uses that will be left once the ID request is generalised in all of them.
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Freddie Boyer
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April 10, 2023, 05:14:38 AM |
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It's a great development and it shows that bitcoin's growth and demand is skyrocketing. Yet I still see many people saying that bitcoin is growing too slowly. I don't know what they're thinking, maybe they want 8 billion people in this world to use bitcoin, it's never going to happen. But one thing, I haven't seen a Bitcoin ATM in my country yet.
The bitcoin ATMs are much but most counties don't want them because they think it is a scams, maybe in the future it can get up to 10 or 11 billion people will invest their incomes in them. While it is true that the number of Bitcoin ATMs has increased globally, some countries are hesitant to accept them due to fears of scams and scams. However, as awareness and understanding of cryptocurrencies continues to grow, it is possible that more people will invest in them. I think it's hard to predict how many people will use it and it definitely depends on a lot of things but logically with a global population of around 7.9 billion, getting to 10 or 11 billion people would be impossible.
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The Sceptical Chymist
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April 21, 2023, 09:06:53 AM |
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OP, thanks for starting up this thread. I've always been interested in BTCATMs and have used a few of them (for very small amounts, as I'm always afraid of getting scammed somehow)--and I posted about the first time trying one almost three years ago. But even though they seem to be in every gas station and convenience store in my area these days, I often wonder how many people actually use them, and I haven't seen any data on that. If I had to guess, I'd say most of them go unused because of the huge markup. There aren't many folks so in need of crypto while out in public that they have to pay that markup with cash at a BTCATM; why would anybody use one when they could just buy bitcoin or one of the other altcoins those machines offer on an exchange like Coinbase, Kraken, or whatever? It's not like those ATMs offer anonymity. Anyway, cool thread.
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