Cryptocurrencies: Bitcoin ATMs double in 2021, exceed 30,000 globally

*Bitcoin Automated Teller Machines have doubled in number since January 2021, and about 80 countries of the world now host teller machines exchanging cryptocurrencies with fiat money, says report

Alexander Davis | ConsumerConnect

Despite the growing opposition to the adoption of cryptocurrencies or virtual currencies in some economies around the world, locations providing crypto Automated Teller Machine (ATM) services have increased exponentially this year, according to data compiled by a major tracking site.

ConsumerConnect gathered the Bitcoin ATMs have doubled in number since January 2021, and close to 80 countries of the world now host teller machines exchanging cryptocurrencies with fiat money.

In a year when cryptocurrency markets broke all-time highs, the availability of digital coins has increased and bitcoin ATMs have contributed greatly, report stated.

Their number has recently exceeded 30,000 ─more than double the count at the beginning of 2021.

Data collected by Coin ATM Radar also indicated that January 1 this year, there were 14,016 registered locations supporting automated teller services for leading cryptocurrencies.

However, as of October 27, 2021, their number has reached a staggering 30,011 across economies in the world.

These Bitcoin ATMs and other crypto teller services, report said, are spread across 76 countries and run by 628 operators, according to the tracking Web site.

The United States (US) is the pronounced leader with more than 26,000 locations while neighboring Canada has a little less than 2,000, and the whole European Union (EU) hosts only 1,353.

Crypto teller devices have increased in Spain (155) and bitcoin-friendly Switzerland (130) but not all trends have been positive.

Their numbers have declined in some other major markets such as Austria, from this year’s high of 156 in June to 140 now, and the UK, which saw a dramatic fall from 229  January 1 to 98 as of Wednesday, November 3, 2021.

Supported cryptocurrencies vary between ATMs but most of them provide an opportunity to purchase bitcoin (BTC), and many sell one or more of the other major coins, such as bitcoin cash (BCH), ether (ETH), and litecoin (LTC).

Some offer stablecoins like tether (USDT), or popular altcoins like dogecoin (DOGE). Two-way teller machines, those that can also buy your cryptocurrency, are increasing in number, too.

The top 10 operators maintain almost 68% of all crypto ATMs, or more than 20,300, according to report.

Bitcoin Depot, which has been expanding its network in the US, is still the largest among them with 5,314 units (17.7%), whereas Coincloud is second with 4,028 (13.4%).

Coinflip comes in third with 2,953 devices, or a little less than 10% of the world’s total.

Genesis Coin remains the leading BATM manufacturer, accounting for over 40% of the market, followed by General Bytes with more than 22%.

Bitaccess is a close third with 14% of the currently operational devices.

Other producers include Coinsource (6.1%), Bitstop (4.2%), Bytefederal (3.5%), and Lamassu (2.3%). Smaller companies have installed 7.2% of all registered crypto teller machines.

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