- The variety of cryptocurrency ATMs simply handed the 7,000 unit milestone.
- The market is dominated by two main ATM producers.
- Bitcoin ATMs proceed to have excessive charges.
The entire variety of Bitcoin ATMs simply handed 7,000 worldwide, they usually can now be present in at the least 75 international locations.
This quantity has grown virtually parabolically because the introduction of the primary Bitcoin ATM in 2013. Based on knowledge supplied by Coin ATM Radar, this quantity grew by greater than 1,000 in 2020 alone—nearly all of which had been deployed within the US.
Conversely, the UK, Canada, Austria, and Spain have seen the variety of crypto ATM installations both stagnate or decline in latest months. Asia continues to be lagging behind when it comes to Bitcoin ATM installations, with simply 1.8% of all crypto ATMs present in Asiatic international locations, most of that are in Hong Kong.
Nonetheless, virtually each developed nation now has at the least one crypto ATM, together with virtually each nation in Europe and North America.
A extremely centralized system
Though there are at the least 7,044 crypto ATMs worldwide, these are managed by a relatively small pool of simply 554 operators, indicating the typical crypto ATM enterprise proprietor manages virtually 13 items.
The charges charged by these house owners vary however they are usually fairly excessive, with most ATMs charging 7% fee on cryptocurrency purchases and 10% on gross sales.
There are actually at the least 42 completely different Bitcoin ATM producers in operation, a lot of which ship machines worldwide, whereas some function solely specifically jurisdiction. Amongst these, Genesis Coin and Basic Bytes are answerable for producing virtually two-thirds of all crypto ATMs in existence—which price between $2,999 and $14,500 a pop. No surprise the charges are so excessive.