Bitcoin ATMs double in numebr since January amidst crypto adoption surge

Bitcoin ATM

TL;DR Breakdown

  • Bitcoin ATM number doubles since January.
  • Rise in crypto price prompt increase in number of crypto ATMs.
  • Genesis coin leads as number one ATM manufacturer.

According to data by the crypto ATM monitoring site Coin ATM radar, the number of Bitcoin ATMs scattered around the globe has doubled since January 2021.

The monitoring platform pegs the total number of Bitcoin ATMs globally at 30,000 scattered in over 70 countries. Reportedly, the surge is a result of the rise in crypto prices experienced in 2021.

Coin ATM Radar reports that as at January 2021, 14,016 registered locations were supporting automated teller services for leading cryptocurrencies. As of Oct. 27, the number has hit a staggering 30,011.

The machines are spread across countries and operated by 628 operators, according to the tracking website. The United States leads with more than 26,000 locations, while neighboring Canada has a little less than 2,000, and the whole European Union hosts only 1,353.

Unfortunately, in certain areas, despite the rise in global crypto ATM number, its number has dropped 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 on Jan. 1 to 98 as of Wednesday.

Genesis Coin, leading Bitcoin ATM manufacturer

Genesis Coin, a Bitcoin ATM manufacturer, reportedly accounts for over 40 percent of the market, followed by General Bytes with more than 22 percent. Bitaccess is a close third with 14 percent of the currently operational devices. Other producers include Coinsource (6.1 percent), Bitstop (4.2 percent), Bytefederal (3.5 percent), and Lamassu (2.3 percent). Smaller companies have installed 7.2 percent of all registered crypto teller machines.

Crypto ATM maintainers globally
Crypto ATM maintainers globally

For firms that maintain these products, Bitcoin Depot, which has been expanding in the US, leads the charge of maintaining Bitcoin ATMs globally with 5,314 units (17.7 percent), while Coincloud is second with 4,028 (13.4 percent). Coinflip comes in third with 2,953 devices, or a little less than 10 percent of the world’s total.

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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