As cryptocurrency awareness and demands continue to grow gradually, cryptocurrency ATMs are increasingly being installed around the world. The number of installed cryptocurrency ATMs surpassed an 8,000 mark in less than two months, after reaching 7,600 in April.
Cryptocurrency ATMs hits 8,208 installed globally
According to CoinATMRadar, a website that monitors installed crypto ATMs globally, there are now 8,208 cryptocurrency ATMs installed in 77 countries. The rate of these machines installation across the world increases as time advances, which probably points towards a growing interest in Bitcoin, and other digital currencies.
Similar to regular ATMs, these machines enable users to buy and sell cryptocurrencies faster and conveniently. As per CoinATMRadar, some of the cryptocurrency ATMs support a ton of digital currencies, such as Bitcoin Cash (BCH), Tether (USDT), Litecoin (LTC), including privacy coin Monero (XMR), and others.
Top 10 countries with the highest ATMs installations
The top ten countries with the highest cryptocurrency ATM locations are as follows: 6243 in the United States, 787 in Canada, 271 in the United Kingdom, 155 in Austria, 82 in Spain, 78 in Switzerland, 66 in the Czech Republic, 59 in Poland, 58 in Colombia, and Italy.
Although this increasing number of ATMs globally, might be seen as a welcome development for the cryptocurrency enthusiasts, many authorities think these machines are facilitating illegal transactions. Some countries like Canada might eventually ban the use of these machines, following an early report in June.
Cryptopolitan reported that the mayor of Vancouver, Kennedy Stewart, in Canada suggested the prohibition of these machines across many cities in the country, amid the surging cases of money laundering, which is reportedly associated with digital currencies. Stewart said the machines serve as catalysts for illicit money transactions.