Research: Roughly 5 new crypto ATMs are being installed every single day


According to recent research conducted by crypto industry statistics aggregator, Coin ATM Radar, the number of crypto ATMs has crossed the 4,000 mark. Despite the bear market, 4.9 new crypto ATM Machines are being installed everyday.

Currently, there are a total of 4167 crypto ATMs available worldwide.

Nearly 71.8% of crypto ATMs are located in:

  • North America (56% in the United States and 15% in Canada)
  • 23% in Europe, 2.6% in Asia
  • 1.3% in Oceania
  • 1.1% in South America
  • .2% in Africa.

According to data, in January last year total crypto ATMs in the United States were 1,216 and now the number has reached to 2,475. In just a year, 1,259 new crypto ATMs are installed.

California has the highest number of ATMs with a total of 473 ATMs and Illinois is on the second number with 250 ATMs.

In Asia, Hong Kong has most of the crypto ATMs which is 0.8% while in Europe, Austria has 6.4% ATMs followed by the United Kingdom, 4.8%.

Surprisingly, India, one of the major economies in the world do not have any crypto ATM.

A majority of crypto ATMs supports:

  • Bitcoin – 99.9%
  • 64.6% ATMs support one or more altcoins
  • 59.5% crypto ATMs support Litecoin (LTC)
  • 49.3% support Ethereum (ETH)
  • 33.9% support Bitcoin Cash (BCH)
  • 17.9% support Dash.
  • Other cryptocurrencies such as Monero (XMR), ZCash (ZEC), and Dogecoin (DOGE) each are supported by 3% or less.

The Coin ATM Radar report also stated that because of the regulatory difficulties crypto ATM manufacturer Lamassu has relocated its operations to Switzerland.

Lamassu is the third largest manufacturer of crypto ATMs while Genesis Coin and General Bytes are at the first and second place respectively.

Moving forward, I believe it’s quite important for us to see the usage data behind these crypto ATM machines.

 


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Samuel Tan

Samuel Wan has been an analyst and cryptocurrency evangelist for the last few years. Previously he worked as a consultant for a Big 4 consulting firm and is passionate about how blockchain will make an impact in the world. You can contact Sam at s@cryptomenow.com

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