While bitcoin has recovered value substantially in the past 30 days, rising last week above $10,000 in trading, adoption is also showing some encouraging signs based on the growth in bitcoin ATMs in the US and abroad.
Bitcoin Depot recently reached 545 bitcoin ATMs in operation in the US, making it the largest network in the world with 8% of the estimated 6,775 global installations.
“The expansion of Bitcoin ATMs increases acceptance and use of bitcoin for financial transactions and makes everyday transactions easier for everyone,” said Brandon Mintz, CEO of Bitcoin Depot. “With more than 500 ATMs across 30 states and more than 100 of those right here in our own backyard, we are significantly outpacing others in the industry. We are excited about the impact this network has had and will continue to have, in creating additional awareness of our industry and easing the access to digital finance for underbanked communities around the United States.”
Bitcoin Depot ATMs allow users to buy Bitcoin, Litecoin, Ethereum, and Bitcoin Cash instantly at hundreds of locations across the globe in transactions that are fast, easy, and secure.
Global cryptocurrency ATM growth
With the growing acceptance and use of bitcoin transactions, Bitcoin ATMs have made cryptocurrency a popular form of payment in certain parts of the United States, including in major Bitcoin Depot ATM hubs such as California, Florida, and Georgia.
According to CoinATMRadar.com, an estimated 6,775 cryptocurrency ATMs are presently (Feb 11, 2020) installed around the world.
More than two-thirds (70.9%) or 4,807 cryptocurrency ATMs were installed in the US, followed by Canada (760), UK (307), Austria (171), Switzerland (81), Spain (81), Czech Republic (72), Greece (68), Germany (63), Poland (55), Hong Kong (54), Italy (50), Russian Federation (49), the Netherlands (44), Romania (43), Hungary (42), Slovakia (40), and Australia (20).
US states with the largest number of cryptocurrency ATMs include California (765), Florida (509), Texas (348), Illinois (322), New Jersey (284), Georgia (284), and Michigan (228).
If you’re traveling and you’re looking for the cities with more than 50 cryptocurrency ATMs, head out to Los Angeles (470), Chicago (282), Atlanta (265), Miami (240), Detroit (216), Houston (184), Newark (168), Dallas (160), Philadelphia (119), Las Vegas (115), Phoenix (106), New York (89), San Francisco (89), Boston (87), Tampa (76), Orlando (74), San Charlotte (69), Denver (68), Sacramento (66), Diego (64), Raleigh (63). If you’re in DC, there are 30 ATMs waiting for you.
Biggest bitcoin ATM operators
According to CoinATMRadar.com, the 10 largest bitcoin ATM operators run 2,911 machines or 43% of those installed globally.
The five largest operators and their number of machines installed include Atlanta-headquartered Bitcoin Depot (545), Coinflip (453), CoinCloud (443), Coinsource (272), and Rockitcoin (257).
What’s interesting in looking at the distribution of bitcoin ATMs across the US, is that the high-tech cities where you’d expect the biggest distribution aren’t necessarily where you find the largest number of ATMs.
The availability of crypto ATMs in New York, San Francisco, Seattle, and other aspiring high-tech hubs is surprisingly fewer than in other large US cities such as Los Angeles, Chicago, and Atlanta.
“Bitcoin ATMs are one of the most constant sources of growth within the Blockchain space. Where other company categories were stifled by downturns in price during the last twenty-four months, our segment has only grown larger and more popular across the global community,” Mintz said. “Bitcoin ATMs are quickly becoming the primary source for casual crypto access due to their simplicity and ease of access.”
As China, the UK, Switzerland, Hong Kong, and other governments explore the potential for cryptocurrency in financial transactions and trade, the future is looking bright for the early entrants to the marketplace.
LET’S CONNECT