Cryptocurrency integration might be sooner than we might feel, with a huge surge in crypto ATMs being installed around the world. Statistics by Coin ATM Radar show that there are over 4,000 such machines already activated and operational worldwide.
At the moment, growth rate for cryptocurrency ATMs is 4.9 per day. Although the market is bearish, this did not stop the addition of crypto ATMs.
Close to 72% of crypto ATMs are found in North America, with 56% being installed in the US and 15% being installed in Canada. In Europe there are 23% and in Asia we find 2.6%. Africa is at the bottom of the list, with just 0.2%.
In Asia the main crypto ATM hub is Hong Kong. There we find 0.8% of the ATMs from all around the world. In Europe the main location adopting the ATMs is Austria, with 6.4%.
On January first 2018 there were 1,216 crypto ATMs installed in the US. Now there are 2,475, marking an over 100% growth. In California you can find the most machines, 473. Illinois is number two, having 250 crypto ATMs installed.
Most of the crypto ATMs around the world support BTC, 99.9%. 64.6% of the machines support at least one extra altcoin.
Statistics show the support for other cryptocurrencies in the ATMs as:
- Litecoin support – 59.5%
- Ethereum support – 49.3%
- Bitcoin Cash – 33.9%
- Dash – 17.9%
- Monero – 3%
- Dogecoin – 3%
- ZCash – 3%
The statistics that were released do not show anything about India. This should not come as a surprise since in November 2018 we saw developers for the first crypto ATM in the country arrested because of the ATM label. It was concluded that the device was not actually an ATM machine. It was a device that allowed the crypto users to go around banking channels.
Lamassu, Bitcoin ATM manufacturer, reported that the company had to move to Switzerland because of regulatory difficulties that appeared in other countries. According to the company, 15 banks rejected account application since the premise of the operation is to produce Bitcoin terminals.
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