Bitcoin ATMs, also known as BTMs, are automated kiosks that allow users to buy or sell bitcoins using cash or debit cards. These machines are becoming increasingly popular as more and more people turn to cryptocurrency as a form of investment and payment. So, how many Bitcoin ATMs are there in the world?
According to Coin ATM Radar, a website that tracks the location of Bitcoin ATMs, there are currently around 24,000 Bitcoin ATMs in the world as of June 2021. This figure has grown significantly over the past few years, as the number of Bitcoin ATMs was less than 1,000 in 2014.
The majority of these machines are located in North America and Europe, with the United States having the most Bitcoin ATMs at around 18,000. Canada follows with over 1,400 machines, while the United Kingdom has around 2000 BTMs. Other countries with significant numbers of Bitcoin ATMs include Austria, Spain, and Switzerland.
Bitcoin ATMs are also becoming increasingly popular in developing countries such as Colombia, where there are around 60 BTMs, and Nigeria, where there are over 50 machines. These countries often have limited access to traditional banking services, making Bitcoin ATMs a convenient way for people to access and use their cryptocurrencies.
The growth of Bitcoin ATMs can be attributed to several factors. Firstly, cryptocurrency is becoming more widely accepted as a form of payment. Many businesses now accept Bitcoin as a payment method, and some even have their own Bitcoin ATMs in-store.
Secondly, Bitcoin ATMs offer a more convenient way for people to buy and sell cryptocurrencies compared to traditional exchanges. With a Bitcoin ATM, users can quickly and easily buy or sell bitcoins without needing to go through lengthy verification processes.
However, Bitcoin ATMs are not without their drawbacks. The fees for using a Bitcoin ATM can be higher than those for traditional exchanges, with some machines charging up to 10% per transaction. Additionally, Bitcoin ATMs are not regulated, meaning users may be at risk of scams or fraud.
Despite these drawbacks, the popularity of Bitcoin ATMs is expected to continue to grow. As more people adopt cryptocurrency as a form of investment and payment, there will be an increasing demand for convenient and accessible ways to buy and sell bitcoins.
In conclusion, there are currently around 24,000 Bitcoin ATMs in the world, with the majority located in North America and Europe. The growth of Bitcoin ATMs can be attributed to the increasing acceptance and adoption of cryptocurrency, as well as the convenience they offer compared to traditional exchanges. While there are some drawbacks to using Bitcoin ATMs, they are expected to remain a popular way for people to buy and sell bitcoins in the future.