Even though this year was a hard one for crypto, when it comes to price fluctuations, the number of crypto’s ATMs in the world doubled so far in 2018, and now, there are over 4,000 crypto ATMs which are spread throughout 76 countries worldwide, also being operated by more than 520 organizations.
The increase of crypto ATM machines
The prices of cryptocurrencies can be up and down quicker than a manic depressive, but broader adoption gets even closer. According to the figures that come from data published by the crypto analytics firm Data Light, the number of crypto ATMs has doubled in 2018, despite the prolonged bear market which saw the crash of the price of most of the cryptocurrencies. Data Light also claimed that 6 crypto ATMs have been installed per day.
One of the main ingredients of broader crypto integration, as well as appropriation, is the availability the masses, and that is what the increase of the ATMs shows. Data Light also claimed that out of all the 4,051 crypto ATMs almost all support Bitcoin, while over half of them support Litecoin and close to 2,000 of them support the Ether of Ethereum. Bitcoin cash is going to be the following most widely supported crypto, while privacy-centric cryptocurrencies such as Dash, Monero, and ZCash will be after it. Some of them also support Dogecoin.
As the shared graph shows, the vast majority of the ATMs have been installed in the first couple of months of this year, when the prices of most of the cryptocurrencies have been relatively high after the monumental price hike back in December of last year, compared to the prices of today. Since the start of 2014, the number of the crypto ATMs only dropped in November 2015.
The number of ATMs in U.S., UK, Central Europe and others
There is another great source to check out crypto ATM stats, and it is called Coin ATM Radar. On their map, they have listed a total of 4,085 crypto ATMs worldwide across 76 countries, most of them located in the United States.
According to the map, there are 1,258 BTC ATMs in the United States, and over 1,000 which support Bitcoin Cash or BCH. The combined total in North America adds up to 3,157 machines, as the website states.
On the other hand, the UK has over 200 machines while Central Europe comes in at 750. Also, South America is no slouch in the crypto ATM stakes, and it comes with 65 devices. Australia is slightly lagging behind South America with 54 machines.
More people interested in cryptocurrencies
These machines usually have high user fees, as some charge users a fee up to 8%, to buy cryptocurrencies with fiat currency. There are some different types of these ATMs, as some of them let users buy and sell crypto, while the others only let them buy.
The crypto ATM market is actually expected to grow to almost $145 million by 2023, as it is forecasted to have a compound annual growth rate or CAGR of about 54.7% for the following five years.
This increase in the crypto ATMs in this year proves that more people than ever before start similarly seeing crypto as fiat currency, which is an excellent look for the industry.