- In light of recent bullish signs, the number of Bitcoin ATMs worldwide has gone up by at least 5 times
- This translates to 5 new Bitcoin ATMs opening up each day
- USA still leads the chart by boasting at least 2200 of the 5000+ ATMs
In light of the current crypto-climate, the number of Bitcoin ATMs world wide as estimated by CoinATMRadar has reached 5,457. This number is up 500% since September 2016. As per the data accounting for the number of Bitcoin ATM installed from 2016 to 2019, a total of 757 ATMs were installed as of 2016 when compared to the several thousand installed in 2019 alone.
A Bitcoin ATM is much like the traditional ATM that dispenses fiat currencies where you use your debit card to withdraw USD, EUR, INR etc. A notable aspect of these ATMs is that they allows you to buy/sell bitcoins anonymously. No KYC or AML is required to transact using a Bitcoin ATM which means it is actually a very good way to secure your identity and privacy.
Increasing competition in the BTM (Bitcoin ATM) market is likely to reduce the fees charged to users, which tend to be noticeably higher than online alternatives.
To complement the news, Bitcoin ATM start up Coinme raised $1,500,000 to set up ATMs all over the world. We are bolstered by this vote of confidence by Ripple and Blockchain Finance Fund in our vision and the exciting opportunity to provide access to digital currencies for millions of people around the world,” Neil Bergquist, co-founder and CEO of Coinme, said in a press release.