Over 20,000 Bitcoin ATMs Installed in a Year

The number of cryptocurrency ATMs around the world has grown exponentially in 2021, with over 20,000 new installations made since last December. That’s more than the total of all crypto teller machines put into operation in the previous seven years.

Close to 34,000 Crypto ATMs Available Globally

ATM locations offering users options to buy and exchange cryptocurrencies with fiat money are increasing at an unprecedented pace. Data compiled by Coin ATM Radar shows that their number towards the end of 2021 is nearing 34,000.

In a year that saw crypto market all-time highs, over 20,000 new devices have popped up globally. According to the installations growth chart updated by the tracking website, bitcoin ATMs were fewer than 13,000 in December 2020 — that’s all ATM locations registered since October 2013 — while 12 months later they exceed 33,900.

Crypto teller machines can be found in almost any corner of the planet but their spread is still quite concentrated. Around 30,000 of all BATMs (bitcoin ATMs), approximately 90% of the gross figure, are running in the U.S. Its northern neighbor, Canada, is a distant second with a little over 2,200 machines.

Bitcoin-friendly El Salvador is already among the leaders with its 205 machines, overtaking EU countries such as Spain, which has less than 200, and Austria with its 142. As of Dec. 29, the whole of Europe has only 1,384 cryptocurrency ATMs, lagging behind key markets in North America.

A number of companies now manufacture automated teller machines supporting cryptocurrencies. The biggest players in the market are Genesis Coin with almost 14,000 devices, General Bytes with more than 7,500, and Bitaccess with close to 5,000. Coinsource and Bitstop, with less than 2,000 each, complete the top five.

At least 6,000 businesses maintain crypto ATMs in different parts of the world, with the 10 largest operators running 70% of them all. The largest companies in the sector are Bitcoin Depot, which holds a fifth of the market with over 6,600 machines, followed by Coincloud (over 4,600), and Coinflip (almost 3,500).

The teller machines support various cryptocurrencies and are either one-way or two-way devices. The latter offers users the ability not only to buy, but also to sell their digital coins. Most BATMs provide an opportunity to purchase bitcoin (BTC), and many offer other major coins such as bitcoin cash (BCH), ether (ETH), and litecoin (LTC).

Do you expect the number of bitcoin ATMs to continue to grow exponentially in 2022? Let us know in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

Image Credits: Shutterstock, Pixabay, Wiki Commons