Opinions

Report: An Estimate of 5 Crypto ATMs Installed Worldwide Daily

Cryptocurrencies have been a topic of interest for quite sometime now and have the people split with their opinions on its future, the crypto enthusiasts believe that they are here to stay while the critics view them as the latest fad, that will slowly die down. However, the news seems to be in favor of the former, despite the fact that the cryptocurrency charts have taken quite the pounding recently, the number of crypto Automated Teller Machines (ATMs) have gone up worldwide.

According to the data from industry statistics aggregator, Coin ATM Radar, the number of crypto ATMs installed across the world has crossed the 4,000 mark. The Coin ATM Radar’s gauge scale indicated on Jan. 10, that the rate of growth was 4.9 new ATM’s installed everyday. Thus tipping into the highest speed class in spite of the persistent bearish market actions.

Crypto ATM installation speed. Source: coinatmradar.com

There are a total of 4167 crypto ATMs worldwide and if we break it down to the continents, then the numbers go something like this; 71.8 per cent are located in North America, 56 per cent have been installed in the United States and 15 per cent have can be found in Canada. Furthermore, 23 per cent are present in Europe and 2.6 per cent are in Asia. While, 1.3 and 1.1 per cent are in Oceania and South America respectively, and the remaining 0.2 per cent are located in Africa.

If we speak of Asia in particular, Hong Kong has the most share of crypto ATMs, accounting for 0.8 per cent of machines globally. Meanwhile in Europe, Austria holds 6.4 per cent of the ATMs, and is closely followed by the United Kingdom with 4.8 per cent of ATMs.

The data also revealed the number of ATMs in the United States went up from 1,216 on Jan. 1, 2018 to 2,475 as of 10th Jan 2019. Which means there were 1,259 new ATMs installed in just over a year. Amongst which California had the highest number, with a total of 473 machines — followed by Illinois with 250.

It is true that the majority of 4167 crypto ATMs across the world support the most popular Bitcoin (BTC); 99.9 per cent to be exact, which is equivalent to 4,162. On the other hand only 64.6 per cent support one or more altcoins.

These break down to 59.5 percent support for Litecoin (LTC), 49.3 percent support for Ethereum (ETH) and 33.9 percent support for Bitcoin Cash (BCH). Dash (DASH) is supported by 17.9 percent of ATMs, while Monero (XMR), Dogecoin (DOGE) and ZCash (ZEC) are each supported by 3 percent or less.

Lets see what the rest of the 2019 holds for cryptos, and crypto ATMs. Will they grow in number? Or will they shrink down? Time will tell.

Abeer Anwaar

Abeer holds a Bachelors degree in Media studies and covers blockchain startups for BlockPublisher. An optimist, excels in the art of the written word and swears by the joy of all things sweet. Contact the editor at editor.startups@blockpublisher.com

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