How Many Crypto ATMs Are Truly There?

It was recently reported by a reputed news source, that there are as of now, a total of five thousand (5,006)cryptocurrency-dispensing ATMs across the globe.

Stats have revealed that per day, approximately six new Bitcoin ATMs were being erected over the past month or so. The market for crypto ATMs is stronger than ever, in the west than anywhere else, with the United States Of America taking the lead in the total number of crypto vending machines. The country has more than thirty-two hundred (3200) Bitcoin ATMs. Second in the race, is Canada, the country where the first ever crypto vending machine was erected, with over six hundred and eighty (680) crypto ATM points.

With regards to Mexico and other nations in the area, North America is home to seventy-four per cent (74%) of all such ATMs in the world. A more detailed study and analysis reveal that there was a boom in ATM installations after crypto prices tumbled following the end of 2017. The dominant firm in the crypto ATM installation business has been General Bytes, which has raised fifteen hundred and fifty (1550) ATMs, followed by Genesis Coin, which has covered almost fifteen hundred (1497) locations. Lamassu, which has raised ATMs in a little short of four hundred and fifty (439) locations, comes third. This new milestone comes in the wake of increasingly pessimistic public attitudes surrounding these machines, owing to their facilitation of crypto frauds.

In Australia, these machines happen to be the most common medium through which scam payments occur. Crypto machines have also borne clampdowns from state authorities. In 2018, India’s first cryptocurrency ATM had been seized by the authorities owing to regulatory restrictions. And in the same year, Russian authorities took control of twenty-two (22) machines following instructions by the country’s Central Bank. The attitudes back in Canada, where the first such machine had been erected, has also been turning negative. Earlier on in June, Vancouver’s mayor pushed for a ban on these machines with the goal of cutting down crypto related malpractice.

Rishma Banerjee

Rishma is currently pursuing a bachelor’s degree in International Relations and has a special place in her life for sifting through all sorts of random trivia, thank you very much.