Jan 11, 2020 02:30 UTC
Jan 11, 2020 at 02:30 UTC
The US Leads the Bitcoin ATM Industry With 66% of All ATMs
As indicated by the recent stats, the US reportedly has 66.2% of all Bitcoin ATMs worldwide, where entire Asia has just 2.1% in comparison.
There have been talks about blockchain adoption in East Asia in the last couple of months. However, the entire continent is severely behind whenever it is about something as basic as Bitcoin ATMs.
The US Is Leading The World So Far
As per the LearnBonds.com, the US, as of January 2020, is the leader in Bitcoin ATMs, and it doesn’t look like it has any plans to go down anytime soon. The US alone has 66% of all of these ATMs globally. The cherry on the cake, North America has 77.3% expanding the scope even further.
No doubt, the expansion of Bitcoin ATMs has been staggering. In 2019, 2,351 new Bitcoin ATMs, have been installed worldwide. That is a hike of over 50% in just the past year alone. Evidently, they have been lucrative. Else, the expansion wouldn’t have been so drastic.
As compared to the US, Asia has been woefully falling behind. The entire continent has only 133 Bitcoin ATMs, which makes it only 2.1% of the total amount of machines worldwide.
It is said that Asia would lead the use of Blockchain in our day-to-day lives. That is the reason why a lot of crypto projects have decided to explore their footing there. Furthermore, more blockchain-centric conferences were in Asia in the past year than ever before. Still, it looks like the region is lagging behind on this basic metric.
Are Bitcoin ATMs Necessary?
It is yet to be seen whether such ATMs are even necessary for widespread adoption. Just like those old and outdated concepts being applied to the new technologies, ATMs too have many times been compared to crypto-related debit cards. Asia probably doesn’t even need Bitcoin ATMs to be a blockchain powerhouse.
According to the reports, most of East Asia has been going cashless with an increasing reliance on mobile payments in the last couple of years. The future of cryptocurrencies looks like it will be mobile-driven rather than involve old-fashioned Bitcoin ATMs. Thus, it could be like Asia isn’t actually behind whenever it is about the adoption of Bitcoin ATMs.