- Most of the bitcoin ATMs are located in North America.
- Many countries are starting to tighten regulations for ATM operators.
The number of bitcoin ATMs globally has reached an important psychological mark of 10,000. Installation of the first BTC machine took place seven years ago in Canada.
The company AksjeBloggen has calculated their total number at present and noticed that it has been showing strong growth lately.
According to calculations, there were about 8,000 BTC terminals in the world by summer. If at the beginning of September, the figure is, according to AksjeBloggen, 9,680, then it means that it is showing an increase in annual terms of 167%.
By mid-September, the crypto community has already received new significant statistics. According to CoinATMRadar data published on September 16, the number of bitcoin ATMs in the world has reached 10,000.
It took the crypto industry about seven years to reach this anniversary milestone. The first terminal was installed in Vancouver, Canada at the end of 2013. By comparison, it took the banking sector nine years from the first traditional banking ATM to the introduction of the 10,000 terminal, according to CoinATMRadar.
Also noteworthy is the aggressive acceleration in the growth of the number of bitcoin ATMs in recent years. If in the first 3.5 years only a thousand terminals appeared in the world, then in the next 3.5 years, about 9,000 such ATMs were installed.
ATM growth rate. Source: CoinATMRadar
Is it so significant?
Bitcoin ATMs represent one of the clearest ways to use blockchain technology in everyday life. Their presence could potentially contribute to more active mass adoption of cryptocurrencies. Indeed, modern ATMs support transactions not only with bitcoin, but also with Bitcoin Cash, Ethereum, Dash, and Litecoin.
Not all members of the industry share optimistic views on the subject. There are even those who doubt their usefulness. There is one more factor that becomes the reason for concern and it refers to the authorities and legal regulation of the sphere. For instance, the regulation bodies paid attention to them within the framework of anti-money laundering campaigns thinking that cybercriminals can use this method to convert coins to fiat money or just common users can use this way easily avoiding KYC and tax procedures. Therefore, many countries tighten the rules in the segment of crypto-fiat transactions thus preventing its rapid development. Perhaps in Asia, they believe that blockchain should develop in a different direction, and the very concept of ATMs is already outdated.