Starting with a single machine in 2013, Bitcoin has significantly grown its ATM numbers over the last nine years. Globally, the number of Bitcoin ATMs has risen to 38,828, as of 30 October 2022, according to coinatmradar.com, a website that tracks crypto atm installation and growth.
Country-wise data on the installation of Bitcoin ATMs show the United States leads with almost 88% market share. The country maintains a record 33,901 installations, followed by Canada (2,566) as of 31 October 2022. The countries that come a distant third and fourth are Spain (215) and El Salvador (212), respectively.
Bitcoin’s first ATM was made available to the public on 29 October 2013. It was installed at a coffee shop in downtown Vancouver, Canada. The crypto ATM operated by Robocoin recorded 348 transactions in its first of operations. The total transactions for the day amounted to $100,000.
The first crypto ATM company called it quits in 2015, but other companies took over. The space is now dominated by other crypto ATM manufacturers like Genesis Coin, General Bytes, Lamassu, and BitAccess.
The broader crypto ATM industry scenario
A report by ResearchandMarkets.com, the world’s largest market research store, has projected that the crypto ATM industry will reach $472 million by 2027. At present, the industry is at a relatively humble $46.45 million.
The installation of crypto ATMs saw a slowdown early this year. Since then, things improved a little from June to August, but in the following months, the net global crypto ATMs again fell for the first time. A massive number of machines were removed from the global network at the time, with a huge chunk from the US. So the recent development indicates a recovery.
While not the only crypto to being exchanged, Bitcoin remains the most popular crypto to be transacted via ATMs globally. Litecoin and Ether, the report reveals, are pretty popular too. In fact, just earlier this month, the issuer of USDT, Tether, announced plans to make its token available at over 24,000 ATMs across Brazil.
