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In today’s global financial market, being adopted and embraced by mainstream audiences necessitates accessibility and availability – and cryptocurrencies are not different in that regard. And while in many aspects cryptocurrencies still falter, at least in one area there seems to be a steady, continuous growth: Cryptocurrency ATMs.
According to CoinATMRadar.com – a website that tracks cryptocurrency ATMs around the world – the number of active crypto ATMs has jumped beyond 3,500 worldwide. That’s a big exponential leap of approximately 175% as the number of crypto ATMs at the beginning of the year was just less than 2,000.
In terms of geography, nearly three-quarters (74%) of all crypto ATMs are situated in North America, while Europe is second with just above fifth (21%) of all ATMs. The U.S. is clearly the country that dominates the charts with almost 60% of crypto ATMs globally (around 2,000 ATMs), Canada is second with about 15% (around 530 ATMs) and the U.K. is third with nearly 5% (170 ATMs). CoinATMRadar.com notes that in July the very first crypto ATM was installed in Armenia, Russia added 12 new ATMs (+21.4% increase) and Colombia added 7 (+70%).
The most popular crypto ATM manufacturers are Genesis Coin with 34% of all ATMs around the world, General Bytes with 27%, and Lamassu with 11%. The average fee on a crypto ATM is 8.71% (9.75% buy fee, 6.38% sell fee). Bitcoin is the most popular cryptocurrency in crypto ATMs as it populates virtually all of them, Litecoin is second with availability in nearly half, and Ethereum is third with support in almost third of all ATMs. CoinATMRadar.com calculates that every day 8.4 new crypto ATMs are installed at some place in the world on average.
If so, the number of cryptocurrency ATMs is certainly rapidly rising, but 3,500 is still very far from the approximate 3.5 million regular ATMs currently located all over the globe.