Bitcoin ATM locator, Coin ATM Radar has recently revealed that the number of cryptocurrency ATMs continue to rise, despite the drops in prices. In just the month of July 2018, 187 new ATMs have been installed and 132 closed, which results in a total net growth of approximately 1.6 per cent.
An in-depth analysis was provided in which Coin ATM Radar compared the growth within a five-year timespan, namely from 2014 to 2018. In 2017, the number of Bitcoin ATMs have grown from 1000 to approximately 2000, which is equivalent to a 100 percent growth. As of today, the number of bitcoin ATMs established globally sits at a firm 3510, which has grown by 75.5 percent.
When one considers the breakdown by country, the U.S takes the lead, as it supports a total of 2133 ATMs, followed by Canada’s 604, United Kingdom’s 167, Austria’s 148, and Russian Federation’s 72. Most of the established ATMs only support five cryptocurrencies, which include the obvious Bitcoin [BTC], and various altcoins like Bitcoin Cash [BCH], Ethereum [ETH], Dash [DASH], and Litecoin [LTC].
Coin Gape also noted that fees vary during purchases and sales. In particular, the bitcoin ATM charges an average fee of 8.49 percent, while the average buy fee sits at 9.26 percent and sell fee at about 6.79 percent.
Finally, the top ten Bitcoin ATM manufacturers have been revealed based on the number of locations to date, which include Genesis Coin (1165), General Bytes (920), Lamassu (390), BitAccess (210), Coinsource (195), Covault (119), BitXatm (70), Coinme (66), Orderbob ATM (46) and RusBit (43).
At the time of writing, Bitcoin sits at a third of its 2017 price, at approximately USD$7,144. What is your take on the statistics provided by Coin ATM Radar? Why do you think the number of ATMs is exponentially growing? Share your thoughts below!