People are now getting immediate access to cryptocurrency, as there are many ways to buy and sell digital currency. Cryptocurrency ATM is the latest form to exchange cash with cryptocurrency instantly. According to an ATM locator firm, more than 7,000 ATMs machines have been installed so far, for Bitcoin and other digital currencies.
First Bitcoin ATM came into existence in 2013, which laid the foundation of the ATM era for cryptocurrency. The first ATM was known to launch by Robocoin, which later on closed its operations in 2015. The machine was installed in a coffee shop to exchange Bitcoin with cash. The inauguration day of the first-ever ATM was a historic day for the digital world as people transacted BTC worth $10,000.
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Coin ATM Radar
Coin ATM Radar, known for providing Bitcoin ATM map, revealed that the total number of crypto ATMs has reached to 7,014 to date. These are not only supporting Bitcoin but the list also includes other cryptocurrencies: Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and Dash (DASH).
Per the Coin ATM Radar’s data, there are nearly 42 manufacturers across the world for producing cryptocurrency ATMs, installed worldwide. And 11.7 machines are installing per day.
Recently, the Bitcoin ATM manufacturer, Bitstop, partnered with one of the largest malls of the US called Simon Malls. According to the partnership’s plan, five machines will be installed in five different malls.
Miami-based Bitstop also announced to place an ATM at Miami International Airport. The company is making progress in terms of producing machines. The company, at the time of the press, is holding 91 machines at different locations. However, Genesis Coin is holding the position of top manufacturer with ATMs installed in 2,348 different locations across the world.
More ATMs after Crypto Regulation
In November 2019, the figure was at 6,000. This rapid increase in numbers shows that cryptocurrency is gaining the attention of masses speedily. According to the Ripple CEO, 2020 is the year of crypto regulation as various governments are devising policies for crypto’s usage. Once the regulatory bodies accept digital currency, the digital assets will boom replacing the fiat currency.