Tanya Abrosimova
Independent Analyst
- The number of bitcoin ATMs has been growing at record speed.
- The USA and Canada are the world's leaders by the number of installed crypto ATMs.
The number of bitcoin ATMs installed around the world continues to grow and has recently reached a new record level. So, according to CoinATMRadar, there are currently 6004 machines, with more than 65% of them located in the United States.
In November alone, 108 new Bitcoin ATMs appeared on the CoinATMRadar map; on average, 11 new machines are installed daily, which is the highest growth rate this year.
Of the total number of cryptocurrency ATMs, 3924 are located in the United States, 653 are in Canada. The third and fourth places go to Great Britain (272) and Austria (189) respectively, Spain takes the fifth place with 86 ATMs. Russia is in the 9th place (62 ATMs), Ukraine has 19 Bitcoin ATMs and sits on the 20th place.
In general, Europe accounts for 20% of all installed bitcoin ATMs; the share of the Asian region does not exceed 2% of the total amount, despite the great popularity of cryptocurrencies in the region/
The number of installed Bitcoin-ATMs has grown by almost one thousand since June. Also, it is worth noting that only 35% of ATMs marked on the CoinATMRadar map, allow users both to buy and sell cryptocurrencies. The remaining two-thirds only allow purchasing of bitcoin.
Despite the rapid growth of the market, there are some vocal critics of crypto ATMs. So, earlier this week, the United States Internal Revenue Service (IRS) announced that it is conducting a joint investigation with law enforcement agencies about the possible use of bitcoin ATM for tax evasion and money laundering.
According to the IRS, ATM users must undergo identity verification, before they are allowed to purchase cryptocurrency.
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