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- The installation rate of crypto ATMs slightly decreased in August and September.
The first Bitcoin ATM came into existence On 29 October 2013, which was started in a coffee shop in downtown Vancouver and the automatic teller machine(ATM) was operated by Robocoin.
The first week after the installation of a bitcoin ATM, it recorded about 348 transactions worth approximately $100,000.
According to data from Coin ATM Radar while framing this article 38825 crypto ATMs are functioning globally.
It is being observed that in the last few years, the use cases of crypto and Bitcoin ATMs have been increasing rapidly; mostly, the functioning is seen in Europe and Greece.
The United States is operating the most number of crypto ATMs globally it is holding around 88% of crypto ATMs globally.
In October approximately 205 new crypto ATMs are installed globally and around 129 of them are installed in the United States.
Data from the Coin ATM hub says that crypto ATMs in Canada are growing at a very slow speed hence it is the second country to have the largest functioning crypto ATMs globally.
Following Canada, Spain is ranked third with 259 crypto ATMs installed in the country.
India is having only two crypto ATMs installed in the country among both of them one is installed in Nehru place New Delhi and the other one is installed in Gurugram.
From December 2021 to till date crypto market is struggling hard as it undergoing is its toughest time and market volatility is troubling cryptocurrencies and all crypto products.
An impressive hike is being seen in the installations of crypto ATMs in Europe, and from the start of 2022 to till date 5% hike has been seen. If we compare years wise 10% hike is seen in the last year, and last year at the same time, the number of ATMs was around 1,324.
According to data from CoinMarketCap while writing this article Bitcoin is trading at $ 20,801.72 with a 24-hour trading volume of $33,046,704,737.
As per reliable data sources, Bitcoin is the most transacted cryptocurrency globally using crypto ATMs.Mostly, the functioning is seen in Europe and Greece. The country has a total of 66 ATMs/Tellers, among which 64 ATMs are functional, and most tourists use these ATMs.
European Country Austria is among the most crypto ATMs holder, and at the time, there are around 134 crypto ATMs, including the ATMs of all sorts of cryptocurrency.
Altcoins are the second highest supported digital asset by crypto ATMs and Litecoin and Ether is
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
