However, over the years they also became enormously popular in countries with volatile financial markets whose citizens require a quick exchange of their country’s currency for a digital asset not tied to or regulated by any government.
In December 2017, there were 1,932 BTMs in the world, revealed Coin ATM Radar and Statista data. By the end of 2018, this figure soared to 4,009, a 107% jump in a year. The number of Bitcoin ATMs operating around the world continued growing in 2019 and hit 5,795 in December.
However, 2020 has witnessed a surge in the number of ATMs supporting digital coins, with 3,885 new BTMs operating worldwide between January and September, a 67% increase in nine months.
The Number of BTMs in The United States Soared by 127% in a Year
Analyzed by geography, the United States represents the leading crypto ATM market, with 78% of all Bitcoin ATMs globally. The Coin ATM radar data also revealed the number of BTMs operating in the United States significantly increased in the last year. In September 2019, the US citizens could use 3,332 crypto ATMs all around the country. Statistics show the number of BTMs in the United States hit 7,567 in September 2020, a 127% jump in a year.
Canada, ranked as the second-largest BTM market globally, with 869 Bitcoin ATMs as of September. The United Kingdom, Austria, Spain, and Switzerland follow, with 278, 150, 106, and 81 BTMs, respectively.
Statistics also indicate Genesis Coin is the leading Bitcoin ATM manufacturer globally, with a 35% market share and 3,406 BTMs operating worldwide as of September. General Bytes ranked as the second-largest manufacturer in the world with a 29% market share and 2,893 BTMs. BitAccess and Coinsource follow with 923 and 595 crypto ATMs, respectively.