3,000 Bitcoin ATMs Were Installed Around The World This Year

3,000 Bitcoin ATMs Were Installed Around The World This Year

According to Coin ATM Radar, the number of Bitcoin ATMs worldwide was 34,340 on January 1; however, that figure has increased by about 3,000 since then, with 37,338 Bitcoin ATMs at the time of writing on May 10.

Since the beginning of 2022, a total of 2,998 Bitcoin ATMs have been installed, at an average of 23 every day. Given that Coin ATM Radar does not track all Bitcoin ATMs worldwide, the real figure might be far higher.

Another analysis found that about 20,000 additional Bitcoin ATMs will be installed in 2021, with more than 50 new machines being activated every day.

The growing number of Bitcoin ATMs in operation indicates that the machines are becoming more important as cryptocurrencies acquire wider recognition throughout the world. This type of financial machine has been installed in the United States in particular.

Bitcoin ATMs are popular among cryptocurrency investors who want to take advantage of the asset without having to go through the time-consuming KYC requirements that most cryptocurrency trading platforms need.

Furthermore, ATMs are increasingly being utilized to assist with Bitcoin payment processing. It’s worth noting that more companies are positioning themselves to benefit from cryptocurrency by allowing customers to pay in Bitcoin.

Companies are marketing two-way ATMs, which include a dual functionality feature that allows customers to buy and sell cryptocurrencies at the same time. The multifunctionality features provided on these machines are driving up demand for two-way ATMs.

A Bitcoin ATM was installed in the Senate building in Mexico City on April 26, with the support of many politicians, notably Miguel ngel Manseira, coordinator of the Party of Democratic Revolution (PRD) parliamentary party.

Mexico already has 13 cryptocurrency ATMs in Mexico City, Tijuana, Cancun, Guadalajara, Culiacán, San Miguel de Cozumel, and Aguascalientes, making this the 14th in the country.

Senator and prominent crypto enthusiast Indra Kempis of Mexico posted a photo of the new ATM on Twitter, hailing it as a sign of “financial freedom, inclusion, and education in Mexico.”

“We put the first Bitcoin ATM in the Mexican Senate. It is for educational purposes towards inclusion and financial education of the future,” the senator tweeted.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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