In 2013, the world witnessed the very first Bitcoin ATM when a company called Robocoin placed an ATM machine in a Vancouver cafe. By allowing customers to exchange bitcoins for cash and vice versa, the device closed a $ 10,000 bitcoin deal on its first day.

According to CoinATMRadar, now, by the end of 2020, the approximate number of cryptocurrencies worldwide that allow customers to buy and sell bitcoins (BTC) and other altcoins for cash is around 11,665 ATMs.

This reflects a significant increase in the number of cryptocurrency ATMs compared to last year. The number of encrypted ATMs at the end of 2019 was estimated at 6372; Now, as we approach 2020, the growth has been almost 80%.

CoinATMRadar also shows that the number of cryptocurrencies is constantly increasing at a rate of 23 every day, or almost a new ATM per hour.

The United States recorded the fastest distribution of encrypted ATMs in the world and the largest share of encrypted ATMs in its territory. The number of encrypted ATMs located in the United States increased from 4,213 ATMs in 2019 to 9,242 ATMs in 2020, an increase of more than 50%. Currently, the US accounts for about 79.2% of the total number of encrypted ATMs in the world.

There is also a growing variety of encrypted ATMs in the United States, which are located in convenience stores, malls, transportation centers, and even the Tesla Gigafactory.

In the top five, Canada came in second with 880 ATMs. The UK ranks third with 268 vehicles. Hong Kong finished fourth with 62 cars. And finally, Colombia, which has recently shown a lot of interest in creating encrypted ATM machines with 59 machines.

In Africa, South Africa leads the continent with 6 cars, but you have to be careful as Nigeria, the continent’s largest economy, has shown increased interest over the past year.

At the level of digital currency ATM companies, Genesis Coin ranked first in the world, with a San Francisco-based company distributing 4,000 encrypted ATMs worldwide, followed by General Bytes with 3,442 ATMs.

The significant rise in the number of cryptocurrency ATMs in 2020 indicates the growing interest of both retail buyers and financial institutions, including the financial giant Paypal.

Source: CoinTelegraph

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