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Six Years Later, the Number of Bitcoin ATMs Just Crossed 5,000 Globally

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The number of Bitcoin ATM installations globally just hit a major milestone. | Source: Shutterstock
The number of Bitcoin ATM installations globally just hit a major milestone. | Source: Shutterstock

Nearly six years after the first Bitcoin ATM was installed in Vancouver, Canada the number of the cryptocurrency-dispensing machines across the world has risen to 5,006, according to Coin ATM Radar. In the last 60 days, an average of just under 6 Bitcoin ATMs were installed per day.

Has the US bitcoin ATM market reached saturation point?

Unsurprisingly, the U.S. leads in the number of crypto vending machines with over 3200 Bitcoin ATM locations. This is around 64 percent of the world’s total. Canada, which hosted the world’s first ever cryptocurrency dispensing machine, was second with over 680 locations.

In addition to Mexico and other countries in the region, North America now has over 74 percent of the world’s Bitcoin ATMs, hinting at the great deal of work the rest of the world has to do to catch up.

Interestingly, more crypto ATMs were installed in the months after cryptocurrency prices tumbled from their December 2017 high than the preceding four years. Since January 2018 over 3,000 crypto ATMs, or 60 percent of the current total, have been installed.

Bitcoin ATM
Bitcoin ATM

Bitcoin ATM installations by month | Source: Coin ATM Radar

Read the full story on CCN.com.