Bitcoin ATMs close to hit 4,000 devices worldwide

Statistics reveal that the total number of Bitcoin ATMs will exceed 4,000, potentially by the end of November.

The rapid increase in the use of cryptocurrencies comes at a time when global demand for bitcoins and other digital goods has increased worldwide, especially in the Latin American region.

Bitcoin ATM to reach 4,000 milestones

The global use of Bitcoin ATMs has grown with the progressive adoption of cryptocurrency and the increased use of digital currencies as a payment method.

At present, the total number of cryptocurrency cash machines in the world is 3,973, only a handful of devices refer to the milestone of 4,000, the data on the ATM monitoring site of Coinatmradar show.

According to the monitoring platform, the number of ATMs has increased over the years from the installation of the first Bitcoin in November 2013.

That number doubled every two years, with 2017 and 2018, which saw huge growth in the five years following the initial machine.

Bitcoin ATMs on all continents

While the global total is set to grow, the statistics show that North America has the highest number of BTC ATMs in the world.

As shown on Coinatmradar, North America leads the race with almost 71% of all Bitcoin distributors installed. Europe comes second with 24% of the market, while Africa has the lowest number of ATMs with just 0.20%.

Incidentally, Africa has seen a gradual rise in the crypto industry with a penetration that should reach record levels in the short run.

At the national level, the United States leads the world with a total of 2,219 ATMs. Canada takes second place with 600 machines.

Other countries with a considerable number of devices include Austria with 247 devices, UK with 193 ATMs and Russia, which has about 75 Bitcoin ATMs installed.

While the rest of the machines are spread all over the world, countries like Germany, Iceland, Saudi Arabia, Thailand, the Philippines, Kenya and Cyprus have a Bitcoin ATM each.

Bitcoin ATM manufacturers

With the increasing demand for BTC ATMs around the world, the number of manufacturers also increases, with a greater number coming onto the market in the last two years.

According to statistics, the American ATM maker Bitcoin Genesis Coin currently controls most of the market, with its devices installed in 32% of global locations.

The second leading ATM manufacturer is General Bytes, a company based in Europe that controls almost 30% of the market. Other start-ups with a considerable market share include Lamassu which supplies 11% of ATMs and Coinsource with 5%.

The rest of BTC's ATM manufacturers collectively control about 12 percent of the market. With the total number of producers expected to increase, competition can only be useful for the continued acceptance and adoption of digital currencies.

Bitcoin ATMs "are not accepted here"

Although the number of Bitcoin ATMs should skyrocket in the coming months, growth in some countries will likely remain low.

Concerns about consumer protection and lack of understanding have seen some governments seize Bitcoin ATMs.

Among those countries that have not been keen to encrypt, India, whose central bank (RBI) recently ordered the arrest and confiscation of the first Bitcoin ATM installed in the country.

Previously, the Russian authorities had also seized 22 Bitcoin ATMs installed by the Bitcoin provider BBFPro, a move that the encrypted company had said without warning.

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Disclaimer: This is not an investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.