Thousands of Bitcoin ATM Installed Globally Amid Surging Demand for Crypto

Mainstream crypto adoption is fast becoming a reality and even more evident with the increasing installation of Bitcoin ATMs. According to data acquired by Finbold, the first three quarters of 2021 have seen the installation of 13,242 Bitcoin ATMs globally, with 4,779 taking place in the third quarter of 2021. This represents a growth of 7.8% from the 4,430 ATMs installed in the second quarter. Furthermore, the first three months of the year saw the installation of 4,033 new machines, with July being the highest at 1,963 machines.

North America has, by far, the largest number of ATMs globally, with 26,489. This represents a share of a whopping 93.5% of all the crypto ATMs scattered across the world. Europe comes in second with 1,268 ATMs or a share of 4.5%. Asia has 234 ATMs or 0.8% despite accounting for a significant portion of crypto users.

The reason for the North American domination of Bitcoin ATMs, despite its relatively hazy crypto regulations, owes to high demand and innovations in the digital currency space. Furthermore, North America presents the friendliest environment for crypto ATM suppliers. Outside of the United States, which does most of the heavy lifting, Canada and Mexico are emerging as fintech hubs in the region. The US also has existing partnerships with Bitcoin ATM suppliers. 

Image Credits: Pixabay

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