Recent statistics by Coinatmradar.com indicate that the number of altcoin ATMs worldwide has grown exponentially to about 4,000. In the last two months, that average daily installation has reached 6.7 machines. North America has the highest number of these machines while Africa has the least with only 0.20 percent.
A Rise In Cryptocurrency ATMs
Cryptocurrency automated teller machines (ATMs) are one of the various ways that one can use to buy and even sell the virtual currencies. In the past few months, the world has experienced a tremendous increase in these machines. From America to the rest of the world, new digital assets ATMs are being installed every day at a high rate.
Coinatmradar.com recently released statistics that revealed that the world has 3,993 Cryptocurrency ATMs. The number is expected to reach 4,000 given the high rate at which these machines are being installed. Furthermore, the statistics revealed that another 141,000 ATM-like services allow users to sell different digital assets through traditional bank ATMs, vouchers, and mobile payment terminals. According to the statistics, users can buy or sell Bitcoin Cash using 1,200 of the 4,000 Cryptocurrency ATMs.
North America Has The Highest Number Of Cryptocurrency ATMs
The statistics by Coinatmradar.com also revealed that, in the last two months, the average daily installation of Cryptocurrency ATMs has reached 6.7 machines. North America has 993 Bitcoin Cash ATMs, which is the highest in the world. Furthermore, the figures also show that about 71 percent of these digital assets ATMs are installed in the region. Europe has the second highest number with around 23.5 percent of all the altcoin ATMs in the world. Asia and Oceania follow closely with 2.5 percent and 1.3 percent of all the machines respectively. South America has 0.98 percent, while Africa’s 0.20 percent is the lowest in the world.
The Number Of Cryptocurrency ATMs To Continue Growing
No single company can claim to dominate the production of Cryptocurrency machines. Genesis Coin is the largest manufacturer of these ATMs controlling around 32 percent of the market. Second is General Bytes with a share of 29.2 percent. Lamassu and Bitaccess follow closely with 10.9 percent and 5.4 percent respectively. The other manufacturers, Coinsource and Covault control 4.8 percent and 2.7 percent of the market respectively.
Cryptocurrency ATMs can enable the users to buy and sell their favorite coins. Statistics by Coinatmradar.com revealed that only 38.2 percent of all the digital assets ATMs allow the users to purchase and sell different altcoins. A whopping 61.7 percent of all Cryptocurrency ATMs in the world are one-way devices. The users can only buy virtual currencies on these machines.
The popularity of Cryptocurrencies is growing every day and new coins are being created every now and then. The manufacturers will only be increasing their production capacity to meet the increasing demand for their services. These companies are even introducing a new line of machines to improve customer experience. Lamassu recently introduced the “Sintra” series. It has been confirmed that these four models support Bitcoin, Bitcoin Cash, Litecoin, Dash, Ethereum, and Zcash. Marketsandmarkets, a research company recently reported that the Cryptocurrency ATM sector will experience an annual growth rate of over 50 percent.