More than 20,000 Bitcoin ATMs Installed in a Year

2021 saw the number of Bitcoin ATMs installed around the world grow exponentially in number, as more than 20,000 new machines have been installed since December 2020. This is more than the total number of crypto teller machines that have been installed in the last seven years. It is safe to say that ATM locations that enable people to use fiat money for buying and exchanging cryptocurrencies seem to be increasing at a rather unprecedented pace. According to the data put together by Coin ATM Radar, there are a total of 34,000 such machines in existence at the end of 2021. 

The crypto market reached all-time highs in 2021 and in this year, more than 20,000 bitcoin ATM machines have been established globally. The installation growth chart that was provided on the tracking website showed that in December 2020, there were less than 13,000 Bitcoin ATMs. These were all the ATM locations that had been registered since the beginning of October 2013. They have now exceeded 33,900 a year later. There is a crypto teller machine in almost every corner of the planet, but the spread still remains very concentrated. Almost 30,000 of all bitcoin ATMs, which makes them 90% of the total figure, can be found in the United States.

Canada, its northern neighbor, is at second place with about 2,200 machines. El-Salvador, which has adopted Bitcoin as legal tender, is also amongst the leaders with about 205 machines. This put it ahead of EU countries like Spain, which boasts less than 200 machines. Likewise, there are just 142 machines in Austria. There are only 1,384 crypto ATMs in the whole of Europe, as of December 29th, which puts it behind some of the key North American markets. There are a number of companies that are now manufacturing automated teller machines that support cryptocurrencies. 

Genesis Coin is the biggest player in the market, as it has almost 14,000 machines, whereas more than 7,500 machines are provided by General Bytes. There are close to 5,000 machines that Bitaccess offers. The top five list of companies is completed with Bitstop and Coinsource with less than 2,000 machines each. Crypto ATMs have been established by almost 6,000 businesses in different parts of the world and 70% of these machines are under the control of the 10 largest operators in the world. Bitcoin Depot is the largest company in the sector, which has about 6,000 machines, making it one-fifth of the market.

Then comes Coincloud with more than 4,600 machines and Coinflip that has more than 3,500 machines. These teller machines offer support for different cryptocurrencies and work as one-way or two-way devices. With the latter, users can buy as well as sell their digital currencies. Most of the bitcoin ATMs provide people with an opportunity to buy Bitcoin (BTC) and a number of them offer other major coins like bitcoin cash (BCH), litecoin (LTC) and ether (ETH). The growth in the number of ATMs is an indicaton of just how quickly the crypto space is growing.