Bitcoin reached a new milestone when the number of BTC-enabled ATMs surpassed 10,000 worldwide. Right now, there are at least 10,162 ATMs that cater to BTC across 71 countries.
Bitcoin is currently the leading digital currency in the market. With a market capitalization of 117.81 billion, the ‘digital gold’ leads the cryptocurrency race. Over the years, the benefits of Bitcoin became popular to users, making it an alternative asset for investments, payments, and other transactions. As Bitcoin became a household name, many people began using it due to its efficient and cost-effective nature.
It’s no surprise that many countries have opened their economy to welcome ATMs that cater to Bitcoin.
According to Coinatmradar, it took 7 years before Bitcoin reached this peak in terms of adaptation. ‘It took the industry roughly 7 years to reach this point since the first permanent Bitcoin ATM installation at the end of 2013’.
‘After the first 3.5 years, there were 1,000 active bitcoin ATMs in operation, over the next 3.5 years, this figure has increased by 9,000 ATMs more’, they added.
According to Coinflip CEO Daniel Polotsky, there will be a significant increase in Bitcoin ATMs by the end of next year. He also noted that Bitcoin ATMs have become a popular option for crypto-fiat traders.
‘With 10,000 machines placed globally, bitcoin ATMs have become the go-to service for those participating in the cash-to-crypto market, including a significant amount of the unbanked and underbanked’, he said.
The United States is currently at the forefront of most Bitcoin ATMs installed. Currently, they have at least 8,004 ATMs across the country. Canada trails second with over 879 locations installed with Bitcoin ATMs. Meanwhile, the United Kingdom comes third with 281 areas with BTC-friendly ATMs.