3,000 bitcoin (BTC) ATMs have been installed worldwide since early 2022

As the use of cryptocurrencies becomes more widespread, the sector is setting up infrastructures to facilitate the transition, such as bitcoin ATMss (BTC).

A growing market

Despite the fact that the cryptocurrency market today is under downward pressure, this has not stopped the installation of bitcoin ATMs around the world, with their number continuing to increase.

There were 2,959 new ATMs that convert cryptocurrency into fiat currency built in the first four months of 2022. According to the industry monitoring site Crypto ATM Radarthese ATMs support bitcoin, ether (ETH), bitcoin cash, litecoin, dash, monero, zcash, dogecoin, tether and Ripple’s xRP.

On May 11, there were 37,293 bitcoin ATMs worldwide, 32,807 in the United States and 1,396 in the European Union. The market remains largely dominated by North America, but Spain is carrying the European market with 200 bitcoin ATMs for now. A bitcoin ATM has been installed in the Mexico Senate building.

Genesis coin, the world leader in bitcoin ATM

There are 44 producers of these machines and about 610 operators across 77 countries. Genesis coin dominates the market with over 15,000 ATMs installed.

A Bitcoin Genesis1 ATM was donated by the company to the Botswana Bitcoin community led by Alakanani Itireleng.

At the end of July 2014, through its twitter channel, the company announced its one-way bitcoin vending machine called Satoshi1.

$14,500 for the Genesis1 (two-lane) bitcoin machine.

$6,800 for the Satoshi1 bitcoin machine (1 lane)

$8,900 for the Satoshi2 bitcoin machine (2 lanes)

1% ongoing transaction volume fee for using the software.

For two-way bitcoin ATMs, they allow fiat to bitcoin and bitcoin to cash transactions. Interestingly, these ATMs support three cryptocurrencies: bitcoin, Litecoin, and Dogecoin, which is unlike other ATMs that only support bitcoin.

The demand for two-way ATMs is increasing due to the multi-functionality capabilities available on these machines.

It was recently announced that all 1,800 Bitcoin of America ATMs will now be able to convert Shiba Inu tokens at their respective outlets. Bitcoin of America is available in 31 states in the United States of America.

Bitcoin ATM
source: Coin ATM Radar

ATMs Drive Crypto Adoption

By comparison, around 20,000 new bitcoin ATMs were built in 2021, with more than 50 new machines being activated every day. However, last January there were alerts about scams involving cryptocurrency ATMs.

With the increasing number of bitcoin ATMs in operation, it is clear that the machines are growing in importance as cryptocurrencies become more accepted around the world. The United States, in particular, has seen the highest number of bitcoin ATM installations.

Like the broader cryptocurrency market, the environment for bitcoin ATMs is undergoing a transformation as manufacturers look to leverage the side user friendly of the machine to increase their profits.

Bitcoin ATMs are a critical step in cryptocurrency adoption. People still need to rediscover habits linked to the traditional economy, however, the future must be decentralized, without third parties such as ATM builders, and simply exchanges between individuals.

Receive a summary of news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential Cointribune!

User Image

Alexis Patin

Passionate about geopolitics, economy, cryptocurrency, Eurasia and travel! (as far east as possible), crypto-trader for 4 years.

We wish to give thanks to the writer of this write-up for this incredible web content

3,000 bitcoin (BTC) ATMs have been installed worldwide since early 2022

Check out our social media profiles , as well as the other related pageshttps://metfabtech.com/related-pages/