According to Coin ATM Radar, the world now has more than 1,000 Bitcoin ATMs in operation. According to reports, more than 60% of these machines – 621 – are at sites around the United States, with Canada coming in second in total Bitcoin ATM placement. The ATMs provide Bitcoin enthusiasts with easier access to Bitcoin transactions, and are viewed as an important tool for increasing awareness of the digital currency.
The number of these machines has increased dramatically since last May, when a reported 639 Bitcoin ATMs were in operation around the globe. The rapid growth is even more impressive than it might appear, since the first permanent installation of a Bitcoin ATM occurred only three years ago in Vancouver. That’s incredible progress given that the world has yet to fully embrace the use of Bitcoin, and some governments remain skeptical and even hostile to cryptocurrency.
On its blog, Coin ATM Radar notes that North America continues to dominate the Bitcoin ATM market, while the European share has dropped by nearly ten percent in the last several years. It now has roughly 20% of all the world’s Bitcoin ATMs. The rest of the world hosts only 6% of the world’s supply of these machines.
The achievement of this milestone occurred in rapid fashion, as nearly thirty of the machines were installed at different locations in the week leading up to the 1000th installation. Future growth in the rate of installation is expected, as more developing countries gain access to their own Bitcoin ATMs and increased economic activity in the United States sparks even more demand for Bitcoin and these machines.