The Number of Bitcoin ATMs Hit 9,680 in September, a 167% Jump Year-on-Year

The Number of Bitcoin ATMs Hit 9,680 in September, a 167% Jump Year-on-Year

Recent months have witnessed a surge in the number of Bitcoin ATMs operating worldwide, as one of the most convenient and quickest ways to transfer physical cash into Bitcoin or other cryptocurrencies.

According to data presented byAksjeBloggen.com, the total number of Bitcoin ATMs hit 9,680 at the beginning of September, a 167% jump year-on-year.

Nearly 3,900 New BTMs in 2020 Only

Bitcoin ATMs, also known as BTMs, enable users with quick access to cryptocurrencies like Bitcoin. Developed countries such as the United States, Canada and the United Kingdom hold the most significant number of BTMs. However, over the years they also became enormously popular in countries with volatile financial markets whose citizens require a quick exchange of their country’s currency for a digital asset not tied to or regulated by any government.

In December 2017, there were 1,932 BTMs in the world, revealed Coin ATM Radar and Statista data. By the end of 2018, this figure soared to 4,009, a 107% jump in a year. The number of Bitcoin ATMs operating around the world continued growing in 2019 and hit 5,795 in December.

However, 2020 has witnessed a surge in the number of ATMs supporting digital coins, with 3,885 new BTMs operating worldwide between January and September, a 67% increase in nine months.

The Number of BTMs in The United States Soared by 127% in a Year

Analyzed by geography, the United States represents the leading crypto ATM market, with 78% of all Bitcoin ATMs globally. The Coin ATM radar data also revealed the number of BTMs operating in the United States significantly increased in the last year. In September 2019, the US citizens could use 3,332 crypto ATMs all around the country. Statistics show the number of BTMs in the United States hit 7,567 in September 2020, a 127% jump in a year.

Canada, ranked as the second-largest BTM market globally, with 869 Bitcoin ATMs as of September. The United Kingdom, Austria, Spain, and Switzerland follow, with 278, 150, 106, and 81 BTMs, respectively.

Statistics also indicate Genesis Coin is the leading Bitcoin ATM manufacturer globally, with a 35% market share and 3,406 BTMs operating worldwide as of September. General Bytes ranked as the second-largest manufacturer in the world with a 29% market share and 2,893 BTMs. BitAccess and Coinsource follow with 923 and 595 crypto ATMs, respectively.

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