The number of crypto ATMs installed worldwide has reached a new milestone

The number of crypto ATMs installed worldwide has reached a new milestone

As the adoption of cryptocurrencies has progressed rapidly in the past year, the installation of new crypto ATMs around the world has also followed this accelerated rate. The number of countries where crypto ATMs are available is also on the rise. During 2021, a large number of ATMs were installed as more and more countries accepted them. This time, the number of crypto ATMs in the world reached a new high, indicating that adoption is still high.

39,000 crypto ATMs worldwide

The rapid growth of cryptocurrencies worldwide is reflected in the number of ATMs around the world. This month, the space celebrated a new milestone in terms of these machines, which have now surpassed a total of 39,000 ATMs installed worldwide.

Data from coinatmradar shows that the number now stands at 39,015 ATMs installed in 78 countries. Most of the installations were carried out in the last two years. As of January 1, 2020, the total number of crypto ATMs worldwide was 6,364. It has grown more than 513% in the time since then to its current level.

Market cap surpasses $1.1 trillion | Source: Crypto Total Market Cap on TradingView.com

During this time, the number of ATM manufacturers also increased by more than 100%. There are now over 15,000 manufacturers from the 2,000 that dominated the space in early 2020. This has eased competition in the industry and the cost of using crypto ATMs has dropped as a result.

The United States continues to dominate

Most of the growth in ATM installation is occurring in the United States. This is due to the rate of adoption of cryptocurrencies in the region and the tendency to try out new technologies. For this reason, more than 80% of all crypto ATMs installed worldwide are located in the United States.

Currently, there are a total of 34,301 ATMs out of 39,015 ATMs that are currently active. That puts it at about 88% dominance in this industry. No other country comes close in this regard, and the United States has more crypto ATMs than all of the other 77 countries combined.

Other countries recording higher installation rates include Canada, Spain and El Salvador. The United Kingdom is interesting in this regard because while other countries have seen an increase in the number of crypto ATMs available over the past two years, their number has declined. There are currently only 22 ATMs in the UK.

There are currently 46 manufacturers worldwide with a total of 615 operations. In terms of bitcoin cash and cash for bitcoin services companies, it currently stands at 324,114, with the US accounting for roughly half of this number.

Featured image from Gadgets 360, chart from TradingView.com

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