Bitcoin ATMs unprecedented growth: 720%, 3600 machines added worldwide

February 15, 2019
Chris Wheal

According to the latest stats supplied by Coin ATM Radar, the number of Bitcoin ATMs has been roughly doubling every year, starting from 2016. For these three past years, there were 3,800 new Bitcoin ATMs added, 2100 of which have been established just within the past 12 months. The average fee charge for crypto ATMs worldwide is 8.9% per transactions, while fiat ATMs, as a comparison, charge flat fees ranging from $2-$4 for a withdrawal. Almost all crypto ATMs offer Bitcoin, but there are also 66% that offer Litecoin, 55% that offer Ethereum, 33% that offer Bitcoin Cash, and 18% that offer Dash, according to Coin ATM Radar.

bitcoin-atm

Coinme, one of the leading U.S. crypto ATM companies, has added 1850 ATMs nationwide since 2015. With their recent partnership with Coinstar, that number grows even more, putting crypto ATM in almost every single grocery store in America.

According to Dom Garret, director of engagement at Coinme, “the physical [ATM] machines represent an ideal on-ramp that people trust to enter the digital currency economy.” Garret is confident that convenience and simplicity are the two key factors for mainstream cryptocurrency adoption. With further regulatory and institutional involvement, experts see 2019 as the historic year for crypto. We continue to follow the developments in the industry, stay tuned for our updates!

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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