Home » 9 years after the first Bitcoin ATM, there are now 38,804 globally

9 years after the first Bitcoin ATM, there are now 38,804 globally

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On October 29, 2013, a coffee shop in downtown Vancouver, Canada opened the world’s first publicly available bitcoin (Bitcoin) Automated Teller Machine (ATM) operated by Robocoin.

crypto ATM saw 348 transactions $100,000 was traded in the first week of operation.

As of October 30, 2022 — nine years and one day later — Robocoin may have ceased operations and the first crypto ATMs may have been removed or replaced, but the number of crypto ATMs continues to grow to 38,804. increase. Cryptocurrency ATM exist today, according to To the coin ATM radar.

But the global hub for crypto ATMs has since moved on, with the US now housing nearly 88% of the world’s crypto ATM supply, and 90% of all new ATMs installed in the past few months. %.

In October alone, 129 of the 205 total newly installed ATMs in the world were in the United States.

Canada, home to the first cryptocurrency ATMs, has only increased its number to 566 nine years later, but still ranks second with 6.6% of the total, according to Coin ATM Radar. data.

Spain, on the other hand Third Largest Crypto ATM Hub On October 22nd, it had a 0.6% share at 215 ATMs.

July report Research and Markets estimates that the crypto ATM space is currently valued at $46.4 million and will grow more than 10-fold to $472 million by 2027 due to growth in remittances and crypto ATM installations. is predicted to be

However, like many crypto-related products, crypto ATMs have been difficult to install this year as a result of the crypto bear market.

Installing Crypto ATMs Deceleration from January to May After a slight recovery from June to August, September saw net cryptocurrency ATMs drop globally for the first time after 459 machines went live. Removed from global network.

Related: Bitcoin ATM rates in Greece during record-breaking tourist season

Bitcoin remains the most popular cryptocurrency traded on crypto-enabled ATMs, with nearly 100% supporting BTC transactions. Around coin ATM radar. However, other ciphers seem to be supported across the network as well.

Litecoin (LTC) is popular with almost 81% of ATMs that support crypto, and Ether (ethereum) followed closely with almost 74%, followed by Dogecoin (Doge) is in fourth place, with just under 40% favoring the so-called memecoin.

In early October, US officials warned that cryptocurrency ATMs were on the rise. Common tactics of scammers “Pig butchery” scams, where attackers pretend to be potential romantic partners, gain their trust, and ask them to send money or even cryptocurrency to their victims to receive value and deceive them. Most