It has been revealed that there are more Bitcoin ATMs popping up than traditional banking ones these days with, on average, 5 popping up each day. This is despite the fact that the price of Bitcoin has fallen in recent days, hitting a low of just $8,000 today.
There are approximately 2,177 Bitcoin ATMs in the world, and nearly half of these support other altcoins as well as Bitcoin. 160 of these machines were installed during the market correction, which shows that even when the price has fallen, there are still supporters of cryptocurrencies. In 2017 alone, the number of Bitcoin ATMs doubled from just 954 to 2,028.
It probably comes as no surprise that the most number of machines is in the USA with 1,296 in total. In second place is a more surprising contender, being Canada, with 108, and in thirdÂ place is the UK, where there are 108 machines. A more surprising statistic is that ASIA has just 47 BTMs; just 2.16% of the total number despite the fact that cryptocurrencies are very popular here.
If you choose to use these machines though, there are certain things that you should know. The average buying fee is 10.17% for Bitcoin, although other alternatives and other coins have lower fees, which could be bad news for Bitcoin.
As the regulations surrounding security get stricter, the suppliers of the BTM machines are being forced to add dentification features. It is a very widely known fact that cryptocurrencies have incredibly volatile price, and whilst this can be difficult, it is absolutely essential for them to grow.
Image Source: Flickr