Recent statistics show that the number of ATMs that cash out Bitcoin is about to reach 4,000. Despite not being on the same level as mainstream ATMs, Bitcoin ones are seeing some pretty impressive growth. This month alone has seen the volume of machines to be worldwide and expected to cross the 4,000 mark. Over time, Bitcoin ATMs have become more and more popular throughout the world. The current number of these ATMs stands at just over 3,990 so it is just touching the 4,000 level. The first Bitcoin ATM was installed five years ago in 2013 and there has been quite some growth since then which signifies the growing acceptance of digital currency all around the world. In the United States, there are over 2,200 Bitcoin ATMs spread across the country which gives it the top slot for countries across the globe. In Canada, there are over 600 ATMs which gives it the silver medal compared to the US. The number of Bitcoin ATM manufacturers have also seen an increase in number over the years. The American company, Genesis Coin has the most significant market share with over 30%, followed by the European based General Bytes with 29%. At the bottom of the pile is Orderbob ATM which has 2.13%. With more manufacturers making more and more Bitcoin ATMs this shows that the market’s competitiveness is a growing sign of acceptance for the cryptocurrency. Looking away from the crackdown on digital currency trading, some countries are also executing the operations of Bitcoin ATMs. There are some governments which see the installation of Bitcoin ATMs as an avenue to defraud unsuspecting victims. The forefront of the digital currency ban is in India. With the RBIs ban on digital currency trading the crypto trading company in India, Unocoin installed the countries first Bitcoin ATM. Nevertheless, authorities seized the Bitcoin ATM and arrested co-founders Harish BV and Sathvik Viswanath, claiming that there wasn't any permission to install. As discussed by Ethereum World News, there was also over twenty Bitcoin ATMs seized in Russia which belonged to one of the countries manufacturer, BBFPro. According to the company, there was no previous information following the confiscation of the Bitcoin ATMs. The firm also made it clear that authorities made it known that there would be a six-month inspection before they return the Bitcoin ATMs. What are your thoughts? Let us know what you think down below in the comments!
Investment Disclaimer
