The number of BTC vending machines around the world has more than doubled since the start of the year. Most of these ATMs are located in the United States, with the global total standing at nearly 34,000.
The number of Bitcoin ATMs installed across the world increased by more than 100% in 2021. This is their largest increase since the appearance of these ATMs in 2013. In January 2021, there was just over 14,000 BTC ATMs worldwide. Today that number stands at nearly 34,000.
This surge in the number of Bitcoin ATMs around the world demonstrates that the asset is starting to take root in the global economy. 2021 has been a great year for Bitcoin on several fronts. The growth in the number of ATMs is just one of the many portents for a bright future.
The acceleration of Bitcoin ATM installations has continued since 2020, a year that has also seen growth in these ATMs despite the pandemic. Bitcoin ATMs more than doubled in 2020, from around 6,400 to 12,800 during the year. This trend started in 2018, after the ICO boom at the start of the same year.
Bitcoin ATMs have their drawbacks, including the overly high transaction fees. Therefore, some users prefer physical crypto exchanges over Bitcoin ATMs. This is a convenient way for the public to start investing in Bitcoin and arguably brings some exposure to this asset class.
The installation of vending machines had strong growth for the first time in March 2021, and since then more and more countries have adopted them. Today, several countries around the world operate BTC ATM operations.
Bitcoin ATMs are becoming popular in many countries
There has been a worldwide growth in the number of BTC vending machines. However, most of them (around 29,000) are based in the United States. As of May 2021, Bitcoin Depot alone installed over 350 BTC ATMs in the United States.
In Latin America, Honduras launched its first crypto ATM as interest in this asset class was in full swing. El Salvador, which recognizes Bitcoin as legal tender, also has more than 200 Bitcoin ATMs. Colombia has followed in the footsteps of its neighboring countries by launching its own crypto ATMs.
China, on the other hand, does not allow crypto. However, it has launched an ATM for digital renminbi and cash exchange services in Beijing.
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