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Bitcoin ATM installations are rising significantly

Source: https://bit.ly/3eZVDl6

One of the indicators used to measure the widespread adoption of Bitcoin in popular circles is the availability of Bitcoin ATMs for users.

According to the latest data from “Coinatmradar”, the number of Bitcoin ATMs has increased significantly over the past few months.

According to the latest data from “Coinatmradar”, the number of Bitcoin ATMs has increased significantly over the past few months.

Crypto ATM tracking website shows that the number of Bitcoin ATMs reached 19597 as of May 7.

This represents a staggering increase as the number was estimated at 7,756 ATMs in May 2020.

This indicates that cryptocurrencies such as Bitcoin, Ethereum, and Bitcoin Cash are rapidly moving into the mainstream.

Increase the number of cryptocurrency ATMs:

Bitcoin’s growing popularity is the main driving force in the installation of new devices and kiosks globally.

The number of Bitcoin ATMs has nearly doubled since September 2020, driven by renewed momentum towards cryptocurrency trading.

The demand for kiosks offering cryptocurrency exchange services prompted service providers to search in locations that competitors had not reached.

As a result, kiosk operators such as “Coin Cloud”, “Bitcoin Depot” and “CoinFlip” have installed thousands of cryptocurrency ATMs over the past year.

A Coinatmradar report released in April revealed that ATM operators had maintained a steady stabilization rate between 8% and 10% over the previous month.

This drive to get ATMs to more locations is critical to boosting the adoption of cryptocurrencies around the world.

A new sign of adopting cryptocurrencies:

Undoubtedly, the steep rise in ATMs supporting cryptocurrencies has been inspired by Bitcoin’s rise to more than $ 60,000.

The United States remains the leading country in terms of cryptocurrency ATM installations.

The number of machines registered in the USA increased from just 5,635 in May of last year to a staggering 16,378.

Coinatmradar data shows that Canadian Bitcoin ATMs increased from 718 to 1,362 in the same period.

Europe also saw a significant increase in ATM installations from 1142 to 1306.

Surprisingly, the numbers for Bitcoin ATMs in the UK are declining.

The number of kiosks there were 181, down from 274 in May last year.

Last month alone, Bitcoin Depot, which has a growing network of cryptocurrency ATMs in the US, installed a new batch of 350 ATMs across 40 states.

This Atlanta-based teller machine provider has installed more than 2,500 encrypted ATMs worldwide, indicating the growing popularity of digital currencies.

The largest kiosk operator has doubled its presence in just six months and expects growth to reach 200% this year.

Why do people turn to encrypted ATMs?

There are many different reasons why people choose to use encrypted ATMs rather than transact online.

Some people prefer these teller machines because they feel more comfortable interacting with a physical device rather than interacting online.

Cryptocurrency ATM users also cite the need for anonymity, the lack of use of bank accounts, and the need to send remittances abroad quickly and inexpensively.

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