The number of bitcoin ATMs has seen a dramatic increase in recent years, with more than 36,000 machines now available worldwide. The majority of these are located in the United States, where people can buy and sell a variety of cryptocurrencies. Popular Bitcoin ATM operators include Athena BitcoinATM, CoinersBitcoin, DepotBitcoin, of AmericaBitstop, Byte Federal, and Cash2Bitcoin. Bitcoin ATMs (Automated Teller Machines) are kiosks that allow users to purchase Bitcoin and other cryptocurrencies using cash or debit cards.
Some Bitcoin ATMs even offer two-way functionality, allowing customers to both buy and sell Bitcoin for cash. In some cases, users may need to have an existing account in order to make transactions on the machine. According to Coin ATM Radar's data, an average of 34.6 new ATMs are being installed every day. The United States is home to 90 percent of all Bitcoin ATMs in the world, with 29.80 machines per country.
Canada follows in second place with 2.13 machines per country, while Europe has 1.38 machines per country. Other countries with a high number of Bitcoin ATMs include Spain (16), Austria (14), Switzerland (13), and the United Kingdom (10). In order to protect users from fraud, many Bitcoin ATM companies require passwords and two-factor authentication for accounts. Coinsource is one such company that offers this service.
Recent data from CoinAtmRadar has revealed that the number of Bitcoin ATMs worldwide has increased by more than 100% in the last 12 months. Marc Grens, president of Chicago-based bitcoin ATM operator DigitalMint, said that his company's findings reflect this trend when they investigated where some crypto transactions ended up. A Bitcoin ATM is an internet-connected kiosk that allows customers to buy bitcoins using fiat currencies. Unfortunately, criminals have been known to exploit these machines for their own gain. For example, scammers may direct victims to a physical cryptocurrency ATM to insert their money and buy cryptocurrencies with a provided QR code to automatically fill in the recipient's address. According to CoinAtmRadar's data, the United States is home to the highest number of Bitcoin ATMs in the world with 29.80 machines per country.
Canada follows in second place with 2,216 Bitcoin ATMs installed in the country, while El Salvador ranks third with 205 Bitcoin ATMs.