The popularity of Bitcoin has made people aggressive about the coin. We have now seen a rise in platforms for exchanging these coins. Thanks to the way the coins have propelled in the recent past. One of these platforms that allow you to access these coins, including Bitcoin ATMs, of late, the number of Bitcoin has mushroomed in a big way. The said figure is of the United States; however, if you look at the global level, till December, the number of cryptocurrency-based ATMs have soared in a big way in 2021; as of now, we can see 34k New installations all across the world.
It is a massive total if we check how these crypto-based AMTs are coming into operation. Comparing the earlier figures that often remained low, the surge has been exponential in the said year. You can further research this topic by visiting sites like how true that bitcoin will get banned in India. Meanwhile, we can explore the overview of this news here in this article. Let’s check it out:
What is a Bitcoin ATM?
A BTC ATM is a web-based kiosk that helps consumers procure BTCs and other types of digital coins with the help of deposited cash or any other kind of crypto coin. With the help of a BTC ATM, you can collect cash or procure Bitcoin. It is similar to the usual ATMs in look and feel. It helps connect you with your bank account without visiting the physical banks. BTC ATMs often carry out transactions with the help of Blockchain that helps send out digital coins to the users’ digital wallets. It can even work with the help of a QR Code. Using Bitcoin ATMs can help people procure Bitcoin and other digital coins. Using an ATM is often known as the misnomer, while machines are not often the AMTs that do not bring out the cash. Instead of the ATMs being a misnomer, we can find these as machines that are not often the real-time ATMs as these don’t dispense out the cash. However, using the QR codes, things could be quick when you want to buy Bitcoin or get the cash against your BTC and so on.
The rise of BTC ATMs
As of now, there are more than 34K of digital currency based coins. The ATM locations are seen increasing with time, and we see it coming along at an unprecedented pace. The reports suggest that the idea of buying Bitcoin has soared the number of BTC ATMs all around. As per Coin ATM Radar reports, the number at the end of this year would come close to34K. The year that brought the digital currency market to its zenith in the number of ATM devices, we have seen 20K of the BTC ATMs coming in place all across the globe. However, in the US alone, we see the BTC ATMs reaching the figure of 20K by the end of 2021. The earlier number of ATMs for Bitcoin in the US was not less than 13K, as the reports suggested in December 2020. As per the growth chart of installation, as it is updated with the help of tracking based website claims, BTC ATMs seemed the same amount as indicated above. So, as of now, we have 20K of the BTC ATMs installed every year worldwide.
BTC ATMs in different nations
Today you can find Digital currency ATMs worldwide and in the US in every nook and corner of all the states. The country then saw another rise in the number of ATMs which went to around 90 percent in the coming times. Also, Canada is now gearing up to gain more ATMs. As per reports, the country has come along with around 2200 ATMs for Bitcoin in 2021. El Salvador, which is regarded as the world leader in accepting Bitcoin, sees a good surge of Bitcoin ATMs in the country. So far, it has around 205 ATMs, while we have a similar number in the EU again. Austria with 142 and Spain less than 200 to name a few. Entire Europe has around 1.3K of BTMs, making it behind the US. The most significant player for BTMs in the US comes from other nations.