One way to make Bitcoin more accessible to everyday people is by creating and installing more Bitcoin ATM’s. As several companies are competing in this “niche space”, don’t you ever wonder where most of these ATM’s are located? And which company has deployed the most ATM’s at this point time? The answers might surprise you.
Bitcoin ATM Locations
Considering there are currently 342 Bitcoin ATM’s around the globe, according to CoinATMRadar, and the most “popular” Bitcoin countries to be the United States (96) and Canada (68), they are the obvious choices to take up the first two places. But have you ever wondered which country could be third on the list?
It will come as a slight surprise to many readers, but Australia has the third most Bitcoin ATM’s installed at this point in time. With a total of 19 Bitcoin ATM’s installed, Australia has managed to leap over countries such as the United Kingdom (17) and Finland (13). We are eagerly awaiting the impact the current hearings on cryptocurrency will have on the Bitcoin ATM eco-system in Australia.
Further down the list, both The Netherlands and Hong Kong are tied with 12 ATM’s installed respectively. On their heels, we find Singapore (11) and China (9). I find the number of Bitcoin ATM’s in China rather interesting, considering how the government has “advised” all financial institutions to steer as far away as possible from Bitcoin and other digital currencies.
Italy and the Czech Republic are seeing an interesting growth in the number of BTC ATM’s as well, as both countries currently have 8 operational devices each. Plenty of countries are being represented in the overall list, as the 342 Bitcoin ATM’s in operation are spread out over 46 countries. Every continent is represented, including Africa, even though you could debate on whether or not the South African Bitcoin ATM will actually help drive Bitcoin adoption on that continent.
When taking a quick look at the pie charts, North America gobbles up 49.12% of all operational Bitcoin ATM’s currently in existence. While Asia is a very popular continent for cryptocurrency in general , they only host 14,04% of the available Bitcoin ATM’s. To put this number in perspective, this is less than half of the machines operated in Europe (28.95%). Oceania (6,43%), South America (1.17%) and Africa (0.29%).
One of the things that strikes me as odd is how BItcoin could make a big impact in markets such as Oceania, South America and Africa due to the current economical climate in those parts of the world. Oddly enough, there are very little Bitcoin ATM’s to be found there.
Bitcoin ATM’s : One-way vs. Two-way
From what we can gather, most Bitcoin ATM’s only sell the digital currency to people in exchange for fiat currency. While this is a good trend to attract more people to Bitcoin itself, you also have to wonder if it wouldn’t be better to have more two-way ATM’s instead. After all, if you can buy Bitcoins for fiat currency , that’s great. But as most things in life still need to be paid in fiat currency, it would be even better to be able to sell Bitcoin in exchange for fiat currency when you need it.
As of this writing, 35.67% of all the operational Bitcoin ATM’s in the world are two-way machines, allowing customers to both buy and sell Bitcoin in exchange for fiat currency. So far, this is a very strong number, which we can only hope to see increase over the month and years to come. Whether or not this growth will actually take place is also dependant on the Bitcoin ATM manufacturers.
Bitcoin ATM Manufacturers : The Who is Who
The Bitcoin ATM space has several major players, names we come across several times ever since the inception of these devices : Lamassu, Robocoin and Skyhook are perhaps the most famous “brands”. But what about smaller companies such as BitAccess, Genesis Coin, General Bytes, Numoni and others, who are all trying to make a name for themselves?
Note from the author : most of these companies have not been mentioned by “mainstream” cryptocurrency news outlets. We will be in touch with each and every one of them in order to bring our readers a more in-depth report.
The market share of each manufacturer presents us with some noteworthy trends. All manufacturers are still experiencing a growth, but things are starting to slow down a bit for Lamassu and Robocoin. On the other hand, business seems to be booming for Skyhook and BitAccess and “other companies”. Genesis Coin, General Bytes and Numoni have plenty of work ahead of them in order to increase their market share over the next year.
Source : http://coinatmradar.com/