The number of Bitcoin ATMs worldwide is increasing. So much so, that the industry could hit the 4,000 figure in just over a week.
3,961 and Counting
The country with the highest number of installed machines is the U.S. with 2,353. This is followed by Canada with 678, Austria with 248, the U.K. with 204, and the Russian Federation with 72, making up the top five. However, while there are a number of countries that still only have one, that number will increase with interest in crypto rising within those countries.
Some of the nations that only have one include the Philippines, Germany, Guatemala, Kenya, and Albania.
According to the data from CoinATMRadar, there are currently 5.58 Bitcoin ATMs installed each day. This means that at the current installation rate, the 4,000 milestone could be reached in eight days.
North America currently makes up 71.48 percent of the number of Bitcoin ATMs by continent. This is followed by Europe at 23.47 percent. After that is Asia, with 2.53 percent. Oceania makes up 1.34 percent, then South America at 0.96 percent, followed by Africa at 0.20 percent, and uncategorized at 0.03 percent.
What’s notable about these findings, though, is that despite a slump in the market, interest is still there. This is evident by the number of machines being installed. Compared to January 1st, 2014 when there were four installed, the industry has seen a 98,900 percent increase in over four years.
This increase, however, is likely to continue as interest in the market does. This, in itself, paints a positive picture for where the industry is going.
Argentina is one nation that is embracing the industry. With a country in economic turmoil, its people are finding solace in crypto.
The country currently has three Bitcoin ATMs. However, the report states that by the end of the year, it could have as many as 30 put into place. Looking into next year and that number could rise to 150.
Crypto ATMs are also set to rise in Greece. This is due to the demand for crypto increasing in the country. Back in September, it was reported that there were 10 Bitcoin ATMs in Greece. At the time of publishing, there are now 18. However, if the people are calling for the machines, it makes sense to install them.
Only then can people gain access to the market in a user-friendly manner.
What do you think of the 4,000 milestone? Do you think that number will continue to rise? Let us know in the comments below.
Images courtesy of Shutterstock.
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Author: Rebecca Campbell