By The total number of Bitcoin ATM’s or aptly known as BTM’s worldwide has reached 5,000 for the first time in history as per data from CoinATMRadar on June 24.
As per the latest statistics released to the press, there are now 5,006 standalone BTM’s in as many as 90 different countries. These BTM’s allow users to purchase and sell bitcoin (BTC), with certain models allowing for transactions simultaneously.
In June alone, there has been 150 new installations which amounts to about six new BTM’s popping up per day.
General Bytes, a BTM manufacturer based in Prague, recently surpassed Genesis Coin as the top manufacturer with the largest number of BTM’s installed.
Furthermore, it’s not only the BTM market which is rapidly expanding but also other methods of procuring BTC offline. A deal earlier this year, saw Coinstar, a coin counting kiosk operator begin expansion of bitcoin kiosks to over 2200 locations in the US.
Currently, the USA holds more than 50% of the world’s BTMs at 3229 machines with a new pilot project rolling out this month which will bring more machines to Circle K convenience stores across Arizona and Nevada.
Marc Grens, president and co-founder of crypto provider, DigitalMint, in a press release stated:
“We are thrilled to be partnering with a respected organization like Circle K. This partnership opens the door for massive expansion of Bitcoin access to new markets around the globe.”
This increased expansion and competition in the BTM industry could ultimately lead to a reduction in fees charged to customers. Currently, the fees charged are noticeably greater than that of purchasing and trading via online alternatives such as crypto exchanges.
Lastly, other face-to-face trading options are also gaining popularity with many new investors keen to avoid the laborious nature of KYC processes when signing up for cryptocurrency exchanges.
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