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The Number of Bitcoin ATMs is Rising around the Globe

15.05.2018
The Number of Bitcoin ATMs is Rising around the Globe


With the rise of the popularity of Bitcoin, there arose a question of related services that can provide bitcoin holders with effective means to use and cash-out this most popular cryptocurrency. Nowadays a lot of companies are designing and trying to market crypto ATMs, cold storage wallets and other crypto software. Among all of them, BTMs are strongly conquering the market, being the most wanted way to get Bitcoins. In this article we’re unraveling the reasons why BTMs are so popular.

 

Up to present day there are around 3500 Bitcoin ATMs worldwide, and this number is gradually increasing. Why do most people choose BTMs? We have found a few reasons for that.

 

  • Familiarity
    Usually people naturally choose what they are used to, that is how humans’ psycho works. The mechanism of putting something into a machine is similar to regular ATMs that is why people are more inclined to stick to BTMs instead of other cryptocurrency cash-out and storage options.

 

  • User-friendly design
    As bitcoin technology is still relatively new, many people do not feel comfortable or confident enough to deal with new software that seems obscure to them. People like simplicity because it allows to complete a transaction easily, with no effort required to get “real”, material cash.

 

  • Privacy
    If you are trying to avoid special attention of your bank for Bitcoin purchases, using local Bitcoin ATM can be very convenient. You will just need cash to buy Bitcoins from a BTM. If you are not using your card to perform a transaction as it is done at exchanges like Circle or Coinbase, your bank will not know what you spend your money on, thus ensuring a high level of security.

 

  • Inclusivity
    Having a bank card supplies you with an opportunity to purchase bitcoins from various sources, but what if you don’t have one? Usually when you go to a bank to get a new one, it is pretty time consuming process requiring a lot of your personal data. BTM is the best viable option for “bankless” people as to get bitcoins you don’t need anything more than some cash and sometimes a phone number.

 

Thanks to all the above-mentioned BTM advantages, they are being employed by more and more countries around the globe. According to data collected by us from different sources, top 5 bitcoin ATM countries are the US, Canada, Austria, the UK and Spain. In Europe, the Isle of Man is top bitcoin destination by the number of bitcoin ATMs per capita as there is one BTM there for almost 87 thousand people living in the island.

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