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30 October 2020

Bitcoin ATMs Surpass 10,100 Worldwide: Expert Shares Industry Outlook | Bitcoin News

Bitcoin ATMs Surpass 10,100 Worldwide: Expert Shares Industry Outlook | Bitcoin News


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The bitcoin ATM industry has reached a milestone as the number of machines installed worldwide has surpassed 10,000 after seven years since the first machine was installed.

According to the site, 10,162 cryptocurrency ATMs have been installed in 71 countries.

“With 10,000 machines placed globally, bitcoin ATMs have become the go-to service for those participating in the cash-to-crypto market, including a significant amount of the unbanked and underbanked,” he began.

is still in the lead with the most bitcoin ATMs installed (8,004 locations), followed by Canada with 879 locations, the U.K.

Genesis Coin tops the list of bitcoin ATM manufacturers, with 3,574 of its machines installed, followed by General Bytes with 2,964 machines, Bitaccess with 1,040 machines, Coinsource with 632 machines, and Lamassu with 518 machines.

He pointed out that “Aside from the ATMs buying process’s benefits, there are many individuals with a strong cash preference.” Moreover, he asserted, “Exchanges are some of the most influential companies in the sector, but they have a blind spot: they can’t serve customers who wish to pay in cash,” adding that “Bitcoin ATMs were created to fill this gap in the market.”.

“We believe that cryptocurrency and blockchain have the potential to accelerate financial inclusion across the world,” he opined, noting that “Bitcoin ATMs are one part of the solution.” As for his company’s future plans, he said Coinflip is planning a global expansion as the U.S

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