• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
Cryptocurrency ATMs
Advertisement

The Future of Cryptocurrency ATMs has Arrived

Melanie Kramer by Melanie Kramer
4 years ago
in News, Altcoin News, Bitcoin Service, Ethereum, Litecoin, News teaser, Technology
0
Advertisement

The market demand for cryptocurrency ATMs has grown rapidly. Cryptocurrency owners need ATMs to quickly exchange and spend their invested cash when they need to, and the competition between cryptocurrency ATM providers is heating up.


Cryptocurrency ATMs: The Stats

The number of Bitcoin[coin_price] ATMs quadrupled across 2017 according to Statista and is still rising.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

Number of Bitcoin ATMs worldwide from January 2016 to April 2018 (Source: Statista)

The first cryptocurrency ATM was installed in a coffee shop in Vancouver in 2013 and, according to data from coinatmradar.com, there are now 3502 Bitcoin[coin_price] ATMs in operation globally.

Over half of current cryptocurrency ATMs support at least one altcoin as well as Bitcoin[coin_price]. 49% offer Litecoin transactions and 32% offer Ethereum. The average fee for using a cryptocurrency ATM transaction is around 8%.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Cryptocurrency ATM makers are thriving, opening up a further new channel for cryptocurrency investors and capital inflow to the cryptocurrency ecosystem.

Genesis Coin has a 33% share of the ATM market followed by General Bytes at 26%.  General Bytes says it has sold 1,700 ATMs in 53 countries, since 2014.  EasyBit, founded in 2013, has 60 ATMs in operation.

Coinatmradar estimates new cryptocurrency ATMs are being installed around the globe at a rate of nearly 9 per day. At this rate, there will be nearly 5000 cryptocurrency ATMs in operation by the end of 2018.

The need for cryptocurrency ATMs is driven by cryptocurrency users, some of whom prefer to avoid centralized financial institutions like banks.

Demand for Cryptocurrency ATMs

The need for cryptocurrency ATMs is driven by cryptocurrency users, some of whom prefer to avoid centralized financial institutions like banks. Other cryptocurrency users are just looking to access tied up assets quickly while on the move. By allowing withdrawals in fiat, from cryptocurrency balances, cryptocurrency ATMs permit exactly that.

Mike Dupree, CEO of ATM makers EasyBit, says his firm is targeting customers already using cryptocurrencies and that building customers outside of this niche is a challenge. Dupree recognizes that the fall in cryptocurrency prices and regulatory concerns affects the market, but predicts:

The beauty of cryptocurrencies is that you don’t have to trust a financial institution to back your wealth. Decentralization is the future, and regulation will eventually fall in line.

In July 2018, Malta saw the installation of its first two way Bitcoin[coin_price] and Litecoin cryptocurrency ATM by Maltese ATM startup Moon Zebra.  

Have you used a cryptocurrency ATM? Do you have, or need one, in your town or city?


Image Source: Shutterstock, Statista

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Melanie Kramer

Melanie Kramer

Related Posts

Litecoin Adoption Accelerates, Outpaces Ethereum In Total Addresses

Litecoin Adoption Accelerates, Outpaces Ethereum In Total Addresses

5 days ago
Ethereum

Ethereum Staking Service Providers Make Up Over 70% Of Staked ETH Supply

6 days ago
Korean Financial Services Commission Chair Announces Security Tokens

Korean Financial Services Commission Chair Announces Security Tokens

1 week ago
Litecoin

Litecoin Hashrate At New All-Time High, Good Sign For Price?

1 week ago
Ethereum

Ethereum Total Validators Surpasses 500,000 As Shanghai Upgrade Draws Near

2 weeks ago
bitcoin and ethereum

Bearish Signal: Bitcoin, Ethereum Profit-Taking Reach 2021 Levels

2 weeks ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Is Aptos (APT), Solana (SOL), or Snowfall Protocol (SNW)...

    7 hours ago
  • Hector Network launches its NFT marketplace on Fantom...

    7 hours ago
  • Fantom (FTM) launches ecosystem vault to finance dApp...

    7 hours ago
  • Esports Driving the Advancement of Cryptocurrency in Sports...

    22 hours ago
  • Connecting the dots on $PAW. Is Ryoshi back?

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.