Number of ‘crypto ATMs’ around the globe soars past 5000

The total number of cryptocurrency-dispensing ATMs across the globe has reached a peak of five thousand (5,006), according to a reputed news source. Statistics reveal that around six new Bitcoin ATMs were erected per day over the past month or so.

The market for crypto ATMs is stronger in the west than anywhere else, with the U.S. taking the lead in the total number of crypto vending machines. The nation has over thirty-two hundred (3200) Bitcoin ATM points, accounting for sixty-four percent (64%) of the entire globe’s. Canada, the nation where the globe’s first ever such machine was erected, came in second, boasting over six hundred and eighty (680) crypto ATM points.

When taking into the tally Mexico and other nations in the area, North America is home to seventy-four percent (74%) of all such ATMs in the world. The more intricate analytics reveal that there was a boom in ATM installations after crypto prices tumbled following the end of 2017.

The dominant firm in the crypto ATM installation business has been General Bytes, which has raised fifteen hundred and fifty (1550) ATMs, followed by Genesis Coin, which has covered almost fifteen hundred (1497) locations. Lamassu, which has raised ATMs in a little short of four hundred and fifty (439) locations, comes third.

This new milestone comes in the wake of increasingly pessimistic public attitudes surrounding these machines, owing to their facilitation of crypto frauds. In Australia, these machines happen to be the most common medium through which scam payments occur.

Crypto machines have also borne clampdowns from state authorities. In 2018, India’s first cryptocurrency ATM had been seized by the authorities owing to regulatory restrictions. And in the same year, Russian authorities took control of twenty-two (22) machines following instructions by the country’s Central Bank.

The attitudes back in Canada, where the first such machine had been erected, has also been turning negative. Earlier on in June, Vancouver’s mayor pushed for a ban on these machines with the goal of cutting down crypto related malpractices.