3,000+ Bitcoin (BTC) ATMs Have Now Been Installed

3,000+ Bitcoin (BTC) ATMs Have Now Been Installed

In May the number of Bitcoin (BTC) ATMs that were being installed on a daily basis rose above 6 bringing the global total count of the vending machines to more than 3,000. At the beginning of last year the number of bitcoin ATMs had only just crossed the 1,000 mark. The number of bitcoin ATMs also grew despite the decline in the price of the flagship cryptocurrency after reaching record highs late last year. As the number of Bitcoin ATMs has grown so has the ratio of two-way vending machines which allow users to both buy and sell digital currencies. Currently the share of these vending machines now stands at more than 35%.

Despite the rising number of the cryptocurrency vending machines 99.99% of all the ATMs support the flagship virtual currency with only half supporting other digital coins. The most popular alternative cryptocurrency in this regard is Litecoin (LTC) which is supported by around 47.8% of bitcoin ATMs. Ethereum (ETH) on the other hand is supported by around 28.1% of ATMs.

Other cryptocurrencies

The percentage of vending machines supporting Bitcoin Cash (BCH) is 15.9% while the figure supporting Dash (DASH) is 9.3%. Zcash (ZEC) on the other hand has 1.4% of the ATMs supporting it while Monero (XMR) has support in 1.2% of the vending machines. All other virtual currencies have less than a percentage point in support each. Most of the Bitcoin ATMs are located in North America where 74.9% of the cryptocurrency vending machines are to be found. Europe is in second position as it possesses 21.04% of Bitcoin ATMs while Asia is third with 1.92%. In terms of countries the United States has the highest number of Bitcoin ATMs as it boasts of more than 1,800 vending machines. Canada is in second position with 477 machines and Australia is third with 174 bitcoin ATMs.

Bitcoin ATM manufacturers

With regards to hardware manufacturers Genesis Coin is the leading maker of Bitcoin ATMs with a market share of 34.37% while General Bytes comes second with a 27.49% market share. Lamassu is in third position with a market share of 11.23%.

This comes in the wake of reports indicating that the metro system of Prague, Czech Republic, now boasts of ten bitcoin ATMs which are spread across various stations. General Bytes which is actually a Czech firm is responsible for installing the ATMs. Across the globe the number of Bitcoin ATMs that General Bytes has installed is around 861. Currently the number of bitcoin ATMs installed in the Czech Republic is 46.