Key Takeaways
- More than 48 crypto machines are installed daily in the USA
- Over 75 countries have ATM crypto vending machines.
- Genesis Coin is the major ATM manufacturers in the field.
The data obtained from COIN ATM RADAR on manufacturers prove that GENESIS COIN dominates this field with a market share of 40.9%, while GENERAL BYTES has approximately 24% of the market. The remaining 35% is occupied by other manufacturers, including BITACCESS, COINSOURCE, and BITSTOP.
One of the largest holders of the Bitcoin (BTC) ATM network, Bitcoin Depot, recently announced a partnership with Circle K to install cryptocurrency ATMs across the United States and Canada. Since then, this partnership has brought more than 700 newly installed Bitcoin ATMs.
Bitcoin Depot operates more than 3,500 ATMs, allowing users in the United States and Canada to purchase more than 30 cryptocurrencies, including Bitcoin, Ethereum (ETH), and Litecoin (LTC).
Daniel Polotsky, CEO of CoinFlip, an American Bitcoin ATM operator, said that ATM has proven to be one of the most convenient and fastest ways to transfer gold into Bitcoin or other cryptocurrencies.
Coinflip's network has grown rapidly, with more than 900 Bitcoin ATMs in 45 states. Polotsky said that the company installs 30 to 50 new ATMs every day and is currently expanding its business to Canada.
He added that although a bank account may be required to use a cryptocurrency exchange, only a mobile phone is needed to transfer or convert small amounts (under $900) through an ATM. The process only takes five minutes. (The rules are different depending on the operator and country).
Do you think the surge in the installation of crypto ATMs is a good development for the crypto world?
