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Crypto Market Crash Not Stopping Global ATM Growth

Ofer Sharon
23 December, 2018
1 min read
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The number of crypto ATMs is constantly on the rise, according to a recent report.

 

Statistics by Coin ATM Radar indicate that the number of cryptocurrency ATMs doubled in 2018, from 2,025 to 4,051, despite the bearish market.

Bitcoin ATM Installations Growth. coinatmradar.com.

Bitcoin ATM Installations Growth. coinatmradar.com.

The month of November saw the entire crypto market lose billions of dollars in market cap. But even that did not stop the growth in ATMs. Over 200 new machines were installed in November alone. With only 68 ATMs closed, that’s a net growth of 3.6 percent.

"Unlike the downward trajectory in price, the number of new machines continued to grow at approximately the same rate as in October."

Bitcoin ATM Market Dynamics November 2018. coinatmradar.com
Crypto ATM Number Net Changes. coinatmradar.com.

Crypto ATM Number Net Changes. coinatmradar.com.

Bitcoin, the number one coin by market cap, is also the most common coin in terms of service by ATMs, with over 4,000 machines globally supporting Bitcoin. But other altcoins are also supported at some ATMs, including Ethereum, Litecoin, Bitcoin Cash, and Dash.

 

There are crypto ATMs currently spread across 70 countries, all around the world, with the majority concentrated in the U.S., Canada, and Europe.

Bitcoin ATM Map. coinatmradar.com.

Bitcoin ATM Map. coinatmradar.com.

Coin Cloud and Coinsource are the leading ATM operators, with around 200 ATMs each. The largest manufacturers are General Bytes and Genesis Coin with over 1,000 ATMs each.

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