Number of Bitcoin ATMs Globally Records 500% Increase From 2016

A new data released by Statista shows that there are currently 5,457 Bitcoin ATMs around the world, a development which perhaps indicates an increased adoption of digital currencies, especially Bitcoin (BTC).

As per the data accounting for the number of Bitcoin ATM installed from 2016 to 2019, a total of 757 ATMs were installed as of 2016. Fast forward to 2019, however, that number increased by over 500% with at least 5,457 Bitcoin ATMs now functioning globally.

Following more cryptocurrency activities in the United States, ranging from denied Bitcoin ETF proposals, ICO boom-bursts and more, the report notes that the country has the highest number of Bitcoin ATMs. A massive 62.3% of all of them are in the USA with 3,678 locations.

The list also includes Canada with 707, the United Kingdom with 274, Austria with 252, Spain with 94, and Switzerland with 73.

The data interestingly indicates a significant performance of Bitcoin, despite its ups and downs in price level; trading below and slightly above $10,000 in recent weeks.

Although Bitcoin ATMs usually charge relatively high fees for transactions which sometimes cost up to 15%, it’s demand continues to surge, according to Statistica. A possible reason for the increase so far could be the fact that a Bitcoin ATM offers a more convenient and easier way to convert BTC into fiat, instead of referring back to exchanges and transferring funds to a local bank account.

Either way, the report shows that Bitcoin ATM is still not a thing for a few countries, such as Afghanistan, Algeria, Bangladesh, Pakistan, Bolivia, Vanuatu or Macedonia. While it is still uncertain why there is no single ATM found in these countries, despite the fact that they do not ban bitcoin, people from these countries reportedly prefer buying and selling BTC using sites like Paxful, Localbitcoin, Bisq.

In another report concerning crypto adoption, Dutch crypto news site, NewsBit noted an increase in Google Trends and searches for leading altcoins, Ethereum (ETH) and Ripple (XRP).