The number of bitcoin automated teller machines (ATMs) has surged in accordance with the development of the cryptocurrency industry. The first such machine saw the light of day in October 2013. Needless to say, the industry has expanded by leaps and bounds since then, propelling massive interest and, in turn, more ATMs.
Currently, there are 39,678 such devices spread across 84 countries, with over 85% located in the United States of America.
An Overlook of the Map
According to the latest data, bitcoin ATMs are predominantly situated in North America. The world’s leading economy – the USA – is home to 34,298 of them, as their number is the highest in the country’s financial hubs – New York, Los Angeles, and Miami. The northern neighbor – Canada – ranks second with 2,704 ATMs.
The next to complete the top 5 are Spain (270), Poland (214), and El Salvador (212). It comes without surprise that the small Central American nation found its place among the leaders since it became the first country to make bitcoin legal tender.
It is worth observing the situation in Asia. The highest density of BTC ATMs is in the special administrative region of China – Hong Kong – where one could find 154 machines. For its part, Japan had zero devices on its territory for more than four years.
The domestic authorities shut all crypto ATMs at the beginning of 2018 when hackers attacked the digital asset platform Coincheck. In August this year, though, they softened their stance and allowed the installation of a few devices in Tokyo and Osaka.
Interestingly, Singapore, which aims to become a cryptocurrency hub, has no bitcoin ATMs. The nation’s top financial regulator – the MAS – banned the cash-to-crypto terminals as part of a broader crackdown on promoting digital currencies to the public at the beginning of the year.
Kazakhstan – the country that accounts for over 13% of the global mining hashrate – has only one BTC ATM, while
