Author: Harrison Seletsky, Ryan Smith
Translator: Yu Shunsui
Summary:
- According to data from Coin ATM Radar, 1,118 Bitcoin ATMs were newly opened in November.
- The top five Bitcoin ATM manufacturers installed 929 ATMs.
- Nearly 1,000 new ATMs were opened in the United States alone.
As the prices of Bitcoin and other cryptocurrencies continue to rise, there are other corresponding factors that indicate an increase in adoption rates worldwide, such as a significant increase in the number of Bitcoin automated teller machines (ATM) available.
Crypto ATM is similar to traditional ATM in that it allows users to directly use cryptocurrency (usually Bitcoin) to trade fiat currencies.
Users can directly use machines to trade, buy or sell cash according to their needs, instead of using online exchanges.
The current Bitcoin price growth rate exceeds the ATM growth rate
, 1118 new ATMs were opened in November and 100 were closed. This resulted in a net increase of 1,018 ATMs, an increase of 8.9% from the previous month.
Compared with Bitcoin’s price growth in November, the ATM market’s performance lags behind prices. Bitcoin rose about 43% in November.
This is not a surprising statistic, because the influx of Bitcoin ATMs is usually accompanied by price increases, rather than leading to price increases. The growth rate of ATMs in December may exceed the rate of price growth.
Encrypted ATM industry
The top five ATM manufacturers are primarily responsible for this growth. Last month, another 929 ATMs were installed, accounting for more than 80% of the total open flux.
Among all the countries that operate Bitcoin ATMs in the world, nearly 1,000 new ATMs are opened in the United States. In November, the United States added 925 ATMs, surpassing the 10,000 Bitcoin ATM mark across the country.
One statistic that may be surprising is that. The number of users transacting on the Ethereum network, the launch of ETH2.0, and Ether’s dominance in market capitalization does not seem to affect Litecoin investors.
Elsewhere, Norway closed its only available Bitcoin ATM, while Brazil added the country’s first Bitcoin ATM in São Paulo.
