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More than 1,000 new bitcoin-ATMs appeared in the world in November

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More than 1,000 new bitcoin-ATMs appeared in the world in November

More than 1,000 new bitcoin-ATMs appeared in the world in November
CONTENT

  • According to Coin ATM Radar, 1,118 new bitcoin ATMs were installed worldwide in November.

  • Of these, 929 terminals were installed by the five leading Bitcoin ATM manufacturers.

  • Nearly 1,000 of these new ATMs are now in the US.

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A significant increase in the number of new BTC ATMs over the past month has become another evidence of the increasingly massive adoption of bitcoin in the world..

More than 1,000 new bitcoin-ATMs appeared in the world in November

Amid an active rally in Bitcoin (BTC) and other cryptocurrencies, the interest of the general public in the crypto space continues to grow. One of these factors, which speaks of the more massive adoption of Bitcoin, was the appearance in November of a large number of new BTC ATMs..

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Cryptocurrency ATMs are devices similar to traditional ATMs. This makes them psychologically habitual for inexperienced users and helps to build a kind of bridge in the minds of people between traditional and digital finance..

In a practical sense, such ATMs enable direct transactions between cryptocurrencies (usually bitcoin) and fiat currencies. They are an alternative to online exchanges and allow you to buy or sell digital currency for cash directly through the terminal.

ATMs are fast, but bitcoin is even faster

More than 1,000 new bitcoin-ATMs appeared in the world in November

According to the Coin ATM Radar resource, 1,118 new ATMs were installed in the world in November and 100 were closed. Accordingly, the net increase in the indicator at the end of the month was at around 1,018 ATMs. On a monthly basis, the growth rate was 8.9% m / m.

Our monthly industry update is out. #Cryptocurrency #ATM industry statistics for November 2020: 1118 installed, 100 closed, +1018 (8.9%) net growth rate. More details: https://t.co/D6I3elVw4D pic.twitter.com/LT8JrFsCOJ

– Coin 𝔸𝕋𝕄 Radar ₿ (@CoinATMRadar) December 4, 2020

Meanwhile, over the same November, bitcoin rose by about 43%. As statistics show, the increase in the number of new BTC ATMs is a lagging indicator relative to the bitcoin rate. Thus, in December, cryptocurrency terminals can continue to catch up with BTC and will spread even more actively around the world..

The five leading ATM manufacturers are behind the current growth. They installed 929 new bitcoin ATMs last month, which is more than 80% of the total..

Cryptocurrency ATM Industry

However, as the BeInCrypto editorial staff has already said, the vast majority of such terminals are still based in North America and, in particular, in the United States..

This trend continued in November, with nearly 1,000 new ATM machines being installed in the United States. The exact figure was 925, and this increase helped the national figure cross the 10,000 mark. Recall that, as we reported earlier, as recently as September, the total number of all Bitcoin ATMs in the world reached this important psychological milestone..

Outside the United States, however, the situation is still extremely mixed. So, Norway closed its only working bitcoin-ATM, and the very first cryptocurrency terminal in the country just appeared in Brazilian São Paulo..

More than 1,000 new bitcoin-ATMs appeared in the world in November

In addition, the East Asian region, despite its status as a recognized leader in the development of blockchain technologies, is also not eager to produce bitcoin ATMs, preferring to rely on more modern and non-cash methods of online transactions..

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