The number of Bitcoin ATMs has been steadily growing in recent years, with a sharp rise in 2021. At the beginning of last year, there were slightly over 14 thousand Bitcoins ATMs worldwide, with 11 470 in the United States, 1041 in Canada, and 1236 in Europe, according to stats provided by the CoinATMRadar.com website. On November 8, the respective numbers are as follows: 38,817, 33,868, 2579, and 1478. Compared to January 2021, the number in the worldwide category has grown by 270%.
The curve has flattened a bit in 2022, with the net number of Bitcoin ATMs dropping globally for the first time in September after reaching 38,866 – an all-time high – in August. But in October, the growth picked up again, although not all markets have been doing equally well.
Europe has been significantly lagging behind the US and Canada, with some regional markets taking a nosedive against the backdrop of overall sluggish growth. Such was the case with the United Kingdom, where the number of machines fell to an appallingly low level in the last two years, and Austria, where the situation has evened out after a sharp downturn in late 2019. On the other hand, Bitcoin ATM adoption levels seem steady in Spain and Switzerland.
The dynamic growth of the Bitcoin machines market is a result of the recognition cryptocurrencies have been steadily gaining worldwide. It's also been influenced by the fact that Bitcoin ATMs offer users hassle-free conversion without needing to undergo irritating KYC procedures, a standard requirement on crypto trading platforms.
