- The number of bitcoin ATMs worldwide exceeds 27,000
- Over 25,000 Bitcoin ATMs in the US and Canada
- There are around 300 such kiosks across Asia.
- The total number of bitcoin ATMs in Africa is only 20.
Cryptocurrencies like Bitcoin are increasing in popularity around the world and with it the number of crypto ATMs is also increasing. 27,095 worldwide according to coinatmradar.com bitcoin atm (Bitcoin ATM). In India too, the number of bitcoin investors has increased rapidly but there is not a single bitcoin ATM in the country. The first crypto ATM in the country opened in 2018 but was closed within a week.
North America has the largest number of bitcoin ATMs in the world. There are over 25,000 bitcoin ATMs in the US and Canada. There are about 1500 such ATMs in Europe. Their number is only 133 in South and Central America. El Salvador, the country that recognizes bitcoin as a legal currency, is in this area. There are only 4 such kiosks in El Salvador. The number of such kiosks in Asia is around 300. They are 154 in East Asia and 66 in West, Central and South Asia. The total number of bitcoin ATMs in Africa is 20.
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India’s first crypto ATM
Crypto ATMs opened very early in India. This was the period when bitcoin started showing its sheen in the cryptocurrency market. A crypto ATM is a kiosk through which a person can buy bitcoin and other cryptocurrencies with cash or debit card. The first crypto ATM in India was opened in 2018 at Kempfort Mall on Old Airport Road, Bangalore. There was a minimum deposit and withdrawal facility of 1000 rupees. It was installed by the country’s blockchain solutions company Unocoin. But after a week it was confiscated by the government. This was done due to the restrictions of the Reserve Bank.
There are two types of crypto ATMs around the world. Users can only purchase crypto through unidirectional ATMs. Unidirectional ATMs account for 70 percent of the total ATMs in the world. Bidirectional ATMs are used to buy and sell different types of crypto. Transaction fees of bitcoin ATMs range from 10 to 20 percent but sometimes it can reach up to 25 percent. Due to changes in the economic policies of many countries around the world, many ATMs are not working. There are many countries in the world where there is only one ATM.
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