Bitcoin ATMs are exploding worldwide, new data from Coin ATM Radar shows.
From just 7,756 in May 2020, teller machines supporting cryptocurrencies balloons to 19,452 as of May 2021.
The majority of the machines are located in the US. The number of crypto ATMs installed in the country is now 16,378, up from just 5,635 in May 2020.
According to Bitcoin Depot it has already installed over 2,500 crypto ATMs worldwide, most of which are located in the US. Last month alone, it launched 355 new machines in the US and now expects growth of 200% this year.
The Atlanta-based company credits the surge of crypto ATMs to the increasing popularity of cryptocurrency transactions and digital assets going mainstream.
In Canada, Coin ATM Radar says Bitcoin ATMs increased from just 718 last year to 1,362. Europe also saw an increase in installations from 1,142 to 1,306 over the same one-year period.
Installations in the UK are declining, though. From 274 in May 2020, the country now has only 181 crypto teller machines.
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