Every hour, a new vending machine for buying and selling Bitcoin (BTC) with cash is installed around the world. Although the growth of the sector is considerable, France remains one of the worst performers in Europe.
Bitcoin ATMs are growing like mushrooms
According to data from the Coin ATM Radar website, the deployment of cryptocurrency distributors is growing at breakneck speed. To date, the estimated number of ATMs for buying and selling Bitcoin (BTC) and other altcoins with cash is estimated at 11,697 units .
Compared to last year, the number of Bitcoin ATMs has increased by nearly 80% , with 6,372 ATMs having been identified as of January 1, 2020.
At the time of writing, Coin ATM Radar estimates that 23.4 new Bitcoin ATMs are installed every day , or practically 1 per hour . In 2019, approximately 11 vending machines were popping up every day.
If such a pace continues for 2021, more than 20,000 Bitcoin ATMs will most likely be in operation worldwide before 2022.
However, the Bitcoin ATM market remains quite fragile. In particular, it faces numerous regulations, increasingly restrictive, which slow down the development of these machines.
France, the bad pupil of Europe?
To date, France is one of the least welcoming countries for Bitcoin ATMs. Only 12 distributors have taken up residence in the region . This places France far behind all of its neighbors, such as Switzerland (103 ATMs), Germany (38 ATMs) and Belgium (36 ATMs).
France ATM Bitcoin
Unsurprisingly, the United States leads the way in terms of numbers. The growth of the sector in this country is considerable compared to Europe. Currently, 9,475 of the 11,697 cryptocurrency distributors are in the country.
In 2019, the United States had only 4,213 ATMs , but Bitcoin quickly took its place, in places ranging from independent stores to one of Tesla’s factories.
This significant growth of cryptocurrency ATMs in 2020 demonstrates that there is a demand for this type of service, a sign of the growing acceptance of Bitcoin on all fronts.