Bitcoin Leads the Cryptocurrency ATM Market

fiona November 22, 2018 No Comments

Bitcoin Leads the Cryptocurrency ATM Market




Bitcoin is going to be the best opportunity for innovation and for the explosion of productivity and GDP, which the world has seen since the industrial revolution.

Bitcoin is the world’s first crypto-currency: it’s Peer-to-Peer which makes it unique. Now the team comes up with the idea of a Bitcoin ATM when noticing the difficulties that many people had to get Bitcoins.

The market for Bitcoin and other cryptocurrencies is increasingly widespread and popular globally. With an enthusiastic ecosystem, companies dedicated to its development, governmental authorities willing to regulate legally and nations that have already legalized their use.

The Growth of Bitcoin ATMs

It is due to this progressive but impetuous growth that every day there are more ATMs that provide services for the purchase and sale of cryptocurrencies around the world, with about 1392 ATMs distributed in 57 countries currently and a growth of 7.4% only in the month of June.

According to statistics of Bitcoin ATM Radar, in the month of June 2017, the ATM industry of cryptographic currencies beat the record by adding 91 new machines to those that already served, exceeding the best numbers that had been registered so far 78 new ATM for the month of May.

The monthly growth was 7.4%, a proportion that is immensely greater than the number of installations made in a month for the 2013-2014 periods, the platform stands out.



Bitcoin ATMs Manufacturing Market

As per Coin ATM Radar, Genesis Coin ATMs proliferate in the balloon reaching the amount of 648 installed and operational. As for the Bitcoin ATM manufacturing industry, the statistics show the Genesis Coin company leading the monthly market with some 648 ATMs operating worldwide, followed by the General Bytes Company that managed to reach 248 ATMs adding this month 27 new machines.

However, not all companies were able to extend services, since the BitAccess firm lost the operation of one of its ATMs, reducing its machinery to 47 units. On the other hand, the company Shyhook closed 2 ATMs reducing its market by 10% and Coinplug, a Korean manufacturer, closed operations of its only installed ATM.

Bitcoin ATM Radar highlights that for this month there was a greater concentration of manufacturing in the Canadian market. They also point out that for the company Genesis Coin continues to lead the installation of ATMs in the United States, in the case of the United Kingdom General Bytes takes the position and in Canadian territory, Lamassu is the one that best positions itself.

The market of operators

Bitcoin is indisputably the cryptographic currency with the most ATMs in the world. However, who gave the surprise this June was the Litecoin alternative currency that grew by 127.3% when 55 new machines were added to its services, reaching a total of 91 localized ATMs.

Therefore, what they did was to find out what the community needed and where they should position themselves to grow. Bitcoin was awakening a lot of interest, and many people wanted to acquire at least a few Bitcoins.

So Bitcoin said that they have to bring these devices to the people, so that everyone can buy Bitcoins easily and also to offer the possibility of buying and selling Bitcoins anonymously, without having to meet strangers in a bar.

In this way, people approach the machine knowing that there will be no records of the transaction and that no one will ask impertinent questions, to obtain Bitcoins or cash in exchange for their Bitcoins.

In this way, little by little, Bitcoin and other cryptocurrencies are reaching new levels and this step will undoubtedly be decisive for the future of crypto actives in the world economy.



Article shared by Fruxinfo digital agency based in New York.

Categories : Cryptocurrency