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Bitcoin ATM Machine Hits 17,000 Globally

Bitcoin ATMs are increasingly being deployed in many parts of the world with the total number of machines reaching the milestone of 17,000

Sunday, 21 March 2021

/ by Ella Rose
In the context of jobs being lost because of Covid-19, people flock to virtual money, Bitcoin ATMs also sprouted more and more. This week, Bitcoin Depot deployed 115 more trees installed across 24 US states, bringing the total number of Bitcoin ATMs worldwide to a mere 17,000, accounting for 85% in the US, followed by Canada (7, 7%) and Great Britain (1.17%).

Notably, though India is about to submit to the Government a bill banning virtual currencies, there is also a Bitcoin ATM located in the city of Gurugram, southwest of New Delhi.

In fact, Bitcoin ATMs are a generic term for a virtual money ATM, used to buy or sell virtual money in exchange for the local currency where the ATM is located. Users can also send cash from one country to another using two Bitcoin ATMs, similar to overseas Vietnamese sending remittances from abroad.

According to the statistics of Coin ATM Radar, the world currently has 42 Bitcoin ATM manufacturers and 583 units operating these trees. In addition, the whole world currently has 275,379 points that accept payments in virtual currency without the use of a Bitcoin ATM.

Bitcoin is seeing rapid growth, with the $60,000 milestone just broken last week after breaking records of $40,000 and then $50,000 in the first half of this year alone. Currently, Bitcoin is trading at $58,000 with a market cap of $1,095 billion.

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