Data presented by cryptocurrency trading simulator Crypto Parrot indicates that as of February 2021, the number of Bitcoin ATMs worldwide had grown by 129.48% in the last 12 months, from 6,759 to 15,511.
As of February 2019, the number of Bitcoin ATMs globally was 4,284, a growth of 92.36% from a similar period in 2018 when the ATMs were at 2,227.
The Crypto Parrot findings further reveal that as of February 2021, based on a global population of 7.8 billion, one Bitcoin ATM would serve 505,856 people. The figure represents a Bitcoin ATM penetration growth by 15.65 times from 2017 where one machine served 7.8 million people.
In February 2020, one Bitcoin ATM would serve 1.16 million people, while during a similar period in 2019, one machine would service 1.83 million people. In February 2018, one Bitcoin ATM would serve 3.52 million people. The analysis also calculated the global Bitcoin ATMs penetration per 100,000 citizens wherein 2017, the figure was at 0.0126, while in 2021, it’s at 0.1977.
Bitcoin rally fuelling ATMs installations
The report gave perspective to the Bitcoin ATM growth across the world. According to the research report:
“Bitcoin ATMs are also playing a vital role in adopting the asset as the cryptocurrency sector matures. There has been an influx of new investors acquiring Bitcoin with ATMs capitalising on this surge. The ATMs have made it easier to own Bitcoin as they are characterised by simplicity and personalised service. In general, these ATMs have an edge due to speed and ease of use as people do not need to be tech-savvy to operate a machine.”
With the increase in Bitcoin ATMs, the machines are becoming increasingly accessible to most people. This is a boast to cryptocurrency proponents who believe the sector will unlock the global unbanked population’s potential.
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