Bitcoin ATMs Growing Exponentially

Five years ago no one knew what a bitcoin ATM kiosk was, or how it would work. Today there are over 4,100 crypto ATMs in 75 countries around the globe and that number is expanding quickly. Nearly all of the machines support bitcoin (BTC), and more are beginning to support bitcoin cash (BCH) and other cryptocurrencies. The majority of these machines are located in the United States, but they are expanding throughout Europe, Latin America, and Asia. Source: Bitcoin Exchange Guide

The United States currently has over 2,400 bitcoin ATMs, and Canada has the next largest presence with 705, giving the North American continent over 70% of the world total. Austria has 267, the United Kingdom has 214, Spain has 80, the Czech Republic has 65, Australia has 54, the Russian Federation has 48, Switzerland has 45, Italy has 39, Slovakia has 37, Hong Kong has 32, Romania has 28, Poland has 28, Colombia has 27, Netherlands has 24, Finland has 22, Greece has 20, and the rest, with anywhere from 1 to 14 locations, are showing up in 60 other countries. New bitcoin ATMs are being installed at the average rate of 6 per day.

Not all bitcoin ATM operators are the same, and some don’t require an ID in order to make transactions. Coinsource is proud to not only be fully compliant with all regulations involving bitcoin ATM operations, but is also the only bitcoin ATM operator in the world to be licensed by the New York Department of Financial Services. Coinsource is the only operator requiring ID that is capable of allowing remote enrollment from your smartphone. What this means is that you can create a Coinsource account from anywhere with your smartphone without having to be in front of a bitcoin ATM kiosk.

Coinsource is the leading operator of bitcoin ATM kiosks with over 200 machines in the United States. The company is planning international expansion in 2019, as well as making significant new machine installations in many U.S. states. Coinsource is rolling out its new in-house software stack, which is capable of faster, easier bitcoin transaction confirmations, as well as potential integrations with bill pay and other digital currency buy and sell functionality.