Our last review covered September through November. Now we will take a look at the first month of the new year. The price of Bitcoin steadily soared to record highs through the first half of December. After peaking at $19,499, volatility has been the norm since then. The price of Bitcoin has seen sharp rises here and there, but overall for the month of January, it has progressively declined in value. In spite of the downward trajectory, the price of Bitcoin still remains high when compared to previous years.
The growth rate has remained steady for new machines.
Period Start: 2025, Period End: 2153
Opened: 149, Closed: 21, Net Growth: +128 (+6.3%)
Beyond noting the continued and steady increase of new machines, it is also important to highlight that in course of a year the total number of machines has approximately doubled.
Change by Manufacturers
|Genesis Coin||732||766||+34 (4.6%)|
|General Bytes||561||592||+31 (5.5%)|
|BTC facil||22||23||+1 (4.5%)|
January saw nominal growth for top two producers General Bytes and Genesis Coin. Genesis Coin had 34 installations (4.6% increase) while General Bytes added 31 new machines (5.5% increase.) The largest growth in terms of percentage for the month of January was from BitAccess, who installed 26 new machines, which represents a 45.6% increase. BitAccess is a Canadian company and this month’s installations have kept Canada ranked second only to the United States for both machines installed for the month, as well as total machines.
Towards the end of January Coinsource announced that it will be switching from third party software to its own in house version that will improve efficiency. Additionally they announced that for 2018 they plan to add 400 machines in the United States, expanding into 25 new states. Over the month of January Coinsource had larger than average 10.9% growth in installed machines.
Coinme and BitTeller were the only two companies to see decrease this month, each losing one machine.
Change by Operators
Operators who increased number of machines by 3 or more locations over the past month:
|Pay DEPOT LLC||63||73||+10 (15.9%)|
|Cottonwood Vending (CoinBTM)||47||54||+7 (14.9%)|
|Coin Nation ATMs Inc||3||8||+5 (166.7%)|
|Bitcoin Depot||100||104||+4 (4%)|
|Cointed GmbH||73||76||+3 (4.1%)|
|CoinFlip Bitcoin ATMs||33||36||+3 (9.1%)|
|Bitcoin Solutions||15||18||+3 (20%)|
|Blockchain BTM||11||14||+3 (27.3%)|
|Pelicoin LLC||8||11||+3 (37.5%)|
|TAO BITCOIN LLC||3||6||+3 (100%)|
|Premier Bitcoin ATM||2||5||+3 (150%)|
CoinCloud had the most installations, adding 26 new machines, which represents 89.7% growth. CoinSource maintained its position as having the highest total number of machines. The month saw them installing the second highest amount of machines, a total of 15. These two companies in addition to Pay Depot LLC were the top three for the month, and all are based in the United States. Coming in fourth, Canadian company Instacoin added 10 new machines.
Change by Countries
|United States||1187||1281||+94 (7.9%)|
|Russian Federation||10||11||+1 (10%)|
|Hong Kong||10||7||-3 (-30%)|
The overall growth by operators still has the majority of Bitcoin machines in North America, with United States and Canada having the most machines installed for the month as well as total machines overall. Austria added 7 machines for the month. Mongolia had its first machine installed in January. The machine is from leading manufacturer Genesis Coin.
Find latest stats of other cryptocurrency machines here.
Altcoin support saw the following increases over the past two months:
|Any altcoin||596||937||+341 (+57.2%)|
|Bitcoin Cash||32||116||+84 (262.5%)|
The volatility and downward trajectory of cryptocurrency prices did not stop the steady growth of Altcoin adoption onto Bitcoin machines. At the end of January 44% of all machines supported at least one of altcoins. Litecoin saw the greatest increase in terms of overall number by machine (+339). Bitcoin Cash was added on 84 machines, which is much lower than Litecoin adoption growth, however larger than Ether’s (+67). Fair to say that largest manufacturer Genesis Coin supported only Litecoin as altcoin for long time. Ether support was added only at the beginning of February 2018, and Bitcoin Cash is not supported now. So even when operators would like to add other altcoins, they are limited and choice.
December and January were tremendous months in the world of cryptocurrency. Prices for Bitcoin and many alt coins hit record highs after steady growth and growing mainstream coverage of cryptocurrency. After experiencing surging prices, the market has experienced quite a bit of volatility as well as declining prices. These two things have not affected the steady and continued growth of machine installation. As companies continue to improve the software for the machines and more exciting developments happen in the field of cryptocurrency, we can expect to see similar growth in the coming months.