Category Archives: Statistics

Bitcoin ATM Market Dynamics July 2017

During July 2017 bitcoin price fluctuated a lot. In the beginning of the month it fell to less than $2000 per BTC, but then quickly gained back and month closed at roughly $2700 per BTC, which was higher than the price of end of June 2017.

BTC price July 2017

Bitcoin ATM new locations also increased drastically over July 2017:

Period Start: 1331, Period End: 1402
Open: 112, Closed: 41, Net Growth: +71 (+5.3%)

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Bitcoin ATM Market Dynamics June 2017

During June 2017 bitcoin price stabilized at the $2500 levels. At the end of June price was $2432, which is approximately the same as it was at closing of May 2017.

Bitcoin price June 2017

While price of bitcoin stayed at highest level over history, installation of bitcoin ATMs also reached new highs during June 2017:

Period Start: 1233, Period End: 1324
Open: 120, Closed: 29, Net Growth: +91 (+7.4%)

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Bitcoin ATM Market Dynamics May 2017

May 2017 was a great month for all cryptocurrencies growth. Bitcoin also grew substantially in price ($2400 at the end of May).

Bitcoin price May 2017

This has driven a lot of new demand and new users to cryptocurrency world. New traffic to existing bitcoin ATMs incentivized new installations. Here is the stats for May 2017:

Period Start: 1158, Period End: 1236
Open: 95, Closed: 17, Net Growth: +78 (+6.7%)

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Los Angeles Bitcoin ATM Network

Los Angeles is a conglomerate of various bitcoin ATMs, which are operated by plenty of different operators. If you are in any district of the city, it is likely there will be a bitcoin ATM nearby.

Find all bitcoin ATM locations in Los Angeles.

Bitcoin ATM in Los Angeles

Los Angeles currently has 80 bitcoin ATMs installed. After NY with 86 machines, LA is the second largest conglomerate with respect to number of installed bitcoin machines.

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Bitcoin ATM Market Dynamics April 2017

During April 2017 bitcoin continued to increase in price, and reached ATH ~$1400 by the end of the month.

Bitcoin price April 2017
Blockchain.info Bitcoin price chart

Such price increase definitely led to hype in bitcoin demand. As bitcoin ATMs are one of the easiest ways to purchase bitcoins, usage of bitcoin machines also reportedly increased. To some extent it led to growth of number of bitcoin ATMs installed. The following statistics illustrate changed bitcoin machines number during April 2017:

Period Start: 1113, Period End: 1156
Open: 63, Closed: 20, Net Growth: +43 (+3.9%)

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Bitcoin ATM market concentration

Bitcoin ATM industry is relatively new, however, it develops very dynamically. There are many new players entering the market, at the same time there is definitely a trend of some major participants increasing their machine networks size. In this article we evaluate how high is the concentration in bitcoin ATM industry w.r.t. manufacturers and operators. For assessment we look at top 3 countries with highest number of bitcoin ATMs installed: United States of America, Canada and United Kingdom.

Concentration indexes

For the purpose of this article three types of indexes are used:

  • Concentration ratio 3 (CR3) – market share controlled by top 3 manufacturers or operators;
  • Concentration ratio 5 (CR5) – market share controlled by top 5 manufacturers or operators;
  • Herfindahl index – is a concentration index, which is calculated as a sum of squared market shares, and gives more weight to the situation with dominance of a single or small group of companies.

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1000 Bitcoin ATMs

While bitcoin price fluctuates around $1000, on 16th February total number of bitcoin ATMs installed in the world reached 1000 locations.

1000 bitcoin ATMs

This is perfectly in line with our rough prediction made more than two years ago based on comparison of traditional bank ATMs growth in its infancy with bitcoin ATMs growth.

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Bitcoin ATMs in the U.S.

Visit the following page to find all bitcoin ATM locations in the U.S.

Bitcoin ATMs are spreading quite fast since the end of 2015 and beginning of 2016. Although the most useful application of bitcoin machines could be in the developing countries where financial inclusion is low, the majority of bitcoin ATMs are still appearing in developed countries.

Quick look at bitcoin ATM aggregated stats shows that 63% of all bitcoin machines are in North America and 25% are in Europe. Taking into account 5% in Oceania (mostly Australia) means almost 95% of all machines are in developed countries. There are several reasons for this. Costs for bitcoin ATMs might be quite high for average businessmen in developing country with respect to risk of operating and running it. Also return on investment required can be achieved only in locations with relatively large user base and steady bitcoin usage (mostly in developed countries as of now), which results in transaction volume for such machines.

Bitcoin ATM in the U.S.

Leading country within the developed countries list with respect to bitcoin ATM adoption is the United States. As of the end of March 2016 it has roughly 280 bitcoin ATMs installed across the country, which comprises ~45% of all installations worldwide.

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Bitcoin ATM Trends in 2015

Bitcoin ATM industry matures and it is now more than 2 years passed after the first bitcoin ATM installation. Let’s look at what were the most prominent events and trends in bitcoin ATM sphere during 2015 year.

Growth continued

Although there was a slower growth compared to the previous 2014 year it was still a significant increase in number of bitcoin ATM installations. Number of bitcoin ATMs worldwide grew from 330 to 536 bitcoin machines.

Bitcoin ATM 2015 growth

The speed of bitcoin ATM installations increased at the very end of the year (jump on the chart in December 2015). Important that new installaitons number was approximately similar to 2014 year, however, in 2015 we see a closure of more machines as well as more reshuffling happens (new locations for old machines). For comparison, in 2014 there were 43 locations delisted from the site, while in 2015 the number of closed locations increased to 183. Continue reading