While bitcoin price fluctuates around $1000, on 16th February total number of bitcoin ATMs installed in the world reached 1000 locations.
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.
With bitcoin price rise the speed of bitcoin ATM installations also accelerated as there is a spike in number of bitcoin ATMs appeared in the last two weeks. Bitcoin ATM operators probably had to pre-order machines quite a while ago, so it is more a thorough calculation based on expected transaction volumes and potential growth. But as bitcoin machines are installed in many places and by independent operators – this fact shows that running a bitcoin ATM is a profitable business.
Last week brought several new installations to our bitcoin ATM map.
Bitcoin ATMs in United States
There were three new bitcoin ATM added in United States.
Cottonwood Vending operator added its sixth location in New York area. Now satoshi1 one-way bitcoin machine was installed in Harlem, NY at Apollo Deli & Fruit. This ATM allows quickly buying bitcoins. Online prices for this ATM are available at given above link, machine charges on average 8-12% fee above market rate. The ATM has additional bulk note acceptor, which means it can easily handle huge packs of paper money and convert it into real money of future in seconds.
Bitcoin ATMs appeared first in 2013 and since then increased their presence in many countries around the world. At the moment there are 341 bitcoin ATM installed according to our bitcoin machines map.
Bitcoin ATM is one of the fastest ways to get into bitcoins and sell bitcoins for cash in case it supports two-way operations. But in parallel there are many more physical locations, where you can buy bitcoins for cash or sometimes sell. Those services are usually based on the existing infrastructure be it ATMs network, stores chain or agent offices. Here is a list of such services, usually every of them is targeting some geographical local market. Continue reading
During this week there were 1.58 bitcoin ATM installed per day on average. Updated information can be found on the charts page.
New ATMs were installed in United States (+4), Canada (+3), Italy (+2), Finland (+1) and Netherlands (+1).
World of Vapor in Indianapolis became home for Skyhook machine. Another Skyhook machine was installed in Milwaukee at 414 Glass & Grooves. The machine doesn’t support KYC procedures however the owner of the shop writes down the ID details of the customers.