Tag Archives: growth

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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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 2016 recap, trends for 2017

Another year has finished. Now it has been a little more than 3 years since first permanent bitcoin ATM installation in Vancouver. What has year 2016 year brought to bitcoin ATM industry, what has changed, what are the latest trends…

Geography

Bitcoin ATMs are installed around the world, however, most of them have high geographic concentration. The following chart illustrates bitcoin ATM installations split by continents for the last 3 years (year end is taken as a data point for each year):

Bitcoin ATMs by Continent

Latest data can be found on the charts page.

As it is seen North America was always dominating the market with 51% share in the end of 2014, and it grew constantly over years and reached 73% in the end of 2016.

Due to expansion of Canadian and mostly US market, Europe has lost 9% share over the same period and is at 20% of world installations currently. All the rest continents have very insignificant number of bitcoin ATM locations with a total of ~6%. In 2014 their share was ~20%.

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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 installations peaked

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.

Bitcoin ATM installations per day

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7 reasons why bitcoin ATMs are still the best way to get bitcoins

This post is written by Jon H. — just another enthusiast helping take bitcoin mainstream.

As Bitcoin’s awareness expands, more and more people are turning to Google to learn about what Bitcoin is and where they can get some. I think all too many of us know that there is way too much friction to getting your first Bitcoin, so here’s 7 reasons why I think Bitcoin ATMs are still one of the best ways to get yours.

Bank and Bitcoin ATM

1. Familiarity

People are looking for a way to buy Bitcoin for the first time will likely stick with what they are familiar with. Although Bitcoin ATMs are nothing like regular ATMs, the basic interface is somewhat similar. A human walks up to a machine and interacts with a screen to deposit or withdrawal money of some sort. People don’t want to get all caught in some sort of weird hassle where they have to fill out extensive forms or meet obscure people in sketchy places or attach bank account to online exchanges. People want to go put $20 into a machine that is similar to machines they already know and get some of “this Bitcoin thing”. Bitcoin ATMs are a great face for the first time Bitcoin buyer all the way to the seasoned cypherpunks simply for their very familiar interface.

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Bitcoin ATMs industry overview after 2 years since first launch

It’s been two years since the first bitcoin ATM went live in Vancouver, Canada on 29th October 2013. So what has been achieved over this time and what are the current dynamics of this newly evolving market?

As it is seen on the following chart number of bitcoin ATMs is steadily increasing. However, the speed is lower compared to the first year. During the first year there were 284 bitcoin ATMs installed and in the second year only 187 new bitcoin ATM locations were added and not removed later. This is lower than we forecasted a year ago based on the growth rate of traditional bank ATMs in the beginning of 70-s. It was calculated that there will be about 562 bitcoin ATMs installed by this time, however, there are only 471 in the world.

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New bitcoin ATM locations as of 21.07.2015

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.

New York bitcoin ATM

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