{"id":1663,"date":"2017-12-02T20:10:47","date_gmt":"2017-12-02T20:10:47","guid":{"rendered":"https:\/\/coinatmradar.com\/blog\/?p=1663"},"modified":"2020-02-09T16:09:55","modified_gmt":"2020-02-09T16:09:55","slug":"bitcoin-atm-market-dynamics-september-november-2017","status":"publish","type":"post","link":"https:\/\/coinatmradar.com\/blog\/bitcoin-atm-market-dynamics-september-november-2017\/","title":{"rendered":"Bitcoin ATM Market Dynamics September — November 2017"},"content":{"rendered":"

Previous similar review was about August<\/a>. Filling the gap of 3 months in this post we cover what are the main changes in bitcoin ATM statistics over last 3 months: September — November.
\nThere was a drastic change of bitcoin price over this time, it grew from $4912 in beginning of September to $10884 at the beginning of December (more than 2x growth).<\/p>\n

\"Bitcoin<\/a>
Bitcoin Price End of November 2017, source: blockchain.info<\/figcaption><\/figure>\n

Demand for buying cryptocurrency supported the installations of new machines and new operators entering the market. Here are general figures for 3 months:<\/p>\n

Period Start: 1514<\/strong>, Period End: 1890<\/strong>
\nOpened: 519<\/strong>, Closed: 143<\/strong>, Net Growth: +376 (+24.8% or 7.6% per month)<\/strong><\/span><\/p><\/blockquote>\n


\nGrowth rate continued to stay at high levels of 7.6% per month. During three months there were 4 new countries, where bitcoin machines were installed for the first time: Costa Rica<\/a>, Cyprus<\/a>, Aruba<\/a>, and Peru<\/a>. At the moment there are 62 countries<\/a> where at least one bitcoin ATM is operated. Fair to say that many countries still have 1, 2, or 3 machines installed, but the broad geographic coverage confirms that bitcoin doesn’t have national borders.<\/p>\n

Change by Manufacturers<\/h2>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Name<\/th>\nStart<\/th>\nEnd<\/th>\nDiff<\/th>\n<\/tr>\n
General Bytes<\/td>\n333<\/td>\n523<\/td>\n+190 (57.1%)<\/span><\/td>\n<\/tr>\n
Genesis Coin<\/td>\n592<\/td>\n687<\/td>\n+95 (16%)<\/span><\/td>\n<\/tr>\n
Lamassu<\/td>\n243<\/td>\n269<\/td>\n+26 (10.7%)<\/span><\/td>\n<\/tr>\n
Coinme<\/td>\n7<\/td>\n32<\/td>\n+25 (357.1%)<\/span><\/td>\n<\/tr>\n
Covault<\/td>\n25<\/td>\n43<\/td>\n+18 (72%)<\/span><\/td>\n<\/tr>\n
BitTeller<\/td>\n8<\/td>\n18<\/td>\n+10 (125%)<\/span><\/td>\n<\/tr>\n
Coinsource<\/td>\n126<\/td>\n135<\/td>\n+9 (7.1%)<\/span><\/td>\n<\/tr>\n
BitAccess<\/td>\n50<\/td>\n55<\/td>\n+5 (10%)<\/span><\/td>\n<\/tr>\n
Bitnovo<\/td>\n3<\/td>\n6<\/td>\n+3 (100%)<\/span><\/td>\n<\/tr>\n
zzBit<\/td>\n8<\/td>\n10<\/td>\n+2 (25%)<\/span><\/td>\n<\/tr>\n
BBFPro<\/td>\n6<\/td>\n8<\/td>\n+2 (33.3%)<\/span><\/td>\n<\/tr>\n
Bcash Greece Inc<\/td>\n2<\/td>\n3<\/td>\n+1 (50%)<\/span><\/td>\n<\/tr>\n
Kiosk Terminals<\/td>\n0<\/td>\n1<\/td>\n+1<\/td>\n<\/tr>\n
Skyhook<\/td>\n11<\/td>\n10<\/td>\n-1 (-9.1%)<\/span><\/td>\n<\/tr>\n
LocalBitcoins<\/td>\n10<\/td>\n9<\/td>\n-1 (-10%)<\/span><\/td>\n<\/tr>\n
Bitcoin D.A.V.E.<\/td>\n3<\/td>\n2<\/td>\n-1 (-33.3%)<\/span><\/td>\n<\/tr>\n
CoinOutlet<\/td>\n7<\/td>\n5<\/td>\n-2 (-28.6%)<\/span><\/td>\n<\/tr>\n
Robocoin Kiosk<\/td>\n4<\/td>\n2<\/td>\n-2 (-50%)<\/span><\/td>\n<\/tr>\n
BTC facil<\/td>\n26<\/td>\n21<\/td>\n-5 (-19.2%)<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The absolute leader in number of ATM installations was General Bytes<\/a>, who increased their machines presence by more than 57% (+190 machines). Genesis Coin<\/a>, bitcoin machine producer with largest number of machines installed, had 95 new installations or 16% growth. General Bytes is very fast moving to soon become a company with largest number of machines on the market, recently they tweeted that 1000 machines were sold<\/a>.<\/p>\n

Current pie diagram of bitcoin ATM manufacturers shares<\/a> looks the following:<\/p>\n

\"Bitcoin<\/a><\/p>\n

Fair to mention, Coinsource<\/a>, the world largest operator of machines, switched from Genesis Coin to own developed software, and now listed as a separate manufacturer. This is one of the latest trends in the industry. The operators business grew to the point when it is more profitable to develop and maintain own software and sometimes even to producer own hardware.<\/p>\n

From the top 10 manufacturers — there are three companies, who originate as operators: Coinsource<\/a>, Coinme<\/a> (Seattle based operator who is now rapidly expanding country-wide: +25 new locations over 3 months) and Covault<\/a> (which is only operated by Pay Depot).<\/p>\n

Change by Operators<\/h2>\n

Operators who increased number of machines by 10 or more locations over 3 months:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Name<\/th>\nStart<\/th>\nEnd<\/th>\nDiff<\/th>\n<\/tr>\n
Cointed GmbH<\/a><\/td>\n38<\/td>\n70<\/td>\n+32 (84.2%)<\/span><\/td>\n<\/tr>\n
Coinme<\/a><\/td>\n7<\/td>\n32<\/td>\n+25 (357.1%)<\/span><\/td>\n<\/tr>\n
RockItCoin<\/a><\/td>\n51<\/td>\n71<\/td>\n+20 (39.2%)<\/span><\/td>\n<\/tr>\n
Pay DEPOT LLC<\/a><\/td>\n25<\/td>\n43<\/td>\n+18 (72%)<\/span><\/td>\n<\/tr>\n
LocalCoinATM<\/a><\/td>\n9<\/td>\n25<\/td>\n+16 (177.8%)<\/span><\/td>\n<\/tr>\n
HoneyBadger<\/td>\n17<\/td>\n32<\/td>\n+15 (88.2%)<\/span><\/td>\n<\/tr>\n
Bitstop<\/a><\/td>\n39<\/td>\n52<\/td>\n+13 (33.3%)<\/span><\/td>\n<\/tr>\n
Digital Cash 2 Go, Inc.<\/a><\/td>\n0<\/td>\n13<\/td>\n+13<\/span><\/td>\n<\/tr>\n
BitcoinPlug<\/a><\/td>\n15<\/td>\n27<\/td>\n+12 (80%)<\/span><\/td>\n<\/tr>\n
CoinFlip Bitcoin ATMs<\/a><\/td>\n15<\/td>\n27<\/td>\n+12 (80%)<\/span><\/td>\n<\/tr>\n
Bitcoin Depot<\/a><\/td>\n77<\/td>\n88<\/td>\n+11 (14.3%)<\/span><\/td>\n<\/tr>\n
Digital Mint<\/a><\/td>\n48<\/td>\n58<\/td>\n+10 (20.8%)<\/span><\/td>\n<\/tr>\n
Slon BTM LLC<\/a><\/td>\n18<\/td>\n28<\/td>\n+10 (55.6%)<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Leading operator over this time-frame was Cointed, an Austrian company, who installed 32 new machines and reached 70 in total. Most of the growing companies are in the U.S., apart from two companies from Canada — LocalCoinATM and HoneyBadger.<\/p>\n

Change by Countries<\/h2>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Name<\/th>\nStart<\/th>\nEnd<\/th>\nDiff<\/th>\n<\/tr>\n
United States<\/td>\n887<\/td>\n1091<\/td>\n+204 (23%)<\/span><\/td>\n<\/tr>\n
Canada<\/td>\n214<\/td>\n290<\/td>\n+76 (35.5%)<\/span><\/td>\n<\/tr>\n
Austria<\/td>\n54<\/td>\n93<\/td>\n+39 (72.2%)<\/span><\/td>\n<\/tr>\n
United Kingdom<\/td>\n79<\/td>\n97<\/td>\n+18 (22.8%)<\/span><\/td>\n<\/tr>\n
Netherlands<\/td>\n10<\/td>\n19<\/td>\n+9 (90%)<\/span><\/td>\n<\/tr>\n
Australia<\/td>\n16<\/td>\n21<\/td>\n+5 (31.3%)<\/span><\/td>\n<\/tr>\n
Italy<\/td>\n10<\/td>\n14<\/td>\n+4 (40%)<\/span><\/td>\n<\/tr>\n
Panama<\/td>\n3<\/td>\n6<\/td>\n+3 (100%)<\/span><\/td>\n<\/tr>\n
Mexico<\/td>\n10<\/td>\n12<\/td>\n+2 (20%)<\/span><\/td>\n<\/tr>\n
Slovakia<\/td>\n8<\/td>\n10<\/td>\n+2 (25%)<\/span><\/td>\n<\/tr>\n
Hong Kong<\/td>\n8<\/td>\n10<\/td>\n+2 (25%)<\/span><\/td>\n<\/tr>\n
Russian Federation<\/td>\n6<\/td>\n8<\/td>\n+2 (33.3%)<\/span><\/td>\n<\/tr>\n
Taiwan<\/td>\n3<\/td>\n5<\/td>\n+2 (66.7%)<\/span><\/td>\n<\/tr>\n
Kosovo<\/td>\n2<\/td>\n4<\/td>\n+2 (100%)<\/span><\/td>\n<\/tr>\n
Vietnam<\/td>\n2<\/td>\n4<\/td>\n+2 (100%)<\/span><\/td>\n<\/tr>\n
Norway<\/td>\n1<\/td>\n3<\/td>\n+2 (200%)<\/span><\/td>\n<\/tr>\n
Czech Republic<\/td>\n20<\/td>\n21<\/td>\n+1 (5%)<\/span><\/td>\n<\/tr>\n
Greece<\/td>\n5<\/td>\n6<\/td>\n+1 (20%)<\/span><\/td>\n<\/tr>\n
Croatia<\/td>\n3<\/td>\n4<\/td>\n+1 (33.3%)<\/span><\/td>\n<\/tr>\n
Poland<\/td>\n3<\/td>\n4<\/td>\n+1 (33.3%)<\/span><\/td>\n<\/tr>\n
Israel<\/td>\n2<\/td>\n3<\/td>\n+1 (50%)<\/span><\/td>\n<\/tr>\n
Colombia<\/td>\n2<\/td>\n3<\/td>\n+1 (50%)<\/span><\/td>\n<\/tr>\n
Liechtenstein<\/td>\n1<\/td>\n2<\/td>\n+1 (100%)<\/span><\/td>\n<\/tr>\n
Kazakhstan<\/td>\n1<\/td>\n2<\/td>\n+1 (100%)<\/span><\/td>\n<\/tr>\n
Peru<\/td>\n0<\/td>\n1<\/td>\n+1<\/span><\/td>\n<\/tr>\n
Costa Rica<\/td>\n0<\/td>\n1<\/td>\n+1<\/span><\/td>\n<\/tr>\n
Cyprus<\/td>\n0<\/td>\n1<\/td>\n+1<\/span><\/td>\n<\/tr>\n
Aruba<\/td>\n0<\/td>\n1<\/td>\n+1<\/span><\/td>\n<\/tr>\n
Spain<\/td>\n36<\/td>\n35<\/td>\n-1 (-2.8%)<\/span><\/td>\n<\/tr>\n
Finland<\/td>\n21<\/td>\n20<\/td>\n-1 (-4.8%)<\/span><\/td>\n<\/tr>\n
Indonesia<\/td>\n3<\/td>\n2<\/td>\n-1 (-33.3%)<\/span><\/td>\n<\/tr>\n
France<\/td>\n2<\/td>\n1<\/td>\n-1 (-50%)<\/span><\/td>\n<\/tr>\n
Jersey<\/td>\n1<\/td>\n0<\/td>\n-1 (-100%)<\/span><\/td>\n<\/tr>\n
Isle of Man<\/td>\n1<\/td>\n0<\/td>\n-1 (-100%)<\/span><\/td>\n<\/tr>\n
Japan<\/td>\n16<\/td>\n11<\/td>\n-5 (-31.3%)<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The leaders on country level are still USA<\/a> and Canada<\/a>. Austria<\/a> is on top 3 position because of one operator in the country installing many machines. Interesting country is Netherlands<\/a>, where at the beginning of the year there were just 2 machines, currently growing fast and have in total 19 machines by the end of November.<\/p>\n

On the negative side, Japan<\/a> is leading the list with 5 locations removed, reducing total number from 16 to 11.<\/p>\n

Altcoins Support<\/h2>\n

Find latest stats of other cryptocurrency machines here<\/a>.<\/p>\n

In last three months the following increase in altcoins support happened:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
Name<\/th>\nStart<\/th>\nEnd<\/th>\nDiff<\/th>\n<\/tr>\n
Bitcoin<\/td>\n1515<\/td>\n1889<\/td>\n+374 (+24.6%)<\/span><\/td>\n<\/tr>\n
Any altcoin<\/td>\n331<\/td>\n596<\/td>\n+265 (+80.1%)<\/span><\/td>\n<\/tr>\n
Litecoin<\/td>\n302<\/td>\n561<\/td>\n+259 (+85.7%)<\/span><\/td>\n<\/tr>\n
Ether<\/td>\n124<\/td>\n261<\/td>\n+137 (+110.5%)<\/span><\/td>\n<\/tr>\n
Dash<\/td>\n65<\/td>\n134<\/td>\n+69 (+106.1%)<\/span><\/td>\n<\/tr>\n
Bitcoin Cash<\/td>\n0<\/td>\n32<\/td>\n+32<\/span><\/td>\n<\/tr>\n
Dogecoin<\/td>\n5<\/td>\n5<\/td>\n+0 (0%)<\/span><\/td>\n<\/tr>\n
Zcash<\/td>\n0<\/td>\n3<\/td>\n+3<\/span><\/td>\n<\/tr>\n
Monero<\/td>\n0<\/td>\n1<\/td>\n+1<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Altcoins adoption on existing bitcoin ATM machines continued to increase in September — November (reached 31.6% of all locations compared to 21.8% three months earlier).<\/p>\n

Summary<\/h2>\n

Bitcoin ATM market (number of locations) grows at fast speed (~7.6% a month). Leading countries are USA and Canada. General Bytes and Genesis Coin lead the market with new locations added. There is a trend when operators of machines start to produce machines \/ develop software on their own. Altcoins support on existing and new machines reached 31.5% compared to 21.8% three months ago.<\/p>\n","protected":false},"excerpt":{"rendered":"

Previous similar review was about August. Filling the gap of 3 months in this post we cover what are the main changes in bitcoin ATM statistics over last 3 months: September — November. There was a drastic change of bitcoin price over this time, it grew from $4912 in beginning of September to $10884 at the … Continue reading Bitcoin ATM Market Dynamics September — November 2017<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,21],"tags":[12,57,35,24],"class_list":["post-1663","post","type-post","status-publish","format-standard","hentry","category-new-locations","category-statistics","tag-growth","tag-market-dynamics","tag-new-locations","tag-statistics-2"],"_links":{"self":[{"href":"https:\/\/coinatmradar.com\/blog\/wp-json\/wp\/v2\/posts\/1663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinatmradar.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinatmradar.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinatmradar.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/coinatmradar.com\/blog\/wp-json\/wp\/v2\/comments?post=1663"}],"version-history":[{"count":12,"href":"https:\/\/coinatmradar.com\/blog\/wp-json\/wp\/v2\/posts\/1663\/revisions"}],"predecessor-version":[{"id":3023,"href":"https:\/\/coinatmradar.com\/blog\/wp-json\/wp\/v2\/posts\/1663\/revisions\/3023"}],"wp:attachment":[{"href":"https:\/\/coinatmradar.com\/blog\/wp-json\/wp\/v2\/media?parent=1663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinatmradar.com\/blog\/wp-json\/wp\/v2\/categories?post=1663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinatmradar.com\/blog\/wp-json\/wp\/v2\/tags?post=1663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}