Countries with the most Bitcoin ATMs
As we all know, the last few years have represented the boom of cryptocurrencies, particularly Bitcoin, the most famous in the world and whose profitability is 60%, much higher than traditional assets. Currently, it is attributed with characteristics similar to those of money and functions equivalent to “digital gold”. This industry has broken records at an accelerated pace, since after surpassing one trillion dollars in market capitalization at the beginning of last year, it took only one quarter for it to double to 2 trillion dollars, and by the end of the year its capitalization was half a trillion dollars more.
There are currently about 36,600 cryptocurrency ATMs installed. Most of them are in the United States, which has 32,598 devices, followed by Canada with 2,410, (Mexico has only ten ATMs). Thus, North America is the region with the highest number of installed cryptocurrency ATMs, with 95.1% of total market share, according to data from Coin ATM Radar.
Among the wide mosaic of cryptocurrencies existing today, Ether (ETH) and Bitcoin (BTC) are the undisputed leaders of the crypto world for several reasons that have made them the leading players in this new market and the favorites of investors. Let's learn a little more about these cryptocurrencies.
These are followed by Spain (224), El Salvador (205), Poland (178), Switzerland (147), Hong Kong (143), Austria (133), Romania (128) and Italy (73), which ties with the Czech Republic, which has the same number of installations. Europe is the second region with the most installed devices with 3.8%, followed by Asia with 0.7% and Central and South America with 0.2%.
As we can see, the latter is a region with many areas of opportunity for the future, in terms of Bitcoin promotion and investment, since it only has 85 cryptocurrency ATMs, excluding El Salvador, a nation that apart from being the fourth country with the most cryptocurrency ATMs, is a pioneer in the world for adopting Bitcoin as an official currency, so that businesses are obliged to accept it as a payment method and citizens can pay their taxes with it. Bitcoin has thus become the second currency denomination in that country.
Meanwhile, Colombia is positioned as the South American territory with the most extensive network of ATMs of this type, with a total of 33 existing devices.
Brazil is the second country with the second largest number of Bitcoin ATMs in the region, with 22 in total. Argentina occupies the third position with nine. Meanwhile, Costa Rica has seven cryptocurrency ATMs, and Peru has only three.
It should be noted that, the top ten Bitcoin ATM operators run around 25,597 devices, this represents 69.9% of the total. In addition, there are another 603 companies operating the remaining 30.1%. Among the top operators we find the following companies: Bitcoin Depot, Coin Cloud, CoinFlip, Bitcoin of America, Bitstop, RockItCoin, Coinsource, ByteFederal, Localcoin and National Bitcoin ATM.
Is Bitcoin a store of value like gold?
For some time now many analysts have been saying that Bitcoin is or will be digital gold. However, such a statement carries with it a great responsibility for this asset: to occupy a place like that of metal as a store of value.
Who is buying Bitcoin?
Almost since Bitcoin came out, it has been at the center of the debates, with positions for and against it on issues such as whether it is money or not, if it is a store of value or not, what it is backed by, if it is better than fiat money or if it is just a speculative instrument that will generate a big bubble that will burst in a negative way for all those who believe in it.