Over 4,000 cryptocurrency ATMs worldwide, Bitcoin [BTC] and Litecoin [LTC] lead the ATM race

The number of cryptocurrency ATMs has increased. There are now more than 4,000+ ATMs worldwide, and 1-2 cryptocurrency ATMs are being opened daily. As of Jan 14th, 2019, there are 4177 cryptocurrency ATMs installed currently.

According to Coinatmradar, Bitcoin and Litecoin lead the ATM race. 99.0% ATMs support Bitcoin, while Litecoin comes in at second, supported by 60% of the ATMs. Ethereum comes in at number 3rd, followed by Bitcoin Cash and DASH.

 

Growth of Cryptocurrency ATM. Source: Coinatmradar

In terms of the country with the most number of cryptocurrency ATM, the United States is leading the race with 2,485 ATMs followed by Canada with 699 ATMs. In the European region, Austria has the most number of cryptocurrency ATMs with 266 ATMs followed by UK (211 ATMs) and Spain (81 ATMs). In Asia region, Hong Kong is leading the race with 32 Bitcoin ATMs followed by Japan with 11 ATMs.

China and India are the only two major countries that do not have any cryptocurrency ATMs. Buying and trading of cryptocurrencies are illegal in China, but storing and selling cryptocurrency is still legal. Due to this cryptocurrency mining has still been possible in China.

It is still unclear in India whether cryptocurrencies are illegal or not. The founder of Unocoin was arrested in India for bringing the country’s first cryptocurrency ATM, on the pretext of cryptocurrency being illegal. The court overruled the arrest stating cryptocurrency are not illegal but there is a lack of regulations. Indian banks have been known to suddenly close accounts of people found to be trading in cryptocurrencies.

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