RATE Group | The Future of Cryptocurrency ATMs has Arrived
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The Future of Cryptocurrency ATMs has Arrived

06 Aug The Future of Cryptocurrency ATMs has Arrived

Posted at 02:23h in Cryptocurrency News by

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The market demand for cryptocurrency ATMs has grown rapidly. Cryptocurrency owners need ATMs to quickly exchange and spend their invested cash when they need to, and the competition between cryptocurrency ATM providers is heating up.

Cryptocurrency ATMs: The Stats

The number of Bitcoin ATMs quadrupled across 2017 according to Statista and is still rising.

Number of Bitcoin ATMs worldwide from January 2016 to April 2018 (Source: Statista)

The first cryptocurrency ATM was installed in a coffee shop in Vancouver in 2013 and, according to data from coinatmradar.com, there are now 3502 Bitcoin ATMs in operation globally.

Over half of current cryptocurrency ATMs support at least one altcoin as well as Bitcoin. 49% offer Litecoin transactions and 32% offer Ethereum. The average fee for using a cryptocurrency ATM transaction is around 8%.

Cryptocurrency ATM makers are thriving, opening up a further new channel for cryptocurrency investors and capital inflow to the cryptocurrency ecosystem.

Genesis Coin has a 33% share of the ATM market followed by General Bytes at 26%….

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