The Last Months of 2017 Sees an Increase in Bitcoin Teller Machines With the U.S. Commanding Over 1,200 Devices
During the end of 2017, the bitcoin teller machine environment has been growing fast as the market has seen a 7.6 percent increase in machines worldwide over the past few months. The biggest markets for BTMs reside in the U.S., Canada, the UK, and Austria. However, at the moment the U.S. has over 75 percent of the BTM market share globally with roughly 1,270 tellers according to Coinatmradar’s data statistics. On the global level, the most prominent BTM manufacturers include Genesiscoin, General Bytes, Lamassu, and Coinsource. Other BTM producers with smaller machine percentages are Bitaccess, Covault, Bitxatm, and a few unknown manufacturers.
Coinsource is the largest BTM provider in the U.S. with over 160 machines, and the company aims to install 1,000 in 2018. Coinsource and another company, called Coinbtm, are also the only teller machine startups allowed to legally operate in New York due to the state’s Bitlicense regulations. The firm Coinsource was created by Bobby Sharp and Sheffield Clark, two businessmen who grew passionate about bitcoin and thought BTMs were a great way to get started.
“It was just this interesting phenomenon, and the plug-and-play aspect was pretty nice,” Sharp told the publication, Pacific Standard, this week.
"You don’t have labor costs — Your labor is a machine."
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