Supply is meeting demand. The number of Bitcoin ATMs worldwide is up over 500%

carlisle1

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Quote from: Mandoy on September 24, 2019, 10:36:07 AM

Quote from: bitrawr on September 24, 2019, 10:07:17 AM

Hey, it's Bitrawr. I've been following the Bitcoin ATM landscape for a while now and recently drew attention to the latest figures.

The number of Bitcoin ATMs from September 2016 to September 2019 has increased by over 500%. As of now, there are currently 5,457 Bitcoin ATMs globally. I believe that this is indicative of the strong demand for anonymously transacting between fiat/bitcoin.

https://twitter.com/bitrawr/status/1174682600834764803

On third world countries there are less number of machines some have one or 2 compared to first world countries.

Because in third world countries users of Bitcoin ATM is fewer specially in Asia ,know why?

There are so much 7/11 stores that very accessible and friendly users and also you can purchase small amount with less hassles

And what I believe is it’s not the machine or the volume of those is important to help cryptocurrency progress but it’s the volume of peoplec accumulating crypto’s and we cannot count this from the machines installed but from the buyers itself

jostorres

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Quote from: Lorna111 on September 29, 2019, 02:02:25 AM

Very nice to know that ATMs are now spreading but I think for a worldwide basis, it is not enough. Also, It is a good way in campaigning bitcoin as new money platform. May I ask, are there any increase with the investors after having those ATMs? This one is a good public campaign.

As we expand in the adoption of bitcoin, more investors will come in to establish the ATM project but right now and based on the level of adoption that we have, I think that it is quite enough for us really, so that we just don’t have thousands of ATM piled up worldwide without having people to use it.

It is better that we have few ATM right now and see people's response towards it than to have unused one, and secondly, I believe that those who are establishing those ATM does not have regulation yet, and they will need to get regulation before they can establish more, otherwise government might be taking those ATM down which will be so much of loss of money. When regulation starts, there will also be an increase in the number of ATM as many intending investors will have the courage to do so.

BlackFor3st

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This is the evidence that the bitcoin adoption is keep on increasing every year which is very nice to hear.

500% increase is a positive indicator that more and more banks or companies are interested with cryto currencies especially in bitcoin and they see also the potential income from it. I am hoping that someday our country will follow and will put bitcoin ATM's so I can withdraw my bitcoin anywhere safely.

teosanru

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Quote from: bitrawr on September 24, 2019, 10:07:17 AM

Hey, it's Bitrawr. I've been following the Bitcoin ATM landscape for a while now and recently drew attention to the latest figures.

The number of Bitcoin ATMs from September 2016 to September 2019 has increased by over 500%. As of now, there are currently 5,457 Bitcoin ATMs globally. I believe that this is indicative of the strong demand for anonymously transacting between fiat/bitcoin.

https://twitter.com/bitrawr/status/1174682600834764803

Definitely if you see in comparison with 2016 we have seen a surge in demand of bitcoin. A lot more people have known about bitcoin. More people have entered this world. prices have surged many times in that time. Moreover governments around the world have also cleared their approaches regarding bitcoin. A few countries have made it legal while a few have given it a critique rejection.

Quote from: Dread Pirate Roberts on September 30, 2019, 09:05:22 AM

Quote from: mk4 on September 24, 2019, 01:07:51 PM

If you're actually following stuff concerning bitcoin ATMs for a while already, do you mind answering a question I've had in mind for a while already? - What demographic of people are bitcoin ATM companies are mostly targeting? Is it the people who use ATMs for privacy purposes? Is it the people who don't know that exchanges like Coinbase exists whereas they could buy coins for cheaper? or is it for people who are new to bitcoin who are buying small amounts of bitcoin through ATMs just to test things out?

I think it's in the EU and America. and the exception of several Asian countries such as Korea and Japan. and its use is primarily to take cash and trade directly with flat currency or also to saving directly to address wallet with flat currency. bitcoin atm is basically to provide easy access anywhere. if you need cash directly through an ATM. if someone has funds in their wallet, I think this ATM is good. and has many functions.

In India, we saw UNOCOIN opening the first ever bitcoin ATM in the city of Bangalore. After just two days it was sealed by police. The owner of the company was arrested and is still under custody. The problem was with the word ATM as no company is allowed to open ATM with the approval of RBI.

oleg681010

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There is a need, so ATM and appear. The more the better

tungaqhd

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Quote from: MetalGear on September 30, 2019, 08:00:16 AM

Quote from: bitrawr on September 24, 2019, 10:07:17 AM

Hey, it's Bitrawr. I've been following the Bitcoin ATM landscape for a while now and recently drew attention to the latest figures.

The number of Bitcoin ATMs from September 2016 to September 2019 has increased by over 500%. As of now, there are currently 5,457 Bitcoin ATMs globally. I believe that this is indicative of the strong demand for anonymously transacting between fiat/bitcoin.

https://twitter.com/bitrawr/status/1174682600834764803

It's not surprising since the cryptocurrency trend has been spreading but is only limited to those who are technologically updated and educated. People prefer to use cryptocurrency since it's free from the control of the government and owners or investors have the power over their money. It has been reported that as the year started, the number of cryptocurrency ATMs worldwide continues to grow. 5,000 milestone appears to have been reached as of the month of June. The number of Bitcoin ATM installations globally just hit a major milestone this year and will continue to grow because of the accelerating and fast-paced growth of cryptocurrency trend and BTC ATM installation will follow

Exactly, with the popularity of bitcoin soaring over the years, it's no surprise for us when the government began to spend more time on bitcoin, even setting up bitcoin ATMs for demand of many users, the purpose of the government is so obvious, they want to get a share of the profits in bitcoin, part of our income, Bitcoin ATM is not free, it is used to monitor us. So I don't think we should use it and should accumulate more because government help probably adds to the value of bitcoin when new users are coming

Dread Pirate Roberts

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Quote from: mk4 on September 24, 2019, 01:07:51 PM

If you're actually following stuff concerning bitcoin ATMs for a while already, do you mind answering a question I've had in mind for a while already? - What demographic of people are bitcoin ATM companies are mostly targeting? Is it the people who use ATMs for privacy purposes? Is it the people who don't know that exchanges like Coinbase exists whereas they could buy coins for cheaper? or is it for people who are new to bitcoin who are buying small amounts of bitcoin through ATMs just to test things out?

I think it's in the EU and America. and the exception of several Asian countries such as Korea and Japan. and its use is primarily to take cash and trade directly with flat currency or also to saving directly to address wallet with flat currency. bitcoin atm is basically to provide easy access anywhere. if you need cash directly through an ATM. if someone has funds in their wallet, I think this ATM is good. and has many functions.

MetalGear

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Quote from: bitrawr on September 24, 2019, 10:07:17 AM

Hey, it's Bitrawr. I've been following the Bitcoin ATM landscape for a while now and recently drew attention to the latest figures.

The number of Bitcoin ATMs from September 2016 to September 2019 has increased by over 500%. As of now, there are currently 5,457 Bitcoin ATMs globally. I believe that this is indicative of the strong demand for anonymously transacting between fiat/bitcoin.

https://twitter.com/bitrawr/status/1174682600834764803

It's not surprising since the cryptocurrency trend has been spreading but is only limited to those who are technologically updated and educated. People prefer to use cryptocurrency since it's free from the control of the government and owners or investors have the power over their money. It has been reported that as the year started, the number of cryptocurrency ATMs worldwide continues to grow. 5,000 milestone appears to have been reached as of the month of June. The number of Bitcoin ATM installations globally just hit a major milestone this year and will continue to grow because of the accelerating and fast-paced growth of cryptocurrency trend and BTC ATM installation will follow

Lorna111

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Very nice to know that ATMs are now spreading but I think for a worldwide basis, it is not enough. Also, It is a good way in campaigning bitcoin as new money platform. May I ask, are there any increase with the investors after having those ATMs? This one is a good public campaign.

TimeTeller

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Quote from: Micerker on September 28, 2019, 05:43:50 PM

Quote from: bitrawr on September 24, 2019, 10:07:17 AM

Hey, it's Bitrawr. I've been following the Bitcoin ATM landscape for a while now and recently drew attention to the latest figures.

The number of Bitcoin ATMs from September 2016 to September 2019 has increased by over 500%. As of now, there are currently 5,457 Bitcoin ATMs globally. I believe that this is indicative of the strong demand for anonymously transacting between fiat/bitcoin.

https://twitter.com/bitrawr/status/1174682600834764803

The number of Bitcoin ATMs is increasing every day, but the number of Bitcoin ATM users is not growing.
We need to make Bitcoin more popular in the community, which brings people closer to Bitcoin. At the Philippines, ATM Bitcoin has installed for a long time, but it is not known and used by many people.

I didn't know that we are already in the 5k level for the number of bitcoin ATMs around the globe.
Though the number is increasing, do we know where those ATMs are located at?
So I tried to use our google friend and found out stats for each country -
Though not updated but we can already get the big picture of it. Phl is not yet included in the list though.

https://www.statista.com/statistics/343147/number-of-bitcoin-atms-countries/

You can also check this site to search for bitcoin ATM near your place.

https://coinatmradar.com/bitcoin-atm-near-me/

Razick

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it's only natural that the number of Bitcoin ATMs will multiply each year, because only a small fraction of the world population even knows about Bitcoin and still to this day. There for businesses and investors around the world are going to jump on this opportunity to get into the Bitcoin space.

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Quote from: bitrawr on September 24, 2019, 10:07:17 AM

Hey, it's Bitrawr. I've been following the Bitcoin ATM landscape for a while now and recently drew attention to the latest figures.

The number of Bitcoin ATMs from September 2016 to September 2019 has increased by over 500%. As of now, there are currently 5,457 Bitcoin ATMs globally. I believe that this is indicative of the strong demand for anonymously transacting between fiat/bitcoin.

https://twitter.com/bitrawr/status/1174682600834764803

The number of Bitcoin ATMs is increasing every day, but the number of Bitcoin ATM users is not growing.
We need to make Bitcoin more popular in the community, which brings people closer to Bitcoin. At the Philippines, ATM Bitcoin has installed for a long time, but it is not known and used by many people.

lighpulsar07

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Well that is a good news the increase of bitcoin ATMs in span of 3 years is the sign of bitcoin adaption and the getting more people invest on bitcoin but the problem with bitcoin atms are getting KYC since bitcoin is all about anonymity and decentralized system third party exchanges that own atms and they had to follow the rules and regulations.

Wexnident

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Quote from: bitrawr on September 24, 2019, 10:07:17 AM

Hey, it's Bitrawr. I've been following the Bitcoin ATM landscape for a while now and recently drew attention to the latest figures.

The number of Bitcoin ATMs from September 2016 to September 2019 has increased by over 500%. As of now, there are currently 5,457 Bitcoin ATMs globally. I believe that this is indicative of the strong demand for anonymously transacting between fiat/bitcoin.

https://twitter.com/bitrawr/status/1174682600834764803

The increase of Bitcoin ATMs is quitw good for its publicity but that amount is still little to cater the world. Ofncourse, compared to the past its a huge increase in numbers though. But the usage of Bitcoin ATMs are imo quite low. People would still rather p2p to be fair and since a lot of people still dont know what BTC is, it would still take some time for people to adopt the usage of ATMs on a regular basis. Sure some people would use it but only every now and then.

clickerz

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Quote from: NeuroticFish on September 25, 2019, 02:56:42 PM

I've bought in the past Bitcoin from ATM. And indeed, I was shocked by the fees. Unfortunately that stopped me from buying more.. then Bitcoin started rising and I've missed that train. It was in the days Bitcoin price was around 200-220$!
Now I still think sometimes that I could have bought more, even with those high fees.

So ATMs can be good, although nowadays there are way more easy options to buy Bitcoin. And if their number grows, maybe we'll see competition and lower fees...

Though learning that more bitcoin ATMS is sprouting elsewhere is a good sign but the fees is another setbacks. I've seen one near my place but seems only a few curious persons are using it. Though adoption is imminent, but still we need to educate more people about this financial technology.

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Quote from: bitrawr on September 24, 2019, 10:07:17 AM

Hey, it's Bitrawr. I've been following the Bitcoin ATM landscape for a while now and recently drew attention to the latest figures.

The number of Bitcoin ATMs from September 2016 to September 2019 has increased by over 500%. As of now, there are currently 5,457 Bitcoin ATMs globally. I believe that this is indicative of the strong demand for anonymously transacting between fiat/bitcoin.

https://twitter.com/bitrawr/status/1174682600834764803

Bitcoin ATM's are not helping people to transact anonymously my friend, it is actually the opposite. Most Bitcoin ATM's actually apply very strict KYC/AML requirements and when people use them to convert Fiat to Crypto currencies, they reveal their real identity and also how many coins or tokens they bought. Sad

Yes, it is very convenient and people like to use it, but if they want to be anonymous, they have to use Mixer services to break the link between themselves and these 3rd party services. Grin

Baby Dragon

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Quote from: 1kodumtek7 on September 24, 2019, 03:10:34 PM

It is a very good thing that the number of Bitcoin ATMs increased very much. Besides, this doesn't mean that countries are going to accept Bitcoin as a currency just because of this but it will help Bitcoin's image to reach better levels.

Indeed, we can't really assure things but its great because you can see that it was improving despite of some issues it faced before. It is possible that people will get curious how that machine works and if someone who understands bitcoin share their own understanding or knowledge, they are able to caught peoples attention by helping them analyze its real purpose.

pjcaruci

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I am glad that the number of ATM has increased so much, but so far it is still not enough

shield132

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Quote from: bitrawr on September 24, 2019, 10:07:17 AM

Hey, it's Bitrawr. I've been following the Bitcoin ATM landscape for a while now and recently drew attention to the latest figures.

The number of Bitcoin ATMs from September 2016 to September 2019 has increased by over 500%. As of now, there are currently 5,457 Bitcoin ATMs globally. I believe that this is indicative of the strong demand for anonymously transacting between fiat/bitcoin.

https://twitter.com/bitrawr/status/1174682600834764803

Well, maybe supply is meeting demand but in overall bitcoin ATM's don't meet our requirements and to be fair as I see bitcoin ATMs are rarely used, just their locations are expanding, will be curious to see what's average profit from bitcoin ATMs in different countries. They need to change fees, it's insane, that's maybe why I very rarely see btc ATMs used by people. Almost everyone prefers to convert bitcoin into usd and then withdraw by bank's ATM they are using.
But still curious, why so much growth, I think quality over quantity will be better ration than current one we are seeing.

bitart

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Quote from: nydiacaskey01 on September 25, 2019, 12:33:23 PM

I wonder if this machine that can be found in 7 11 stores in the Philippines can be considered as a Bitcoin ATM because I can buy Bitcoins thru this machine. As long as theres a line of communication, this machine is online and you can buy Bitcoins through Coins.ph, if not then here in the Philippines I guess theres only 1 Bitcoin ATM.
...

I think these kind of machines are also counted.
In South Korea, or somewhere near there there are normal bank ATMs where you can (or will be able to) buy bitcoins, but you can't sell bitcoins there. If you count these ATMs too, the rise in the numbers is understandable.
Also, I understand if you sell bitcoin at the BTM, it requires ID or KYC or anything, because you'll get fiat in the end and you can use that fiat for nearly everything everywhere.
But why the KYC or ID scan is needed when you buy bitcoin? You have your fiat money (in cash or coins) and it's anonymous (you can prove the origin or you can't it doesn't matter now). You buy bitcoin with it which is also anonymous (pseudo, I know). You can't do whatever you want with your bitcoins, but because of the few exit possibilities of the bitcoin system (exchanges, localbitcoins, bitpay at webshops, etc.. not much thought) if you really want to spend your bitcoins for something everyday thing, you have to exchange it back to fiat, where KYC is required again...

Topic: Supply is meeting demand. The number of Bitcoin ATMs worldwide is up over 500% (Read 450 times)