The number of Bitcoin and other crypto ATMs has kept increasing this year. - page 2.

Kemarit

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Quote from: Stepstowealth on July 03, 2024, 09:31:57 AM

Quote from: Fiatless on July 01, 2024, 12:30:41 PM

Bitcoin ATM might have its shortcomings but its spread is showing that Bitcoin adoption is growing even in the face of stringent government policies.

It is not only the value of bitcoins that is bullish, the popularity of bitcoins is also increasing, so I expect bitcoin ATM's to be increasing in number too. Next year, the number of these ATM's will increase, and the number of users also likely to increase. Government trying to limit bitcoin growth has not worked, the internet has made information accessible to everyone, so it is easier not to believe the government.

And with that, can we say as well the there is a connection between the rise and fall of Bitcoin ATM around the world, as it could be that in bearish cycle, there is a decline and some of them closes and when we are in a bull run, the numbers go up as well?

I don't see that the government is trying to limit Bitcoin growth, it's already a given fact that some countries are authoritative and doesn't want to give their people freedom, hence they are anti-Bitcoin.

What is good though is that there are still a lot of countries that is in the grey area, meaning it is not legal but at the same time not illegal as well and so that could be the difference that we are seeing in terms of growth and adoption.

dzungmobile

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Quote from: kingvirtus09 on July 04, 2024, 05:53:35 AM

If the number of installed ATM machines increases, that is a good sign for other people to see and have curiosity if they see that there are crypto communities withdrawing because of Bitcoin or cryptocurrency. But the question is, are there really many crypto users who use that ATM?

Maybe later there will be many ATM machines installed, but only a few users will use them. Here in our country, it doesn't seem to have been increased or maybe even removed because I don't hear any news about the Bitcoin ATM machine in our country.

Bitcoin ATMs play their roles as marketing exposure of Bitcoin in the crowd and can help Bitcoin adoption. More people see Bitcoin ATMs, more people will be curious what it is, some of them will start learning about Bitcoin and part of them will become Bitcoin investors, traders, speculators or maximalists.

Bitcoin ATMs have big disadvantage in fee that is expensive and it can be barrier for Bitcoin ATM usage. More stricter regulations from government can force Bitcoin ATM operators to uninstall their ATMs.

Bitcoin ATM fee

Quote

Customers are charged a service fee for using a Bitcoin ATM. This fee is typically charged as a percentage of the transaction rather than a fixed dollar value. Bitcoin ATMs can be very high, and the exchange rates offered may not be as competitive as could be found elsewhere. For example, Bitcoin ATM operator CoinFlip charges between 4.99% and 21.90% of your total transaction amount, compared to paying between $0.49 for a Bitcoin purchase of $1 to $4.99 and 1.5% on a purchase of $1,000 or more using Paypal.

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Quote from: Fiatless on July 01, 2024, 12:30:41 PM

There was a notable decline in Bitcoin or crypto ATMs, with the worldwide count falling from 39,541 to 32,471 by July 2023. But it seems the tide is changing and there has been an increase in the establishment of more crypto ATMs. Currently, there are 38,279 crypto ATMs, indicating that 5,808 machines have been added over the past 11 months.

Just this year about 2,564 cryptocurrency ATMs have been installed which is above the 2,861 machines removed last year. Bitcoin Depot, Coinflip, and Athena Bitcoin are the major ATM operators and Australia seems to be the country with the fastest growth in Bitcoin installation. Other countries such as Spain, Poland, El Salvador, Poland, Germany, and Hong Kong are also experiencing an increase in Bitcoin installations.

Bitcoin ATM might have its shortcomings but its spread is showing that Bitcoin adoption is growing even in the face of stringent government policies.

Source
Source

If the number of installed ATM machines increases, that is a good sign for other people to see and have curiosity if they see that there are crypto communities withdrawing because of Bitcoin or cryptocurrency. But the question is, are there really many crypto users who use that ATM?

Maybe later there will be many ATM machines installed, but only a few users will use them. Here in our country, it doesn't seem to have been increased or maybe even removed because I don't hear any news about the Bitcoin ATM machine in our country.

yazher

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By this time I think we will see more ATMs being installed in some big cities because the other towns excluding mine, have their own Bitcoin ATMs now because their mayor is also a supporter based on his speech last election and he wants to expand and spread it in his place.

But as we can see right now, only major cities have them and those with less economics or liquidity are not part of them yet. therefore, we still have a long way to see total Bitcoin ATM invasions worldwide, but the good thing right now is we see decent progress just like this one.

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Quote from: Helena Yu on July 03, 2024, 10:08:44 AM

If people want to trade without KYC, it can be done using ATMs,

This used to be the case for smaller amounts, but it's worth noting that in the past few years, a lot of them have started to force their users to go through a KYC process for literally any amount and I expect this to spread even further ^{[unfortunately]}.

BTW, does anybody know how to verify the number of closed BTMs independently?
^{- I wonder if not being operational for a few days would count as a closed BTM or not.}

SquirrelJulietGarden

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CoinATMradar.com is a famous website for Bitcoin ATMs when you need to find an ATM for Bitcoin buying or selling near your location.

There is a blog from the site team, with monthly, quarterly and yearly reports.

Bitcoin ATM market dynamics in June 2024 is their latest report that has charts, tables and summaries on changes in manufacturers, operators and countries. In countries, there are noticeable changes in Puerto Rico and France with 12% and -70% changes respectively.

DiMarxist

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That can be done only in the countries bitcoin and other Cryptocurrencies. And if the ATM machines were declined in year 2023 In July from 39,541 to 32,471 then it was because of the bitcoin dip in 2022 and increase in 11 months interval again and then again it is because of the increase in price on bitcoin. Bitcoin started it increased signal from September 2023 so in this period investors have interest to build more and that is the business strategy.
Investors must be calculative.

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Quote from: Helena Yu on July 03, 2024, 10:08:44 AM

Even though Bitcoin ATMs is bad in everything, but surprisingly the demand is high, if the demand isn't high, why these people want to invest their money to build Bitcoin ATMs, isn't?

If people want to trade without KYC, it can be done using ATMs, but using decentralized exchange or No KYC P2P is much better, you will get better rate, lower fees and you don't have to go outside.

I feel like Bitcoin ATMs is only to get experience like using bank ATMs.

I still don't really get it. I mean, there are a lot more disadvantages to using ATMs. Are people really that dumb or ignorant? There has to be something else.

Helena Yu

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Even though Bitcoin ATMs is bad in everything, but surprisingly the demand is high, if the demand isn't high, why these people want to invest their money to build Bitcoin ATMs, isn't?

If people want to trade without KYC, it can be done using ATMs, but using decentralized exchange or No KYC P2P is much better, you will get better rate, lower fees and you don't have to go outside.

I feel like Bitcoin ATMs is only to get experience like using bank ATMs.

Stepstowealth

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Quote from: Fiatless on July 01, 2024, 12:30:41 PM

Bitcoin ATM might have its shortcomings but its spread is showing that Bitcoin adoption is growing even in the face of stringent government policies.

It is not only the value of bitcoins that is bullish, the popularity of bitcoins is also increasing, so I expect bitcoin ATM's to be increasing in number too. Next year, the number of these ATM's will increase, and the number of users also likely to increase. Government trying to limit bitcoin growth has not worked, the internet has made information accessible to everyone, so it is easier not to believe the government.

Lucius

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Quote from: Z-tight on July 01, 2024, 02:17:04 PM

The news article reports that the U.S has > 82% of BTC atm's worldwide, so i don't think there is that 'spread' that you are talking about. However, it is not a bad news, so..yeah. The government of countries where BTC ATM's operate do not have a problem it, as long as the BTC atm operators have been approved by the authorities to operate and set up their machines in the country.

The US and Canada have always dominated the total number of crypto ATMs, and even if something has changed a little in that percentage, it still doesn't mean much for the rest of the world. Some countries in the EU have a significant number of such devices, while some others have only a few, which only shows that the interest in such a way of selling/buying cryptocurrencies is quite different.

Even more fascinating to me is the fact (coinatmradar) that crypto ATMs exist (for now) in only 70 countries in the world, which is approximately 30% of all countries in the world.

Fiatless

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Quote from: Z-tight on July 01, 2024, 02:17:04 PM

Quote from: Fiatless on July 01, 2024, 12:30:41 PM

Bitcoin ATM might have its shortcomings but its spread is showing that Bitcoin adoption is growing even in the face of stringent government policies.

The news article reports that the U.S has > 82% of BTC atm's worldwide, so i don't think there is that 'spread' that you are talking about. However, it is not a bad news, so..yeah. The government of countries where BTC ATM's operate do not have a problem it, as long as the BTC atm operators have been approved by the authorities to operate and set up their machines in the country.

The easiest way to check if Bitcoin ATMs are spreading to other parts of the world is to check the past data on the ownership of the machine globally. According to some reports as of two years ago about 87-89% of Bitcoin ATMs were located in the US. So you can agree with me that other countries are gradually occupying some chunk of the market. The adoption might not be fast but there is a significant change.

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dunfida

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Quote from: Fiatless on July 01, 2024, 12:30:41 PM

There was a notable decline in Bitcoin or crypto ATMs, with the worldwide count falling from 39,541 to 32,471 by July 2023. But it seems the tide is changing and there has been an increase in the establishment of more crypto ATMs. Currently, there are 38,279 crypto ATMs, indicating that 5,808 machines have been added over the past 11 months.

Just this year about 2,564 cryptocurrency ATMs have been installed which is above the 2,861 machines removed last year. Bitcoin Depot, Coinflip, and Athena Bitcoin are the major ATM operators and Australia seems to be the country with the fastest growth in Bitcoin installation. Other countries such as Spain, Poland, El Salvador, Poland, Germany, and Hong Kong are also experiencing an increase in Bitcoin installations.

Bitcoin ATM might have its shortcomings but its spread is showing that Bitcoin adoption is growing even in the face of stringent government policies.

Source
Source

Speaking of adoption then this is something that would really be that increasing as years passing by specially now that we are heading into the bull run then it would be understandable on why there would really be those numbers increasing on which this isnt really just that limited on ATM's alone but also in other aspect as well. People who do have that experienced those other cycles or run in the past on which hype is really that on the rooftop or lets say that euphoria is on then everything would really be that looking increasing. This is why its not really that shocking that everything would really be that looking positive.
Also, if these ATM's are increasing in number then its a good news for us specially to those who do make use of those machines on buying up coins.

Somehow, if we do speak about into those fees which these ATM's are really that having then i would really be rather preferring on using up on p2p on exchanges. Tongue

Z-tight

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Quote from: Fiatless on July 01, 2024, 12:30:41 PM

Bitcoin ATM might have its shortcomings but its spread is showing that Bitcoin adoption is growing even in the face of stringent government policies.

The news article reports that the U.S has > 82% of BTC atm's worldwide, so i don't think there is that 'spread' that you are talking about. However, it is not a bad news, so..yeah. The government of countries where BTC ATM's operate do not have a problem it, as long as the BTC atm operators have been approved by the authorities to operate and set up their machines in the country.

Doan9269

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This will happen for now because of some reasons I want to highlight here.

1. Bitcoin transaction fee with using its ATM is high and many will rather consider the comfort from their mobile device than using the ATM machine for making a transaction.

2. We can also consider the adoption and regulations over bitcoin and crypto at large by some countries as one of the major determining factors hindering the demand for the use of bitcoin ATM as some may require government approval before installation and do on, but only for countries like El-Salvador and others where Bitcoin is being supported by the government may have increasing demands on the use of bitcoin ATM.

Fiatless

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There was a notable decline in Bitcoin or crypto ATMs, with the worldwide count falling from 39,541 to 32,471 by July 2023. But it seems the tide is changing and there has been an increase in the establishment of more crypto ATMs. Currently, there are 38,279 crypto ATMs, indicating that 5,808 machines have been added over the past 11 months.

Just this year about 2,564 cryptocurrency ATMs have been installed which is gradually catching up with the 2,861 machines removed last year. Bitcoin Depot, Coinflip, and Athena Bitcoin are the major ATM operators and Australia seems to be the country with the fastest growth in Bitcoin installation. Other countries such as Spain, Poland, El Salvador, Poland, Germany, and Hong Kong are also experiencing an increase in Bitcoin installations.

Bitcoin ATM might have its shortcomings but its spread is showing that Bitcoin adoption is growing even in the face of stringent government policies.

Source
Source

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