Genesis Coin Leads Cryptocurrency ATM Market with a Share of 40.60%

Over 39,000 bitcoin ATMs are now up and functioning throughout the globe as of this week. There are 3,925% more cryptocurrency ATMs now than there were in January 2017, when the total number of machines was getting close to 1,000. There has been a meteoric rise in the number of cryptocurrency ATMs in the 23 months from September 1, 2020, since there were fewer than 10,000 such devices throughout the globe.

There were more over 39,000 digital currency dispersal ATMs in operation across the world by the first week of August 2022. To be more specific, coinatmradar.com reports that 614 crypto ATM operators in 77 different countries have deployed 39,011 cryptocurrency ATMs. Compared to the 969 crypto ATMs that existed on January 1, 2017, the number of these machines has increased by 3,925%. According to the available data, 95.1% of all cryptocurrency ATMs, or 37,081 machines, are located in North America.

At 34,299, the United States has 87.9% of the global total of cryptocurrency ATMs. The proportion of crypto ATMs in operation today is 4.9%, with Europe accounting for 3.8% of that total. Canada controls 2.461% of all cryptocurrency ATMs globally, or 6.3% of the total in North America. According to the statistics on coinatmradar.com, out of the total number of crypto ATMs (39,011), 38,998 of them accept bitcoin (BTC).

On the other hand, 33,000 of those total endorse further crypto assets. There are now 32,466 computers that can dispense Litecoin (LTC), 29,324 that can handle Ethereum (ETH), 16,132 that can store Dogecoin (DOGE), and 13,801 that can access Bitcoin Cash (BCH). Bitcoin Depot has the largest network of cryptocurrency ATMs, accounting for 17.7 percent of the world total (6,896 ATMs) in operation. Coincloud follows Bitcoin Depot with 5,643 machines, Coinflip with 4,124 machines, Bitcoin of America with 2,339 devices, Bitstop with 1969 machines, and Rockitcoin with 1969 machines (1,781 machines).

There are now 1.4 million cryptocurrency ATMs in operation around the globe, with 40.6% of them being produced by Genesis Coin and 22.8% by General Bytes. Following Genesis Coin and General Bytes as leading producers of cryptocurrency ATM hardware are Bitaccess (15.8%), Coinsource (5.2%), Bitstop (4.9%), and Bytefederal (2.8%).

The rate of new cryptocurrency ATM deployment is also tracked by Coinatmradar.com. According to the statistics website for crypto ATMs, the speed is measured on a gauge scale “determined based on previous 60 days [while] speed is computed based on last 7 days.”

According to the indicator, there will be an average of 14.7 crypto ATMs in operation worldwide by Sunday, August 7, 2022. If the current pace of installation of cryptocurrency ATMs continues, 40 thousand will be operational globally within around 67.27 days.