Installation of Bitcoin ATMs exploded in March
Finbold shared this figure today. According to the outlet, 686 bitcoin vending machines, or ATMs, were installed in March 2022. This therefore corresponds to 22 installations per day. In total, there are 36,733 Bitcoin distributors in the world, a figure that continues to skyrocket.
Last July, there were indeed 24,000 Bitcoin distributors. Since then, the trend has accelerated:
Increase in the number of bitcoin distributors in the world
In total, these are 20,000 dispensers reportedly installed globally throughout 2021. This is a sign of confidence, according to Finbold:
“Suppliers and investors are likely feeling optimistic with regard to the long-term prospects of the fielddespite the fact that the most important cryptocurrency is still quite far from its all-time high.»
👉 Find our complete guide – How to buy Bitcoin in 2022?
A still very unequal distribution
Some countries are therefore starting to use Bitcoin distributors, but this is far from being the case for all. Based on the data published by CoinATMRadar, some territories are lagging behind… Including France. It is far from being a surprise, France has been slow for years to get into distributors. There are currently only 3 in the whole country.
Our European neighbors, however, seem better off. Spain comes third of the countries where there are the most Bitcoin distributors, with 255 of them. In Italy, there would be 75 ATMs at the moment, and 48 in Belgium.
North America remains far ahead, however: there would be 32,674 Bitcoin ATMs in the United Statesand 2,447 in Canada.
👉 On the same subject – Walmart has installed 200 Bitcoin (BTC) ATMs in its American supermarkets
The world oscillates between prohibition and authorization
The big loser in this ranking is of course the UK, which forced all ATMs to close last March, citing a lack of regulatory compliance with money laundering law. This is a warning, but a big warning: service providers will have to declare their machines to the FCAand prove that they are now in compliance before a possible reopening. Currently, only 25 ATM would be accessible.
It’s the same story on the Singapore side, who banned cryptocurrency advertising…and considered the distributors to be an advertisement in themselves. The Local Monetary Authority explained as follows:
“Provide [un accès aux cryptos] through the use of ATM is a form of promotion of digital payment tokens. […] This could mislead the public into trading digital payments tokens impulsively, without considering the risks.»
If we can rejoice in this sign of widespread adoption, it is therefore important to remember that regulators ensureand that they do not always consider the installation of vending machines very favorably.
👉 Read also – MoneyGram takes a 4% stake in Coinme, the company specializing in Bitcoin distributors
Source : finbold
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