As the popularity of Bitcoin grows, so does the need for consumers to get quick access to their Bitcoin. This is where Bitcoin ATMs come in. Over the past few years, more and more Bitcoin ATMs have sprung up, which only goes to show the popularity of Bitcoin amongst investors. But how many bitcoin ATMs are there? Let’s find out.
- LibertyX currently holds 26.9% of the Bitcoin ATM market share
- Global bitcoin market expected to reach $3.55 billion
- Bitcoin’s value has climbed 9,000,000% from 2010 to 2020
- Bitcoin ATM installations rose by 85% in 2020
- 35% of Bitcoin transactions are carried out using Bitcoin ATMs
Here we will explore all about Bitcoin ATMs and Bitcoin purchasing programs.
How Many Bitcoin ATMs Are in The US?
Bitcoin’s popularity is growing in leaps and bounds, and along with it is the demand of the owners of the cryptocurrency, one of which is being able to get access to their Bitcoin anywhere and at any time. The United States is obviously home to the largest number of Bitcoin owners.
As of 2021, the highest number of Bitcoin ATMs has been recorded in the United States. Currently, 48,004 bitcoin ATMs are operational in the US.
LibertyX currently holds 26.9% of the Bitcoin ATM market share
While there are many providers of bitcoin ATMs in the United States, one of the biggest names is LibertyX, which has over 26% of the bitcoin ATM market share, followed by Coin square, which has 16.6% of the bitcoin ATM market share, and Coin square, which has 9.8% of the bitcoin ATM market.
There are over 30,000 bitcoin ATMs that are functional around the world
According to reports, the number of total Bitcoin ATMs has increased worldwide, with the current number being 30,000.
Bitcoin ATMs can be found in 58 countries worldwide
Many countries currently have Bitcoin ATMs, with the highest number found in the US, the UK, and Canada. In total, bitcoin ATMs are currently being used in 58 countries worldwide.
How Much Do Bitcoin ATM Owners Make?
Because of the growing popularity of Bitcoin, as well as other cryptocurrencies, the Bitcoin business is booming. Bitcoin ATM owners have experienced record profits, and this trend doesn’t look like it is going to slow down any time.
The average Bitcoin kiosk makes 30,000 transactions every month
According to reports, the average Bitcoin ATM is used to carry out more than 30,000 transactions per month. This number has also grown as more and more people are turning to Bitcoin to make online transactions.
The average Bitcoin owner makes around $3,000 in profits each month
One of the most promising statistical figures for bitcoin ATMs is that bitcoin ATM owners regularly record a profit of $3,000 every month, which makes it a highly lucrative business.
Many Bitcoin ATM operators charge $5 to $20 per transaction
According to research, the average Bitcoin ATM operator charges between $5 and $20 per transaction.
Average maximums for transactions per day are capped at $9,000
If you were wondering if Bitcoin ATMs have a limit, then the answer is yes. The maximum transaction limit for Bitcoin per day is $9,000.
The IRS seized cryptocurrency worth $3.5 billion in 2021
To help combat the illegal use of cryptocurrencies, the IRS has seized up to $3.5 billion in cryptocurrencies since the start of 2021.
If you want exactly $100 in Bitcoin, you will need to deposit $100 plus additional cash to cover the ATM operator fees, which may vary. However, the average fee is 10 to 20%, but it can also go either lower or higher depending on the Bitcoin ATM you’re using to carry out the transactions.
Benefits of Using Bitcoin ATMs for Buying and Selling Cryptocurrency in 2024:
Accessibility:
Bitcoin ATMs provide convenient access to cryptocurrency transactions, allowing users to buy and sell Bitcoin and other digital assets easily. These ATMs are often located in public spaces, making them accessible to a broad user base.
Instant Transactions:
Transactions through Bitcoin ATMs are typically faster compared to online exchanges. Users can buy or sell Bitcoin instantly, receiving or dispensing cash on the spot, eliminating the need for extended transaction processing times.
User Privacy:
Bitcoin ATMs offer a degree of privacy as users can conduct transactions without the need for extensive identity verification processes. While some ATMs may have verification requirements, others may allow small transactions without such steps.
Cash Transactions:
Bitcoin ATMs facilitate cash transactions, allowing users to buy Bitcoin with physical currency or sell Bitcoin and receive cash. This feature is beneficial for those who prefer or need to deal in cash for their cryptocurrency transactions.
Global Accessibility:
Bitcoin ATMs contribute to the global adoption of cryptocurrencies by providing access in various locations worldwide. Users can engage in crypto transactions without relying solely on online platforms, fostering a more inclusive and widespread crypto economy.
User-Friendly Interface:
The interfaces of Bitcoin ATMs are designed to be user-friendly, making it easy for both beginners and experienced users to navigate the transaction process. Instructions are typically displayed on the screen, guiding users through the buying or selling steps.
Bitcoin Purchasing Programs:
Some Bitcoin ATMs offer bitcoin purchasing programs that provide additional benefits to users. These programs may include loyalty rewards, discounts on transaction fees, or exclusive promotions for frequent users, enhancing the overall experience.
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