How To Find A Bitcoin (BTC) Machine Near Me

Bitcoin BTC ATM

✍️ 11 November, 2022 - 9:33 👤 Editor: Jakub Motyka

Bitcoin (BTC) ATM is a kiosk that lets users buy and sell cryptocurrencies using cash - one of the simplest ways to buy the largest crypto. By downloading Coin ATM Radar app, an online directory for BTC ATMs, one can track the location of the machines.

The ATMs let users do cash-to-cash payments. Bitcoin ATMs are managed by private cryptocurrency firms offering related services. The firms require that an individual register an account with them to use the ATM service.

The US And Canada Has The Most BTC Machines

First Bitcoin ATM was installed in a coffee shop in Vancouver, Canada, in 2013. An expansive roll out of the machines has since reached over 38,750 globally. The US has the most bitcoin machines at 34,000, while Canada comes second with 2,549 (a 28% increase year-over-year).

Bitcoin ATMSource: Flickr
An expansive roll out of the Bitcoin cash machines has since reached over 38,750 BTC ATMs globally.

On the other hand, Europe has 1,466 - the rollout in most jurisdictions affected by regulations and the cost of installation. Bitcoin ATMs operators must register with the regulators, for example, the US Treasury Department’s Financial Crimes Enforcement Network in the US. Spain and El Salvador are other countries boasting a substantial number of bitcoin ATMs.

How To Find A Bitcoin ATM Machine Near Me

If you are looking for a Bitcoin ATM or BTC machine near your current position, you can check the following resources:

Bitcoin ATM Map
Map of Bitcoin ATM in the US.

BTC Is The Most Transacted Cryptocurrency Across Crypto ATMs

Recent reports show that the crypto ATM market valuation has risen to $46.4 million – with BTC leading across crypto ATMs. The machine works by allowing for anonymous purchases of $900 worth of BTC, completed with a cellphone number. Other popular cryptocurrencies in crypto ATMs are Ether and Litecoin.

The rollout of bitcoin ATMs is challenging, and is often marred with fraudulent activities and scams. Bad actors imposing themselves as agents, at times issuie users QR codes to complete fraudulent transactions at the bitcoin ATMs. The machines are also a target for money laundering and drug trafficking activities due to the anonymity of transactions on the platform.

Meanwhile, BTC is trading 5% lower in the last day below the $20k psychological support, currently at $19,700, while Ether is at $1,470, representing a 7% decline. The cryptocurrency space is facing a high inflation rate and tough macroeconomic factors. However, experts believe that in the next crypto leg up will cause a rise in the number of BTC ATM installations.

More crypto articles about Bitcoin:

Jared Kirui
Latest posts by Jared Kirui (see all)

Image sources:

Leave a Reply

Your email address will not be published. Required fields are marked *

Go up