UK markets open in 1 hour 57 minutes

  • NIKKEI 225

    25,938.34
    -454.70 (-1.72%)
     

  • HANG SENG

    21,859.79
    -137.10 (-0.62%)
     

  • CRUDE OIL

    105.44
    -0.32 (-0.30%)
     

  • GOLD FUTURES

    1,802.90
    -4.40 (-0.24%)
     

  • DOW

    30,775.43
    -253.88 (-0.82%)
     

  • BTC-GBP

    16,055.08
    -558.31 (-3.36%)
     

  • CMC Crypto 200

    417.18
    -14.29 (-3.31%)
     

  • ^IXIC

    11,028.74
    -149.16 (-1.33%)
     

  • ^FTAS

    3,940.90
    -78.63 (-1.96%)
     
Crypto:

Can stablecoins keep dollar peg after terra debacle?

The cryptocurrency market has lost $2tn since the beginning of April

Bitcoin ATMs surge 70% as it gains mainstream backers

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
Saleha Riaz
·2-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • GBP=X
  • GBPUSD=X
  • SQ
  • BTC-USD
A Bitcoin ATM is a kiosk that allows a person to purchase bitcoin by using cash or debit card. Photo: Getty Images
A Bitcoin ATM is a kiosk that allows a person to purchase bitcoin by using cash or debit card. Photo: Getty Images

The number of bitcoin (BTC-USD) ATMs around the world increased by 70% in the last six months, hitting 16,500 in March, a new report revealed.

A bitcoin ATM is a kiosk that allows a person to purchase bitcoin by using cash or debit card. Some offer both the purchase of bitcoin as well as the sale of bitcoin for cash.

According to Trading Platforms, these ATMs serve as a quick and convenient way to transfer physical cash into bitcoin or other cryptocurrencies.

READ MORE: Bitcoin retreats from record high amid report of Indian crypto ban

It said countries like the US, Canada, and the UK hold the biggest number of BTMs but they are also becoming popular in countries "with volatile financial markets whose citizens require a quick exchange of an official currency for a digital asset not regulated by the government."

Chart: Trading Platforms
Chart: Trading Platforms

The US represents the leading crypto ATM market, with 84% of all bitcoin ATMs globally. Coin ATM Radar data revealed the number of BTMs operating in the US surged by 85% in the last six months.

In September 2020, there were 7,567 crypto ATMs all around the country. This figure jumped to almost 14,000 in March.

Chart: Trading Platforms
Chart: Trading Platforms

As the second-largest BTM market globally, Canada also witnessed "impressive growth" in the number of BTMs, with the figure jumping from 866 in September to 1,275 in March.

The UK is the only one among the top three markets where the number has gone down. The number of crypto ATMs plunged by 25% in the last six months, landing at 195 in March.

Austria, Spain, and Poland follow, with 154, 121, and 107 BTMs, respectively.

Watch: What is bitcoin?

Statistics also show Genesis Coin tops the list of largest bitcoin ATM manufacturers, with a 38% market share and 6,346 BTMs operating worldwide as of March.

General Bytes ranked as the second-largest manufacturer in the world with a 27% market share and 4,512 BTMs. BitAccess and Coinsource follow with 1,578 and 1,214 crypto ATMs, respectively.

On Tuesday morning, Bitcoin was trading nearly flat, at $55,786 (£40,280).

Earlier on Monday morning it was in retreat, after hitting a new record high over the weekend.

The price decline came amid reports that India could ban cryptocurrencies altogether, potentially cutting off one of the biggest markets in the world.

While the cryptocurrencies were under pressure on Monday morning, the market is still far higher than it was six months ago. Bitcoin has rallied over 400% amid a surge of interest from institutional players like Square (SQ) and Tesla (TSLA). The surge has helped spark a broader rally for the market.

Watch: What are the risks of investing in cryptocurrency?

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting

Latest stories

  • The Global Non-fungible Token Market size is expected to reach $97.6 billion by 2028, rising at a market growth of 31.6% CAGR during the forecast period

    Non-fungible tokens (NFTs) are blockchain-based cryptographic assets having unique metadata and identification codes that separate them from one another. They cannot be purchased or exchanged at face value, unlike cryptocurrencies.New York, June 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Non-fungible Token Market Size, Share & Industry Trends Analysis Report By Type, By End Use, By Application, By Regional Outlook and Forecast, 2022 – 2028" - https:

  • UK rules that AI cannot patent inventions

    Government plans to tweak laws to make UK a ‘global artificial intelligence superpower’

  • Glastonbury 2022 broke data records, EE says

    The festival’s technology partner said more than 182 terabytes of data were used over the five days of the event.

  • Britain suffering faster and steeper downturn than Europe, warns Andrew Bailey

    The Bank of England Governor has warned that Britain faces a faster and steeper downturn than other rich countries as households are battered by a “very large national real income shock”.

  • Half of people back strikes by NHS workers – poll

    Public sympathy for NHS workers going on strike is high, but there is little support for striking barristers.

  • Ben & Jerry's forced to end Israel boycott

    Unilever has blocked Ben & Jerry's from boycotting Israel by selling the ice cream brand’s operations in the country to a local manufacturer.

  • Wastewater Treatment Services Market Research Report by Type, Treatment Type, Service Type, End-User, Region - Global Forecast to 2027 - Cumulative Impact of COVID-19

    Wastewater Treatment Services Market Research Report by Type (Building & Installation, Design & Engineering Consulting, and Maintenance & Repair), Treatment Type, Service Type, End-User, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19New York, June 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wastewater Treatment Services Market Research Report by Type, Treatment Type, Service Type,

  • The Worldwide Ethernet Controller Industry is Projected to Reach $13.4 Billion by 2027

    Global Ethernet Controller Market Global Ethernet Controller Market Dublin, June 30, 2022 (GLOBE NEWSWIRE) -- The "Global Ethernet Controller Market (2022-2027) by Function, Bandwidth, Packaging, Application, Geography, Competitive Analysis, and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering. The Global Ethernet Controller Market is estimated to be USD 9.81 Bn in 2022 and is projected to reach USD 13.47 Bn by 2027, growing at a CAGR of 6.5

  • Britain extends steel tariffs in breach of trade rules

    LONDON (Reuters) -Britain on Wednesday extended a package of tariffs and quotas on five steel products by two years to shield local steelmakers, acknowledging it would breach international trade rules but saying it was needed for the national interest. Trade minister Anne-Marie Trevelyan told parliament the safeguards would help defend a strategic industry and British steel producers could face "serious injury" were the measures not maintained. Since leaving the European Union and the bloc's common trade policy, Britain has sought to carve out a role on the global stage as a champion of free commerce, calling out restrictive practices by others like China and advocating for World Trade Organization (WTO) reform.

  • De Beers, Botswana extend diamond sales deal by a year

    The 2011 rough diamond sales agreement in which the venture sells 75% of its output to De Beers was set to expire in 2020, but was extended for a year till last December and then again for six more months. The extension of the agreement for the sale of Debswana's diamond output runs until June 30, 2023.

  • French power company EDF won over more retail clients since last August

    State-controlled utility EDF signed 500,000 extra retail clients in the French electricity market between August 2021 and May 2022 and it aims to double the core profit of its energy services division by 2030, said a company official. Marc Benayoun, executive director in charge of EDF's customers, services and territories arm, told a news conference that EDF's number of retail customers had risen to 26.2 million in May this year from 25.7 million in August 2021. EDF said the rise in its customers had come as a surge in energy prices, following Russia's invasion of Ukraine, had led some rivals to change their retail offers or even halt them.

  • The highest paying jobs without a degree in 2022

    A university degree has traditionally led to better earnings but a tight labour market means employers are offering increasingly generous pay packets to non-graduates.

  • Worldwide Electric Fireplaces Industry to 2031 - Featuring Empire Comfort Systems, European Home and Glen Dimplex Americas Among Others

    Global Electric Fireplaces Market Global Electric Fireplaces Market Dublin, June 30, 2022 (GLOBE NEWSWIRE) -- The "Electric Fireplaces Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering. This recent report on the electric fireplaces market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. Companies Mentioned Empire Comfort SystemsEuropean H

  • Invitation to HMS Networks’ second quarter 2022 conference call

    HMS Networks AB (publ) will release its second quarter report 2022 on Thursday July 14, 2022, at 07.30 CET. On the same day, at 09.00 CET, a conference call will be held for press and analysts, where President and CEO Staffan Dahlström and CFO Joakim Nideborn present the report. The presentation will be held in English and is followed live by telephone or the internet. Slides used in the presentation will be made available on HMS’ website prior to the telephone conference. To participate in the

  • Jump in people paying higher rates of tax

    There are a projected 5.5 million higher rate income taxpayers in 2022/23, marking a 43.9% increase compared with 2019/20, HMRC said.

  • The global bio decontamination market is projected to reach USD 227 million by 2027 from USD 159 million in 2022, at a CAGR of 7.3% from 2022 to 2027

    The increasing incidence of hospital-acquired infections, the increasing outsourcing of bio decontamination services, and presence of stringent regulation in pharmaceutical and medical device industry are the major factors driving the bio decontamination market.New York, June 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bio Decontamination Market by Product, Agent, Type, End User - Global Forecast to 2027" - https://www.reportlinker.com/p05786257/?utm_source

  • Surge in early retirement is fuelling inflation, says top Treasury mandarin

    A surge of older workers taking early retirement is fuelling inflation and limiting the size of the economy, the Treasury’s top economics mandarin has warned.

  • Does Nongfu Spring Co (HKG:9633) have an economic moat?

    The persistent risk of economic uncertainty and market volatility mean that it can be worth seeking out high quality stocks for your portfolio. Safe, profitabl...

  • Global Frictionless Commerce Growth Opportunities

    The retail industry is undergoing a transformational shift wherein physical and digital customer experiences are converging. Retailers want to leverage digital tools that will help them derive contextual, behavioral, and location-based information to create unique and engaging customer experiences.New York, June 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Frictionless Commerce Growth Opportunities" - https://www.reportlinker.com/p06289520/?utm_source

  • Soaring inflation sees household incomes fall for record four quarters in a row

    The ONS said the UK economy grew by an unrevised 0.8% in the first quarter, but revealed that household incomes fell 0.2% after surging inflation.