Every hour, a new vending machine to buy and sell Bitcoin (BTC) with cash is installed around the world.
Although the growth of the sector is considerable, France remains one of the worst performers in Europe.
Bitcoin ATMs grow like mushrooms
According to data from the Coin ATM Radar site, the deployment of ATMs is growing at an incredible rate. To date, the estimated number of vending machines that can buy and sell Bitcoin News Trader review and other altcoins with cash is estimated at 11,697 units.
Compared to last year, the number of Bitcoin ATMs has increased by almost 80%, with 6,372 ATMs having been counted as of 1 January 2020.
At the time of writing these lines, Coin ATM Radar estimates that 23.4 new Bitcoin ATMs are installed every day, or almost 1 per hour. In 2019, approximately 11 ATM’s were coming out of the ground every day.
If such a rate continues for 2021, more than 20,000 Bitcoin ATMs will most likely be in operation around the world before 2022.
However, the market for Bitcoin ATMs remains quite fragile. In particular, it is facing numerous and increasingly restrictive regulations that are slowing down the development of these machines.
Read more – Germany: BaFin starts seizing unauthorized Bitcoin ATMs
France, the bad pupil of Europe?
To date, France is one of the least welcoming countries for Bitcoin ATMs. Only 12 distributors have taken up residence in the territory. This places France far behind all its neighbors, such as Switzerland (103 ATMs), Germany (38 ATMs) and Belgium (36 ATMs).
This screenshot from Coin ATM Radar is unequivocal, France is sulking about Bitcoin ATMs :
France ATM Bitcoin
Unsurprisingly, the U.S. is leading the way in terms of numbers. The growth of the sector in this country is considerable compared to Europe. Currently, 9,475 of the 11,697 distributors of encryption products are located in the country.
In 2019, there were only 4,213 ATMs in the United States, but Bitcoin has quickly made its way into the mainstream, in locations ranging from independent stores to one of Tesla’s factories.
This significant growth in ATMs in 2020 demonstrates that there is a demand for this type of service, a sign of the growing acceptance of Bitcoin on all fronts.