20 Bitcoin (BTC) ATMs were installed every day in March

Bitcoin ATM installation 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.

In fact, last July there were 24,000 Bitcoin distributors. Since then, the trend has accelerated:

Increase in the number of bitcoin distributors in the world

In total, these are Reportedly 20,000 distributors installed globally throughout 2021. This is a sign of confidence, according to Finbold:

Suppliers and investors are likely to feel optimistic regarding the long-term prospects of the sectordespite 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 uneven distribution

Some countries are therefore starting to use Bitcoin distributors, but this is not the case for everyone. According to data published by CoinATMRadar, some territories are lagging behind … including France. It’s far from a surprise, France has been slow to get into distributors for years. There are currently only 3 in the whole country.

Our European neighbors, however, seem to be doing better. Spain comes in third of countries where there are more Bitcoin distributors, with 255 of them. In Italy, there are currently 75 ATMs and 48 in Belgium.

North America is still very far ahead: it would be there 32,674 Bitcoin ATMs in the United Statesand 2,447 in Canada.

👉 On the same topic – 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 obviously the UK, which forced all ATMs to close last March, citing lack of regulatory compliance with money laundering legislation. This is a warning, but a big warning: service providers they will have to declare their machines to the FCA, and demonstrate that they are now in good standing before a possible reopening. Currently only 25 ATMs would be accessible.

It’s the same story on the Singapore side, which banned advertising on cryptocurrencies… and they viewed distributors as advertising in and of themselves. The Local Monetary Authority explained the following:

To provide [un accès aux cryptos] through the use of ATM it is a form of promotion of digital payment tokens. […] This could lead the public to impulsively swap tokens for digital payments, without considering the risks.

If we can rejoice in this sign of widespread adoption, it is therefore important to remember it that regulators ensureand who do not always consider the installation of vending machines very favorable.

👉Read also – MoneyGram acquires 4% of Coinme, the company specializing in Bitcoin distributors

Source: Finbold

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About the author: Marine Debelloir


Deputy Director of Cryptoast, I fell into the cryptocurrency pot a few years ago. I am passionate about the innovative technologies that come with the blockchain and I love to find the most crisp information to share with you.
All articles by Marine Debelloir.

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