Bitcoin ATMs are popping up around the country, and the world. With the increased price point and acceptance of cryptocurrencies, this is no surprise. More than 12k have been installed in seven years. How fast until we reach 20k?
Some cities have much more Bitcoin ATMS than we expected. Houston is a good example.
While some others, like New York, don’t have as many as we expected to find
|#1 Los Angeles 831||#2 Chicago 475||#3 Houston 454|
|#4 Atlanta 413||#5 Dallas 376||#6 Miami 343|
|#7 Detroit||#8 Boston 240||#9 Newark 238|
|#10 Orlando 229||#11 Phoenix 218||#12 Denver 209|
|#13 Tampa 202||#14 Indianapolis 191||#15 Philadelphia 176|
|#16 San Francisco 175||#17 Austin 171||#18 Cleveland 155|
|#19 Raleigh, NC, 152||#20 Las Vegas 131||#21Charlotte, NC, 126|
|#22 Baltimore 118||#23 New York City 111||#24 San Diego 110|
Looking at these figures, Los Angeles leads the pack. This itself is only surprising given its margin. This could have to do with LAs role as a border city, and within California, where so much tech finds a cozy home. While San Francisco, a much smaller city, still cracks into the top 20.
Perhaps equally surprising is the tiny amount in NYC. It is twice the size of LA, but has one eighth the BTC ATMs. Why is this? New York, as a financial home, has tight regulations on these types of things. All that pent up demand spills over to Newark, across the river, where the relatively small city has twice as many BTC ATMs as NYC.
|#1 Hawaii 3||#2 Wyoming 5||#3 West Virginia 7|
|#3 Rhode Island 7||#5 South Dakota 8||#6 New Mexico 9|
|#7 Idaho 10||#8 Montana 13||#9 North Dakota 14|
These states with fewer Bitcoin ATMs are also generally the least populous and rural states. This is unfortunate because Bitcoin and other cryptocurrencies promise to bring more banking options to rural or under-banked communities.
Total number of Bitcoin ATMs / Tellers in the world: 12361
If you include Europe, you’ll cover 97.7% of Bitcoin ATMS in the world. United Kingdom is the top country in Europe with 232 Bitcoin ATMS (1.9% of the global total).
South America, Australia and Africa represent under 1% of the global Bitcoin ATMs respectively.Total number of Bitcoin ATMs / Tellers in South America: 66 (0.5%)
Bitcoins are increasing their institutional infrastructure. While there were almost no BTC ATMs seven years ago, there are now nearly 13k. This growth has been exponential, increasing from year to year.
It nearly mirrors the growth in value of Bitcoin as well. Although markets have more volatility, the beginning and endpoints of the graphs match. The physical BTC infrastructure looks very much like a smoothed out version of the BTC value graph.