Another milestone for bitomats, and thus Bitcoin itself has been exceeded. According to CoinATMRadar, the number of bitcoin ATMs in the world has already exceeded 6,000 devices. Less than 5 months have passed since we recently informed you about the previous milestone - 5,000 devices scattered around the globe.
Some facts about bitomats
Okay, so we have exceeded 6,000 units worldwide. What else is worth knowing about bitcoin ATM adaptations? Well, over 65% of these devices are located in the United States. As a result, geographical data is as follows:
Almost 77% of all bitomats are located in North America, of which every tenth machine in the world is located in Canada;
There is less than 20% of all devices in Europe;
In Asia it is only 2%.
In terms of quantity, statistics are as follows:
In the US, we find 3924 bitomats;
There are 652 devices in Canada;
272 bitcoin ATMs can be found in Great Britain;
Austria has 189 bitomats;
There are 77 machines in Switzerland;
75 in Spain;
There are 70 of them in the Czech Republic;
In Greece 62;
Russia has 59 machines;
And, attention, attention! Poland ranks 10th in terms of the number of bitomats on Earth, with 53 machines.
Bitomats on every corner?
General Bytes remains the leader among ATM bitcoin producers (also called BTMs), which produced 33% of all machines spread all over the Earth. Just behind GB is Genesis Coin, which produced 31% of 6,000 devices.
At present, 65% of bitomats only allow the purchase of Bitcoins. Only 35% of all machines are devices that allow you to buy and sell BTC.
Although in a broader perspective we observe an increase in the number of bitomats, there are also "holes" in the chart ... The reasons are usually insufficient KYC procedures (Know Your Customer, i.e. verify it) that do not meet the AML requirements (abbreviation from Anti-Money Laundering, or Anti-Money Laundering). We are not able to determine a specific number, however, it can be assumed that a large number of bitomats are still in the gray zone, whereby the machines are taken over by law enforcement or customs services.
John Fort, Head of the American Internal Revenue Service Criminal Investigation, dealing with, among others tax fraud cases, is afraid of potential problems with taxes from entrepreneurs managing BTMs:
"They should follow the KYC and AML procedures, and we are convinced that some follow these procedures in different ways."