If you had no clue that Bitcoin's ATM was even a thing well right now you are about to learn everything you have to on this interesting and ambitious project. Indeed the number of Bitcoin's ATM increased a lot since 2013, today there are over 7.700 distributors like this in the entire world. Bitcoin isn't the only cryptocurrency with ATM, Ethereum, Litecoin, Dash and many Altcoins also have this kind of service. 

In a world where we seek everyday for solutions to the economic crisis, cryptocurrency appears to be among the best that have been suggested. With a huge gain of popularity by cryptocurrency during these recent weeks, cryptocurrency's ATM could easily become mainstream. Let me drive you through this incredible possibility.

1. Let's go back in the past, when did it all started : 

First, what is exactly a Bitcoin's ATM and does this work : Bitcoin kiosks are distributors which are connected to the Internet (with sometimes a dope design by the way), allowing exchanges of traditional currencies for Bitcoins given as a paper receipt or by moving money to a public key on the blockchain. Those ATM work differently, the one way which allow to trade traditional currencies (fiat) for Bitcoins, and the two way which allow exchanges both from fiat to Bitcoins and Bitcoins to fiat.

It began in October 2013, the first official public Bitcoin ATM was released, in a coffee shop of Vancouver, it then spread in the USA, Mexico, Europe and more. Currently there are 72 countries who own at least one Bitcoin's ATM, like I said previously there are over 7.700 ATM right now and this is only the beginning. All the statistics you want to know are delivered by the website CoinATMradar, concerning the locations, producers, operators, ATM which sell or buy and more.

2. What about the ATM development right now :

Today there are 2 main producers, General Bytes and Genesis Coin (there are also Lamassu or BitAccess), they own 2.000 ATM each. If there are over 7.700 ATM right now all of them aren't Bitcoin exclusive, which means some of them also support Altcoins like Litecoin and Ethereum. In terms of legislation the ATM need to respect the AML/KYC standards, but things are pretty complicated especially in Canada where those ATM aren't regulated yet, however in the USA it is regulated, the owner must have a license which complies the owner with the law. 

Geographically speaking the USA are the leaders in terms of cryptocurrency's ATM with over 5.500 machines on their floor, it means they currently own 71% of the total amount. Then comes Canada with 750 ATM and Great Britain with 300. Since the beginning of the year 2020, the growth of Bitcoin's ATM has never been so important with an increase of around 21% (and it has only been 4 months). 

3. Due to the current situation what can we expect in the future :

Like I said the number of ATM increased a lot since the beginning of the year which show a huge gain of interest in these distributors and also in cryptocurrency in general. Moreover, despite the confinement due to COVID-19 which restrict people to go outside like they wish and so reduces the use of all kind of ATM, the last 2 months are those who have seen the most new Bitcoin's ATM.

Very surprising right that the 2 months of confinement have seen the arrival of a total of 707 new ATM, a record since 2013. We can explain with the current situation which allow Bitcoin and other cryptocurrency to have a growth never seen before, to give you an idea Bitcoin managed to recover from the March 12 crash in only few weeks and its value is currently over $9.800, it could be way more after the halving (or not, we will see).

But for me the main disadvantage of Bitcoin's ATM are the transactions fees, transactions fees are the haunted of all traders and with ATM they are around 8.9% which is huge considering the transactions fees online. However despite this issue I think the best is to come for these Bitcoin's ATM, they are going to benefit the massive growth of cryptocurrencies, will participate to democratize cryptocurrency in general and will offer a new way concerning cryptocurrency trading.