Crypto_ATM

Crypto ATM growth lead by EU & North America

By Keith Thuerk | New to Crypto's? | 8 Sep 2021


Crypto ATM growth lead by EU & North America

It's hard to believe it was 10-months ago I wrote a piece on Crypto ATM's (as a follow-on to my Nov. 8th '20 which is you missed it you can catch it here - https://www.publish0x.com/new-to-cryptos/us-crypto-atm-market-growth-xllpqgo

IF we were to just compare total ATM's deployed we would see in Nov. '20 the US had 9242 Crypto ATM's to Sept. '21 we would have 24, 669 Crypto ATM's.  But, what does that really show us? Sure a bigger number, what I mean is what is behind the growth?  I know that Circle has partnered with Circle K convenience stores 756ace38b53d966f1d4fc12df28e0ae9ef4425a51d01f9f9ffc810c4bbb27cb5.png to allow Crypto ATM's to be deployed in their stores. That accounts for about 900 installs YTD.  Where are all the other Crypto ATM's being installed? Being curious,  I utilized my search engine (PRE) and found that you can find Crypto ATM's near you via https://www.bitcoin.com/bitcoin-atm/ and https://coinatmradar.com/ and https://www.generalbytes.com/en/

However, more to my point - I suspected that I would be able to drill down to huge Airports like (JFK, Logan, LAX) and find Crypto ATM's - I was wrong, they are more located in Financial districts

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Source - https://www.statista.com/chartoftheday/

The dark side of the Urban areas are that ATM theft or attempted theft - wondering how long before thieves think they can steal a Crypto ATM to get all the Crypto inside?  The joke would be on them for certain!

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Comparing Geography

The 48 contiguous US states account 2,802 miles (4,509 km) between Florida and the State of Washington;[6] the greatest north–south line is 1,650 miles (2,660 km). With nearly 350M people that density of Crypto ATM's is still focused as one might expect in Urban areas (where the people are).

Keep in mind that yesterday 09/07/21 El Salvador was the first country on the planet to move to the BTC as legal tender status and they only have four (4) Crypto ATM's. Comparing land size El Salvador shares borders with Guatemala and Honduras, the total national boundary length is 546 km (339 mi): 126 miles (203 km) with Guatemala and 343 km (213 mi) with Honduras.

 

Summary - Sure the US Crypto ATM install footprint is up 2.66x YoY, however,  I expect that number to continue to swell as Crypto's go mainstream, not just with Financial Institutions but with the Retail investors looking to get out of their shrinking FIAT $

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Keith Thuerk
Keith Thuerk

Currently learning about Crypto and DeFi to combat the Inflationary Tidal wave coming our way!


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