Global Bitcoin ATM installations hit 10,000 today, seven years after the first machine debuted. Their numbers have risen by an average of 167%, year-on-year, according to data from Norwegian financial services company AksjeBloggen.
In fact, 2020 has far surpassed previous years. In the first nine months, the number of ATMs rose by 3,885—a 67% increase on 2019.
It’s an indication of COVID-19’s effect on the industry—as it ushers in a wider trend towards the use of more innovative forms of financial interaction—and the rude health of the cryptocurrency sector.
ATMs are proving to be one the most convenient and quickest ways to transfer physical cash into Bitcoin or other cryptocurrencies, Daniel Polotsky, CEO, and co-founder of leading US Bitcoin ATM operator CoinFlip, told Decrypt.