Nine years after the first cryptocurrency automated teller machine (ATM) opened in Vancouver, British Columbia, there are now nearly 40,000 of the bank machines worldwide.
Globally, there are 38,804 cryptocurrency ATMs, according to data from Coin ATM Radar.
The hub for crypto ATMs is the United States, which is home to 88% of the machines. About 90% of all new cryptocurrency ATMs are installed in the U.S. each year, said Coin ATM Radar.
Canada, which pioneered cryptocurrency ATMs, now has 566 of the machines, representing 6.6% of the worldwide total.
Spain is the third-largest cryptocurrency ATM hub with a 0.6% global share from 215 machines.
A July report from Research and Markets estimated the cryptocurrency ATM market at $46.4 million U.S. annually but forecast that it will grow more than 10 times to $472 million U.S. by 2027.
Bitcoin (BTC) is the most popular cryptocurrency transacted on ATMs, with nearly 100% of the machines supporting the world’s biggest digital token.
