Bitcoin ATMs Globally Cross 16,000 Mark, Up 7.8% In February

By RTTNews Staff Writer | Published: 3/10/2021 9:35 AM ET

New Bitcoin ATM machines (BATM) installed across the world grew 7.8 percent or 1167 BATMs on month in February to a total of 16,101 BATMs, according to Coin ATM Radar. The speed of BATM installations maintained a stable rise of 7 to 8 percent.

In the month of February, 1310 BATMs were installed and 143 BATMs were closed to reach the net total of 16,101 BATMs installations by the end of February 2021.

The number of new machines continued to grow at a relatively stable rate of 7 to 8 percent, following the continuing rise of Bitcoin price, up by 39 percent in February to end the month at $46,156, while reaching an all-time high of $57,488 on the February 22.

As usual, United States continues to dominate the countries list in February, breaching the 1,000 mark with 1,050 new installations to a total of 13,319 BATMs. This is an 8.6 percent increase from the previous month.

Canada was second with an increase of 6.6 percent or 73 new machines to a total of 1,183 BATMs, followed by Hong Kong at fourth place with 18 new installations or a 27.7 percent increase.

The percentage of BATMs supporting any other cryptocurrencies than Bitcoin dropped a bit and is now at 66.5 percent in February. Bitcoin remained the most added coin with 1,358 additions in February.

Litecoin was the second most added coin in February with 1,072 additions, followed by Ether at third place with 943 additions. Dogecoin was at the fourth spot with 553 additions, due to its surging price in February after support from celebrities such as Elon Musk, Snoop Dogg, Gene Simmons and Kevin Jonas.

Last week, BATM provider Coinflip announced support for Dogecoin at all its 1,800 BATMs across 46 states in the United States from March 1.

Coin ATM Radar data shows significant growth in the number of BATMs since 2017, when there were only less than 2000 such machines in the world.

BATMs are now installed in 74 countries in the world, with 583 operators and 42 producers. More than 82 percent of the BATMs are concentrated in the United States.

In February, Genesis Coin and General Bytes installed the most BATM machines – 472 and 351, respectively.

These two firms continue to be the top BATM manufacturers. BitAccess was at third place with 80 new installations, while Coinsource was at fourth place with 76 new installations.

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe