Cryptocurrency ATMs continue to grow in number worldwide. According to Coinatmradar, a website that monitors cryptocurrency ATMs, the number has exceeded six thousand ATMs, spread across 75 countries. Most of this growth occurred in 2019, where a growth rate of about 50% in the total number of cryptocurrency ATMs was experienced. The United States remains the world leader when it comes to cryptocurrency ATMs, having four thousand out of the recorded six thousand crypto ATMs in the world. Other countries like the UK and Canada showed promising growth in the number of crypto ATMs as well. Reports indicated that several of these machines came with a range of services to satisfy the growing number of cryptocurrency entrepreneurs.
CoinFlip is one of the American crypto exchange services that offer crypto ATMs. Using this exchange is advantageous in that you are allowed to purchase bitcoin and six other types of cryptocurrency using paper cash. This service has been made possible through the Bitcoin ATMs that have placed in various locations within the United States. Another great thing about CoinFlip is that they offer a same-day settlement for all wire transactions. They also provide live customer support and service at any time and day.
After using the FlipCoin ATM, transactions are broadcast automatically onto the blockchain. The average time that your transaction on the crypto ATM takes depends on how long the miners will take to verify your transaction. It should take an average of 20 minutes if there are no delays in the blockchain. The charges on Coinflip are relatively fair. At their ATMs, the rate for buying BTC is 6.99% above the XBX Tradebblock index spot and 3.99% below for sales. In some locations, the charges may be lower due to less operational expenses. They charge a standard flat fee of $0.99 to cover mining costs. This fee may be slightly higher in times of high demand to ensure timely processing of transactions.
While the United States dominates the market for cryptocurrency ATMs with more than 50%, the number of crypto ATMs in Canada has risen significantly as well. At the end of 2019, Canada had 733 sites where crypto ATMs can be accessed. The United Kingdom follows closely with about three hundred sites while Australia had 195. In the United States, Los Angeles leads with the highest number of crypto ATMs followed closely by the states of Atlanta and Chicago.
It is estimated that six new cryptocurrency ATMs get installed every day. If this rate is maintained and the market remains favorable, the 10,000 milestones should be achieved within no time. Potential ATM investors are encouraged not to shy away from the business. Through this venture, you can generate a significant income, and you do not require a massive network or capital injection to start. With as low as $3250 to $4500, you can purchase a crypto ATM from companies such as General Bytes and Genesis Coin, respectively.
These companies have significantly influenced the growth of crypto ATMs in number by installing 69 and 24 new machines in June 2019, respectively. Other companies such as Lamassu and Bitaccess contributed to this growth as well. Bitquick remains in the lead when it comes to companies dominating the crypto ATM platform. Bitnovo Teller, a Spanish based crypto ATM service that also offers crypto buying and selling services, takes second place.