The World Invests in Cryptocurrency ATMs. The total number of devices worldwide has already exceeded 10,000 according to the Coin ATM Radar. As stated by the Norwegian financial company AksjeBloggen, the number of crypto ATMs grew by 167 percent over the year.
Сrypto ATMs are specialized payment terminals for easy and fast purchasing cryptocurrency. Before the advent of crypto mate, investing in cryptocurrencies seemed to be something completely inaccessible. It was necessary to register on the stock market and go through the verification procedure. The cryptocurrency purchase on trading platforms could take weeks.
Crypto ATM was a breakthrough in crypt-investing
The rise in the number of devices indicates the adoption of digital assets. However, not all countries have prepared legal standards for this rapidly growing market. State authorities work for the legislative framework so that crypto maps do not become a method of money laundering and tax evasion,” says the Penkių kontinentų bankinės technologies (BS/2) CTO and the director of the BS/2 Georgia Andrej Smirnov.
In recent years, the United States remains the leader in the number of devices. The number of crypto ATMs in the USA is approaching 8,500, a 127% jump year-on-year. Canada is in second place, and Great Britain is in third. In total, Europe accounts for 20% of all crypto ATMs, and in Asia, despite the great popularity of cryptocurrencies, there are only 2%.
Estonia is the leader in the number of crypto mats in the Baltic States. In Addition, ranks 37th. It ranks 20th in terms of the number of crypto ATMs and third in terms of mining (after China and Venezuela). Our subsidiary BS/2 Georgia is responsible for the crypto mate network maintenance.
In Addition, According to him, crypto mats have some differences from traditional ATMs, such as the ability to buy or sell cryptocurrencies and carry out financial transactions through e-wallets, not bank accounts.
A Few Things to Consider Before Looking at 2019’s Crypto ATM Providers
Crypto ATMs are growing in popularity as numerous manufacturers have helped make these machines more accessible. There is now more than 4,400 cryptocurrency dispensing ATMs worldwide located in 77 countries. There’s also a slew of producers who build these devices, enabling anyone to purchase one or more machines in order to sell cryptos locally. Starting a crypto ATM operation is not easy as the entrepreneur must come up with capital for the cost of the device(s) and they have to be able to maintain the ATM as well.
Moreover, people thinking about purchasing a bitcoin ATM should consider the laws where they reside and make sure it’s okay to deploy a money transmitting device in the region. Finally, the crypto ATM has to have a decent location where it will see a lot of foot traffic and visitors. You can’t just install a crypto ATM wherever you please as operators usually make deals with local bars or convenience stores so the machine rests in a busy area. Only once these matters have been determined is it possible to begin shopping for the perfect crypto ATM.
The World’s Top Crypto ATM Providers
Israel-based company Lamassu has been a well-known cryptocurrency ATM manufacturer for years. The firm was the first to create a two-way ATM. That allows people to not only purchase cryptocurrencies like bitcoin but sell digital assets as well. Lamassu currently manufactures four different models: the Douro II ($5,897), the Sintra Forte Cryptomat ($10,094). The Sintra two-way ($8,506), and the recently launched Gaia ($4,083).