In spite of a decrease in cryptocurrencies market capital in the last months of 2018, the number of cryptocurrency ATMs has grown, in a way that according to the published statistics in 2018, the average of 3 new ATMs have been installed and utilized. On the contrary to common ATMs, which allow withdrawal of official currencies like Dollar and Euro, cryptocurrency ATMs act similar to the Currency Exchange system and make possible cash-to-cryptocurrency and vice versa conversion anonymously. ATMs which solely allow currency-to-cryptocurrency conversion are called one-way and those allowing the opposite process besides the first feature are called two-way. According to Bitcoin ATM Radar report, more than 4000 machines are offering services in more than 70 countries of the world. Almost all ATMs support Bitcoin cryptocurrency; however, there are machines with wider cryptocurrency support too. After Bitcoin, Ethereum, Litecoin, Dash, Dogecoin, Zcash, and Monero have the greatest frequency among supported cryptocurrencies in cryptocurrency ATMs.
Geographical dispersion of the machines giving service shows its high concentration in North America with more than 71%. More than half of machines in the United States are giving services now. Europe with 23% and Asia with 2.6% have lower ranks.
According to predictions, manufacturing market of these machines will face a 54% growth in the next five years; according to this prediction, the Dollar value of this market will be $145 million at the end of 2023. The other point is that in recent months there has been some resistance against it. As an example, the first cryptocurrency ATM kiosk in India was closed after being installed and launched due to lack of necessary permissions.
According to the published statistics from Bitcoin ATM Radar, 209 new machines and 78 older ones have been collected in November because of various reasons; in other words, just in this month, only 141 machines have been added to the number of active machines across the world, which shows a dramatic growth. Doubling the number of cryptocurrency machines in 2018 despite the decrease in cryptocurrency types value is another fact which cannot be neglected. It can be assumed as a positive view on the part of these manufacturing and supporting companies to the market status in the future. The greater number of machines shows this fact that more people look at cryptocurrency like the way they see their currency.
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