Lamassu • Bitcoin • Robocoin • Other Public Protocols • Other Public Protocols • Bitcoin ATMs
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Mike Tyson made headlines earlier today after he unveiled his first branded bitcoin ATM in Las Vegas.
Although he is just the latest celebrity to speak out in favour of the digital currency, the ex-heavyweight champion of the world's decision to lend his image to a bitcoin hardware ATM first sent shockwaves across the crypto world when it was announced in July.
Celebrity endorsements aside, what do we know about the general state of the bitcoin ATM industry? Are the number of machines being installed in decline? Which country hosts the most number of machines? CoinDesk has looked at CoinATMRadar data in an attempt to decipher industry trends.
Bitcoin ATMs Installed Over Time
The graph below depicts a steady increase in the number of bitcoin ATMs installed to date, suggesting there is no link between the digital currency's price volatility and the number of machines installed across the globe.
In November 2013, when bitcoin was priced at approximately $198 there was only one reported bitcoin ATM installed. Since then, the number of bitcoin ATMs has risen to 471.
During this time, bitcoin has experienced notorious bouts of volatility – rising to over $1,100 on 30th November 2013 and dropping below the $200 mark in January 2015.
Has this perceived uptrend translated into hardware sales?
Speaking about his company's performance, Karel Kyovsky, the owner of bitcoin manufacturer General Bytes, told CoinDesk:
"The first quarter of 2015 was very weak. But the final quarter of 2014 was very strong and the second quarter of 2015 was also very strong."
Karel Kyovsky
Market Share of Bitcoin ATM Manufacturers
There are a number of companies competing in the bitcoin ATM space, but which is the most popular?
Lamassu – closely followed by Genesis Coin – controls most of the market share, at 28.24%.
Bitcoin ATMs By Continent
Data suggests North America has the largest number of bitcoin ATMs.
In stark contrast, Africa is the continent with the least amount of installed machines, with just 0.21% of total machines.
Bitcoin ATMs By Country
A further breakdown of the data by country installations shows that the United States and Canada top the table with 168 and 83 machines, respectively.
Fees
471
Bitcoin ATMs in total
5.56%
Average fee. This has been calculated based on 296 machines supporting buy operations, and 133 ATMs supporting sell operations.
5.71%
Average buy fee
5.23%
Average sell fee
Bitcoin ATMs In Numbers | Create infographics
Bitcoin image via Shutterstock.
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https://www.coindesk.com/bitcoin-atm-industry-a-look-at-the-numbers/