A bitcoin ATM is a standalone device that allows members of the public to buy or sell bitcoin or other cryptocurrencies for a terminal. Bitcoin ATMs are connected to the Internet and often utilize QR codes to send and receive tokens to users’ digital wallets. There are 35800 ATMs in operation around the word (21800 ATMs more compared to August 2021).
How do these ATMs work?
A Bitcoin ATM allows customers to buy/sell BTC and even other cryptocurrencies. Bitcoin ATMs are rarely operated by major financial institutions and do not connect customers to a bank account. Depending on the transaction size, the bitcoin ATM may ask you for a mobile phone number to receive a text verification code. Or it may require you to scan government-issued identification, such as a driver’s license, before completing a transaction.
Bitcoin ATM Fees
Customers are charged a service fee as a percentage of the transaction ( not a fixed dollar value). The percentage is variable (1-5%).
Bitcoin ATMs by Country
Bitcoin ATMs are installed in many countries in the world. The current distribution of installations accross the countries is:
USA 31872 location
Canada 2337 locations
Spain 207 locations
El Salvador 205 locations
Poland 165 locations
Switzerland 144 locations
Hong Kong 139 locations
Austria 133 locations
Romania 122 locations
UK 89 locations
Italy 72 locations
Czech Republoic 72 locations
Greece 69 locations
Russian Federation 59 locations