Bitcoin Depot surpasses 5,000 ATMs in North America
The company announced that it has tripled its kiosk count over the last six months
As the crypto market continues to capture mainstream interest, the world’s largest crypto ATM network, Bitcoin Depot, reached a new milestone when it announced that it’s now operating more than 5,000 Bitcoin ATMs across the United States and Canada.
The company said it has tripled its kiosk count over the past six months, providing access to cryptocurrency transactions for communities all across North America, especially the underbanked – those people and organisations who don’t have access to mainstream financial services and products.
“We're thrilled to achieve a new and tremendous milestone with over 5,000 crypto ATMs on the heels of Bitcoin Depot’s fifth anniversary and a long-term partnership with Circle K,” said Brandon Mintz, President & CEO at Bitcoin Depot.
“The demand from consumers and retail industry giants continues to grow. This gives us a greater opportunity to expose Bitcoin Depot ATMs to individuals seeking convenient access to alternative financial services and cryptocurrency,” he added.
The rising popularity of cryptocurrency saw Bitcoin Depot recently launch a partnership with leading convenience and fuel retailer, Circle K.
Bitcoin ATM market expected to grow over the next five years
According to ResearchAndMarkets.com, the bitcoin technology market registered a CAGR of 8.3% over the forecasted period 2021-2026, following on from its valuation of $273 million, made in 2018.
“The true size and nature of the Bitcoin market are determined by the transaction volume data,” said researchers in a press release. “Due to the zero risk of inflation, bitcoin is trending over the years. The bitcoin system was created with the sole purpose of being finite. Thus, without the possibility of issuing excess currency, the threat of inflation comes down to almost zero. This point benefits both the seller and the buyer.”
The US leads the world when it comes to bitcoin ATMs, with around 24,751 according to CoinATMradar.com. The number of bitcoin ATMs installed worldwide has topped an all-time high with over 28,100 cash machines located across the globe. In total, 86.5% of all crypto ATMs are found in the United States.