Using a Bitcoin ATM may be the most convenient way to obtain cryptocurrency right now. With nearly 1,000 of these machines installed all over the world, it is a good time to look at prime locations to buy Bitcoin with cash. A lot of work still needs to be done before this is a global trend, though, but things are evolving in the right direction.
#5 New York State
The United States is home to over half of the Bitcoin ATMs in operation right now. A lot of these devices can be found in the New York State area, as 75 machines are installed there. This is quite a significant number which indicates that New York City may become the Bitcoin ATM capital of the world in the future. After all, the City and its suburbs are home to 42 ATMs.
But New York is not the only area in the US seeing an influx of Bitcoin teller machines. The State of California (84 teller machines) as well Illinois (62 ATMs) show an increasing demand for Bitcoin in those particular regions. At the same time, multiple states have no Bitcoin ATM capabilities right now, including North and South Dakota, Wyoming, and New Mexico.
#3 United Kingdom
As much as Americans may like to think otherwise, the US is not the only part of the world that matters. Bitcoin ATMs are spreading all over the world, and the United Kingdom is the market leader in Western Europe. Most machines can be found in London, although Manchester, Bournemouth, and Brighton should not be discounted either. Plenty of opportunities lies ahead in the UK for manufacturers and operators who are willing to take the gamble.
One could argue that the Western world will be less keen to embrace Bitcoin ATMs, and that statement holds some merit. Developing regions can benefit a lot more from Bitcoin, yet market penetration is small. Romania is home to five bitcoin ATMs, which is a good start, though. Four out of five devices are in Bucharest, with one in Cluj-Napoca.
Interesting regions to keep an eye on over the coming years are Indonesia and Vietnam. Both countries have three Bitcoin ATMs installed currently, although that number could increase exponentially rather quickly. Financial inclusion is somewhat limited in both regions, and Bitcoin gives consumers access to financial services that may otherwise be out of reach.
It is evident that a lot of work needs to be done before Bitcoin ATMs become a global trend. Right now, an average of two devices is installed every single day, which is quite impressive. However, that number will need to double or triple before we can even speak of a major effort. With just 59 countries housing Bitcoin ATMs right now, global market domination is still far away.
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