Bitcoin ATM Locations
Check out the hottest Bitcoin ATM spots available in the world at the moment. Learn some interesting facts about the mass adoption of cryptocurrencies.
One of the primary driving forces behind the entire crypto revolution is that it’s digital. Decentralized. It’s a computer code floating through the nethers. Anyone can use it, no matter where you live or what borders constrain your physical presence.
But doesn’t everyone like to surround themselves with like-minded folks? So, what’s a crypto-enthusiast to do?
It’s certainly not a simple matter. The whole point of the crypto sphere is that it lives wherever crypto revolutionaries reside. That could be, well, anywhere. So, where do individuals looking to uncover the world's crypto-friendly places begin their search?
Cryptocurrency ATM: Easy to Access Even for Non-Crypto People
ATMs sound old school. Does anyone still use ATMs now that the digital wallet exists?
Well, the fact is that Crypto ATMs may be the bridge we all need to help enable and ease cryptocurrency adoption. Some of the latest forecasts suggest that the market for Crypto ATMs is set to reach $1.76 Billion by 2025.
Similar to cash ATMs, a Bitcoin ATM allows a transaction to occur. However, the transaction isn’t via a bank. Instead, it involves purchasing or selling Bitcoin using a swipe of a (cash-based) card or even hard cash. So, instead of going online to invest in Bitcoin, users must have access to money and visit a physical place.
For those who want a way to access a digital wallet (for buying a Big Mac or even paying bills) without opening up a bank account, digital currency is a great option. Bitcoin ATMs help facilitate the process. It could even be used as a new alternative method to send money to other countries (instead of walking into a Western Union, for example) or might even prove handy when you forget your pin for your debit card.
Mainly bitcoin ATMs are used to purchase Bitcoin. With all the buzz around bitcoin and cryptocurrency last year, bitcoin ATMs are an excellent way for new adaptors to dip their toe in the water. Time to test it out?
What’s cool about looking at the number of Bitcoin ATMs versus just looking at places where Bitcoin is mined or where many financial technology businesses exist is that these are a veritable middle ground. They are easy to access by someone who is NOT a crypto-nerd. They are easy to access often by regular Joe’s because they are located in heavily traveled areas by ordinary people. They are also straightforward to operate.
Sometimes the crypto world can be intimidating to those not well-versed in the industry. However, Bitcoin ATMs are familiar to those who have used traditional money and are interested in trying this new digital currency.
Bitcoin ATM Locations Around the World
While the number of total Bitcoin ATMs might not highlight every nationwide city that is a crypto-hotspot, it gives us some interesting insights.
Check out the following study from moveBuddha, a moving company working to determine which cities crypto-enthusiasts might be moving to The World’s Most Crypto-Friendly Cities.
At the highest level, the US dominates, but once you cross over the concentration of Bitcoin ATMs with the total population and GDP, it gets more interesting.
For example, they sorted the top countries by Bitcoin ATMs per 10,000 residents:
Significant hotspots still come in at the top (like the US and Canada). Still, in the lower tier, smaller countries like Slovakia, Slovenia, and Georgia step into the light.
Slovakia has been wrestling for the crowning title of “Home to First European Bitcoin ATM.” According to the story, Finnish folk tried to take the crown from Slovakians, but on December 8th (2013), a permanent unit was set up in Bratislava. This city has an active Bitcoin community of early adaptors. They also like to claim a local Subway as the first outlet of this franchise to accept Bitcoin. Early adaptors are always great at laying foundations to encourage growth. So, there’s no doubt Slovakia is one of those unsuspecting spots where crypto-enthusiasts will feel right at home.
Next up on the radar - Slovenia. Though small (only around 2 million residents), after joining the European Union in 2004, Slovenia has continued to grow its economic and business profile. Since Satoshi Nakamoto released the first papers, it has latched onto the crypto culture. As of August 8 (2020), over 1000 locations in Slovenia accepted cryptocurrency as payment, including a wide range of businesses such as cafes, dentists, and hotels.
Thanks to affordable hydro-power, Georgia is one of the hottest spots for crypto mining. Since mining has taken root, it’s also spread across the small country. For example, Tbilisi, Georgia, came is as the number one international city when the total number of Bitcoin ATMs was compared with city's GDP of $10,000:
Interestingly, there are only 23 total Bitcoin ATMs in the whole town!
Other exciting news: Georgia is the first place where a political campaign was funded by crypto mining.
While it wasn’t overly successful, the idea could be used in the future to help resonate with younger voters.
Kristen M Klepac
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