While some investors are weathering the crypto storm confidently, many have jumped ship, but one group has proven resilient despite market conditions: Bitcoin ATM providers.

Bitcoin ATM installations Outpacing Traditional ATMs

As CryptoAnswers’ Creighton Piper details, installations have gone parabolic over past weeks/months, as seen below.

Chart courtesy of CoinATMRadar.com via amCharts

136 Bitcoin ATMs (BTMs) were installed during the market pullback alone, bringing the worldwide total to 2177 as tracked by CoinATMRadar.com. On average, 5 BTM locations spring up every day. This is just one more example of how the crypto ecosystem continues to grow, despite depressing market sentiment.

The United States still dominates the BTM industry with 1296 locations nationwide. This is a marked 30% increase since we last covered this development in October 2017. Canada and the UK follow with 340 locations and 109 locations respectively.

Top 5 countries: USA, Canada, UK, Austria, Spain

Bitcoin ATMs Expand Access to Top Cryptocurrencies

BTMs are beginning to pop up everywhere. Las Angeles alone boasts 165 units, and New York has 127. They offer quick, easy access to anyone needing to acquire and use Bitcoin on the fly. Transactions are instant, but this convenience comes at a price. Buying Bitcoin incurs a ~9% fee, while selling fetches a 7% fee.

In addition to Bitcoin, many locations offer Litecoin (905), Ether (332), and DASH (173) as well. Of the 2177 total BTMs, 944 of them offer some sort of altcoin support, and some of them even offer Dogecoin and/or Monero.

Privacy Issues

Until recently, fiat could be converted to crypto with nothing more than cash in your pocket. Personal details were unnecessary, and transactions could be made anonymously. This was great for innocent users to take advantage of, but it also allowed black-market operatives easy access. Most BTM manufacturers are beginning to incorporate identification features now to comply with increasing regulation. Operators may opt to disable those features but are often mandated to use them. Some locations are still able to be used anonymously, but generally, a phone number is required. BTMs remain the go-to resource for private transactions, however. Exchanges maintain an arsenal of client data, while BTMs do not. They help distance users from centralized banks and exchanges and keep private details safe. Anyone off-put by the phone number requirement can sidestep using a burn phone.