Bitcoin ATMs hit a new milestone today...
The number of bitcoin ATMs globally has now gone over the 6k mark for the first time ever.
The total comes in at 6,016 globally.
According to data seen here:
This is an interesting development for bitcoin adoption, especially since a year ago at this time there were roughly 3,900 bitcoin ATMs world wide.
Cool, why does this matter?
The rate of growth is what is most interesting to me.
As of a few weeks ago, there were 5,900.
Which means over a hundred have been added in the past few weeks alone.
And a year ago today, there were roughly half the number that exist today.
Why is this rapid expansion happening?
This rapid expansion is mostly happening in the US and it appears to be partly from a nifty software upgrade.
With a minor upgrade, traditional ATMs can now also become bitcoin ATMs.
That is a very big development.
More info about this can be seen here:
Overall, this is good news.
My experience with bitcoin ATMs a few years ago was not a good one.
The ATMs had extremely high fees, something that I am not sure has really changed all that much, though they didn't have KYC back then.
At the time I went to use one the total fees I was going to end up paying were somewhere between 20-30%.
Which made the whole thing a non starter as far as I was concerned.
Now, many of the bitcoin ATMs have KYC implemented and if they don't, they soon will.
Either way, turning tradition ATMs into bitcoin ATMs is a major development!
Stay informed my friends.