According to the latest data from cryptocurrency ATM tracking site Coinatmradar, the number of Bitcoin ATMs (BTMs) worldwide is steadily approaching the 9,000 mark. As of the end of July 2020, there were 8,947 cryptocurrency ATMs across 71 countries, along with 211,239 non-ATM locations where users can buy or sell cryptocurrencies. In July alone, the net addition was 429 machines, with 544 new installations and 115 closures.
US Dominates, Canada and UK Follow
The United States continues to lead with 6,879 Bitcoin ATMs, concentrated in Los Angeles, Chicago, Miami, Houston, Dallas, and Atlanta. Canada ranks second with 816 machines, primarily in Toronto, Montreal, and Vancouver. Other countries with over 50 BTMs include the United Kingdom, Austria, Switzerland, Spain, Germany, Czech Republic, Poland, and Italy.
Manufacturer and Operator Landscape
In terms of manufacturers, Genesis Coin tops the list with 3,101 units installed, adding 157 in July. General Bytes follows with 2,661 machines (103 added in July). Coinsource also added 56 units. Among operators, Bitcoin Depot operates the most machines at 791 (46 added in July), trailed by Rockitcoin (436), ATM Coiners, Coincloud, Coinflip, and Coinsource.
Regulatory Scrutiny and Risks
The rapid expansion of Bitcoin ATMs has drawn regulatory attention. The U.S. Department of Justice recently cracked down on an illegal BTM operation involving $25 million, seizing 17 machines for failing to comply with anti-money laundering (AML) requirements. Blockchain analytics firm Ciphertrace reported that 88% of funds sent by U.S.-based BTMs to exchanges in 2019 flowed to offshore platforms, with users sending more funds to high-risk exchanges than low-risk ones, highlighting the need for enhanced oversight.
As compliance standards tighten and market education advances, Bitcoin ATMs are expected to continue developing in a more regulated environment, offering convenient crypto exchange services globally.