More and more Bitcoin vending machines are being installed worldwide. The vending machines for buying Bitcoins and sometimes other cryptocurrencies are a popular alternative for buying digital assets anonymously. The fact that more and more stock exchanges are promoting private data of their users is causing the growth of the vending machines to increase.
Bitcoin vending machines: 555 operators in 73 countries
This is because the number of Bitcoin machines worldwide recently reached 8,000 and currently stands at 8,208. coinatmradar, a data analyst, regularly collects and publishes this information. In 73 countries worldwide, operated by 555 different companies, the machines are used to purchase cryptocurrencies such as Bitcoin.
Providing personal data and personal IDs is a thorn in the side of many crypto fans. If the users want to remain anonymous, this is prevented by the registration processes of the exchanges. This is why so-called Bitcoin vending machines are becoming increasingly popular in the community. As the following chart shows, the number of Bitcoin vending machines has been growing continuously since 2014:
In addition to Bitcoin (BTC), certain vending machines also offer the cryptocurrencies Ethereum (ETH), Bitcoin Cash (BCH), Dash (DASH), Litecoin (LTC), ZCash (ZEC), Monero (XMR), Dogecoin (DOGE), Tether (USDT) and Ripple (XRP). The largest operator of Bitcoin vending machines is CoinCloud, followed by Coinflip and Bitcoin Depot.
Bitcoin vending machines: Germany lags behind
While in Germany, apart from a few exceptions, people are still looking in vain for such machines, neighbouring countries such as Austria are much more advanced. If Germany lists a total of 48 vending machines as of 17 June 2020, Austria already has 155 of them. In Switzerland, customers will be able to buy their cryptocurrencies from 78 vending machines.
Of the total of 8,200 vending machines, 83.4% are located in North America: 73.9% in the USA and 9% in Canada. In Europe, 14% of Bitcoin vending machines are located in Europe, 1.5% in Asia and 0.8% in South America. Africa has the lowest share with only 13 machines, which corresponds to 0.2%.
The growing popularity of Bitcoin vending machines in the U.S. benefits not only the customers through better availability, but also the operators. Coinstar plans to double the number of vending machines in the USA, after usage has increased by 40%.