Despite market capitalization dropping to a low point since Q4 2018, the number of crypto ATMs globally has been on a steady rise. Coin ATM Radar released a statement which further confirmed that there has been a massive increase in interest of cryptos.
209 New Crypto ATMs Worldwide
According to the statement, 209 new ATMs were installed across the world in November alone. This is despite the fall in the value of Bitcoin. It further revealed information on the close down of 68 previously opened kiosks which brings the total number of tellers to 141. This indicates a positive sign for the industry and investors looking for reasons to stay invested in various virtual currency in the next year.
It is important to note that, although teller kiosks do not have the same storage status as institutional investments, neither are they approved by the Exchange Traded Fund or by major advertisement channels like Facebook, they still serve as an indication of which direction crypto adoption is heading towards.
For some crypto enthusiast, the fall in value and price of virtual currency indicates a not so bright future for the industry and innovation of the technology created while for others, it is just “an indistinct background of broader adoption of a transaction using virtual currency and Bitcoin.”
2,243 Crypto ATMs Operational Within the U.S
With 2,243 crypto ATMs operational within the U.S alone, and many more being available globally, it is quite obvious that more people are now getting involved with cryptos. Data compiled by Coin ATM Radar showed that there was a 59 percent increase in the number of accepted altcoins by crypto ATMs’ by November.
Also, with over 13 million users, the popular U.S. based cryptocurrency exchange, Coinbase has been able to make a major impact in increasing crypto exposure for casual investors by adding more altcoins to its meager selection over the last month.