Based on a recent report, the total number of Bitcoin automated transaction machines (ATMs) has increased beyond 5,000.
5,006 Bitcoin ATMs Installed So Far
To be exact, the total number of BATMs now available in 90 countries where Bitcoin can be traded is 5,006. However, most of these machines cannot be used for buying and selling of the token at the same time.
The United States which is the largest provider of Bitcoin ATMs has machines in 3,229 different locations. The U.S is followed by Canada where the first Bitcoin ATM in the world was installed in downtown Vancouver almost 6 years ago. Canada has to has 687 BATMs in total. The third country with the highest Bitcoin ATMs is Austria with machines in 266 positions and the fourth is the UK which has machines in 249 locations.
The fifth country which completes the top five in Spain which has 89 locations.
The two major producers of Bitcoin ATMs are General Bytes and Genesis Coin. Both companies have 1,576 and 1,525 Bitcoin ATMs installed worldwide respectively. The increase in the number of ATM installations depends on the price of Bitcoin and about 60% of the total have been installed since January 2018.
Although not well covered under most country’s regulatory framework, Bitcoin ATMs has come under serious scrutiny in recent times.
Bitcoin ATM Related Scams Are On the Rise
In other news, the Australian Tax Office (ATO) issued a warning last November stating that in order to scam vulnerable people, fraudsters were asking for payments via Bitcoin ATMs.
Also, the Financial Crimes Unit of the Windsor Police in Ontario, Canada issued a warning via social media giant Twitter last week stating that there have been several reports of scams related to Bitcoin ATMs.
The post stated that:
“The WPS Financial Crimes Unit has received numerous reports of frauds involving BITCOIN ATM’s.” “Victims are being pressured by scammers to attend the machines and send bitcoins.”
REMINDER: Government agencies will NOT accept bitcoin.