As Bitcoin (BTC) acceptance increases, participants in the cryptocurrency sector are establishing infrastructure to make a smooth transition, and Bitcoin (BTC) ATMs are becoming one of the most common ways people buy Bitcoins.
Reportedly, during March, a record amount of 686 Bitcoin (BTC) ATMs were deployed worldwide, bringing the total number of Bitcoin (BTC) ATMs out there to 36,709 by the beginning of April.
This means that 22 new Bitcoin (BTC) ATMs were installed every day in March, as the overall number of Bitcoin (BTC) ATMs keeps expanding. According to Coin ATM Radar, the overall amount of crypto ATMs worldwide as of Monday is 36,733.
The growing count of Bitcoin (BTC) ATMs shows how critical the devices have become as cryptocurrencies attain global approval and recognition. The United States, especially, has seen the greatest Bitcoin (BTC) ATM deployments.
In 2021, about 20,000 new Bitcoin (BTC) ATMs were deployed, an average of more than 50 ATMs on a daily basis. As an outcome, suppliers and investors are likely confident about the long-term possibilities of the industry itself, regardless of the fact that the main digital asset Bitcoin (BTC) is still some distance from its all-time high after the market-wide crash at the end of 2021.
Bitcoin (BTC) ATMs cater to crypto traders seeking to gain from the asset without being subjected to the cumbersome Know Your Customer (KYC) procedures that are a usual practice on cryptocurrency exchanges.
Nevertheless, this privacy has resulted in the British Financial Conduct Authority (FCA) ordering all operators of cryptocurrency ATMs in the jurisdiction to promptly shut down their devices to avert legal action that could easily come from non-compliance on the matter.
The FCA communicated that “we are concerned about crypto ATM machines operating in the UK and will therefore be contacting the operators instructing that the machines be shut down or face further action.”
Singapore took dramatic measures to restrict consumer marketing of crypto assets by closing down Bitcoin (BTC) ATMs in the midst of a ban on cryptocurrency advertisements.