Essential Bitcoin ATM Industry Statistics: Trends and Insights

Key Statistics for the Bitcoin ATM Industry 

CoinFlip was founded in a Northwestern University dorm room in 2015, at a time when there were only a few hundred Bitcoin ATMs online, and many of the coins and tokens currently offered weren’t yet invented. Since then, CoinFlip has grown to around 5,500 machines across 10 countries, while crypto ATMs across all companies and manufacturers swelled to almost 40,000 active units globally.  

In this blog we’ll review some of the key statistics driving the Bitcoin ATM (BATM) industry and CoinFlip’s role in it. Note that BATMs can also be called crypto kiosks, especially outside the U.S. 

Global BATM Adoption 

Bitcoin ATM installation growth by coinatmradar.com 

BATMs offer a safe and convenient way to buy and sell Bitcoin and other digital currencies with cash.  

The kiosks are connected to the internet and use blockchain technology to record crypto transactions, which makes the transactions transparent and traceable. 

The BATM industry mirrors the general cryptocurrency market in many ways. There was astronomical growth during the pandemic and in its immediate aftermath, followed by a brief contraction when several companies exited the industry. CoinFlip continued to grow its BATM operations during the contraction to become one of the largest global operators.  

Top Operators by coinatmradar.com 

While CoinFlip controls the second largest BATM fleet, we pride ourselves on optimization and placement, in a “quality plus quantity” approach. Each CoinFlip BATM location is analyzed to ensure maximum benefit to CoinFlip customers by providing a reputable host, an easy-to-reach placement, and secure surroundings. Learn more about our host process here.  

Most popular coins by coinatmradar.com 

Again, just like the general cryptocurrency market, Bitcoin is the most popular cryptocurrency at BATMs. Most transactions at CoinFlip ATMs involve Bitcoin, with Ethereum or Litecoin coming up a distant second.  

CoinFlip ATM Network Fast Facts 

Most BATMs are manufactured by a handful of companies. However, all our machines contain customizations for security and improved performance. We configure most of our machines in Chicago, then transport them across the world through our shipping partners.  

• We pioneered the customer-first model, with an award-winning 24/7 customer support team and the gold standard compliance program.  

• We have processed over 4 billion dollars in transaction volume since inception.  

• As of publication, we operate around 5,500 BATMs, and growing, across the USA, Canada, Italy, Spain, Mexico, Panama, Australia, South Africa, New Zealand, and Brazil.  

• Our highest concentration of machines is in California, where we also offer a cashier-assisted service for larger transactions. 

• Our northernmost BATM, in Fairbanks Alaska, is less than 200 miles from the Arctic circle.  

• Our satisfaction surveys show that eight out of ten customers find our machines to be easy or extremely easy to use.  

CoinFlip ATM Demographics 

The crypto user base has changed over the years, but here is the current makeup of our customers, based on recent survey results.  

Results come from our rolling self-surveys. Other findings include: 

• 74% say a crypto kiosk was the first method they ever used to buy or sell cryptocurrency.  

• 45% of customers learned about CoinFlip through word-of-mouth, while 25% learned about us through social media.  Check us out at Facebook, Instagram, X, Linkedin, YouTube, TikTok and Reddit.  

• Most customers cite “simplicity” and “ability to deal in cash” as their main reasons for using CoinFlip ATMs.  

• People who buy crypto use it! Most of our customers use the blockchain to send money or buy something  

The Future of Crypto ATMs 

Close to 28% of Americans own crypto, which is almost double the amount from four years ago, according to a recent study, and the trend points to increased crypto usage throughout the world. CoinFlip’s plan is to optimize its fleet in the U.S., but the international market will likely see the most rapid cryptocurrency ATM adoption in the coming years. For this reason, CoinFlip will continue its spread across the continents, hopefully entering some untapped markets too.  

As the previously mentioned study shows, most crypto owners expect their holdings to increase in value. To make that a reality, there will need to be a robust on-ramping system to get paper money into and out of the digital economy. CoinFlip ATMs are simple, safe and convenient, making them the ideal nexus for connecting the digital and physical worlds.