Over the past year, the number of cryptocurrency ATMs around the world has grown significantly, suggesting a rising interest in digital assets from consumers. Data on Coin ATM Radar reveals that the number of Bitcoin automated teller machines across the globe have now passed 10,000. Even more interesting is the fact that amid the economic uncertainties caused by the global COVID-19 pandemic, the crypto space has continued to thrive. Despite nationwide lockdowns, the number of Bitcoin ATMs installed month after month has continued to rise.
According to AksjeBloggen, a Norwegian financial service company, the digital asset ATM space has seen a 167% jump year-on-year. In December 2017, for example, there were only 1,932 Bitcoin ATMs in the world. By the end of 2018, this figure had soared to over 4,000, reaching 5,795 by December 2019. Within the last 8 months, this number has surged by nearly 87%, with over 4,300 new ATMs being added this year.
Whilst there may be several factors such as convenience responsible for this trend, the bottom line is that crypto ATMs across the globe may usher in a new wave of adoption and usability of digital assets.
KELTA, a blockchain service that focuses on offering computing power to crypto miners, scholars, and researchers has revealed plans to expand its cryptocurrency ATM networks in both Slovakia and abroad.
Barely a month ago, the firm announced the successful installation of its first cryptocurrency ATM. The automated teller machine which is at River Park in Bratislava, the capital city of Slovak Republic, supports both crypto withdrawals and deposits. Interested users can access the ATM 24/7 and perform transactions in Euros, Bitcoin, Ether, Litecoin and Zcash. Furthermore, there’s a cap of 5,000 EUR per transaction.
When it comes to siting ATMs, strategic location matters. Factors such as user traffic, security, parking and connectivity must be considered. For its first crypto ATM, KELTA chose an exclusive and accessible location next to the Danube River, with available parking options.
The company has plans to continue on this path. KELTA has revealed that it will open more ATM outlets in Slovakia, whilst ramping up effort to extend its product offering beyond the country. There are currently 49 ATM spots in Slovakia, with 17 of these outlets being in Bratislava.
KELTA will be targeting exclusive places that prioritize privacy to site its automated teller machines. In addition to privacy, the company will also be considering locations that offer space for meetings and business appointments.
Although the details and timeline for this implementation are still sketchy, one should expect that since the company already has a working ATM, rolling out other options in other locations shouldn’t be much of a hassle.