Innovation

Bitcoin ATMs celebrate 9th birthday

Image via Istock.com

November 1, 2022

The Bitcoin ATM is officially 9 years old. On Oct 29. 2013, a coffee shop in Vancouver, Canada installed the first Bitcoin ATM from Robocoin. Now there are 38,804 machines in operation, according to a CoinTelegraph report.

The U.S. continues to hold the lion's share of Bitcoin ATMs, with 88% of all Bitcoin ATMs and accounts for 90% of new ATMs in the past few months.

Canada holds second place with 566 ATMs and Spain is sitting at third place with 215 ATMs.

The Bitcoin ATM market is worth at $46.4 million but will likely see an explosion in growth and hit as high as $472 million by 2027, according to a press release from Research and Markets.