Poland and Romania rank in the top 10 for the number of Bitcoin ATMs, the global total topping 23,000 – Bitcoin News
Two Eastern European nations, Poland and Romania, are now among the top 10 countries that host the most cryptocurrency ATMs. The global number of ATMs that support crypto transactions has grown exponentially in recent months and now reaches over 23,000 devices.
Poland is one of the leading destinations for crypto ATMs
The increase in popularity and market prices of cryptocurrencies over the past year has resulted in an increase in the number of locations around the world offering automated checkout services to crypto holders. Most bitcoin ATMs allow you to buy coins using cash and cards, while some devices allow two-way transactions so users can sell cryptos as well. Major currencies like Bitcoin (BTC), Ethereum (ETH) and Bitcoin Cash (BCH) are usually supported.
The Warsaw Business Journal cited data compiled by Crypto Head and recently wrote that Poland was included in the top 10 nations with the highest number of cryptocurrency ATMs. According to this ranking, the country is in seventh place with 112 crypto POS devices, behind Hong Kong and ahead of Switzerland.
The United States tops the table. The United States has a rapidly growing network of Bitcoin ATMs (BATMs) that includes more than 17,000 ATMs that support cryptocurrency deposits and withdrawals across the country. Northern neighbor Canada ranks second with nearly 1,500 ATMs, followed by the UK with around 200, the report said.
Over 23,000 cryptocurrency ATMs worldwide
According to Coin ATM Radar, the number of locations with cryptocurrency ATMs and counters worldwide hit 23,386 as of July. Its data covers 74 countries and more than 600 operators. The tracking website has its own ranking, according to which Poland ranks eighth with 83 locations.
Poland is followed by another Eastern European country, Romania, which already has 78 ATMs and ATMs that exchange fiat and crypto. The USA, Canada and Great Britain are again the three leading BATM destinations with 20,603, 1,618 and 194 locations respectively.
The Warsaw Business Journal notes that the growing network of crypto ATMs has raised concerns among authorities about whether they could be used for illegal purposes. The report provides examples such as moving large sums of money across the U.S.-Mexico border during the coronavirus pandemic and a discussion in Vancouver about a possible ban on coin operated machines that are supposedly used for money laundering.
According to the Polish Financial Supervisory Authority (KNF), no provisions of Polish legislation currently prohibit or restrict Bitcoin ATMs in any way. However, the companies that install and operate devices that buy and sell cryptocurrencies are subject to anti-money laundering (AML) regulations, according to the Polish publication.
What do you think of the growing number of cryptocurrency ATMs around the world? Let us know in the comments section below.
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