Number of Bitcoin ATMs Up 85% This Year as Coronavirus Drives Adoption

Published Nov 11, 2020 | Coindesk

The number of bitcoin automated teller machines (ATMs) across the globe has surged this year amid the coronavirus-induced shift toward contactless payments.

Bitcoin (BTC, +3.63%) ATM installations have increased by 85% to 11,798, outpacing the previous year’s near 50% rise by a significant margin, according to data source Coin ATM Radar.

The spike demonstrates the rising popularity of bitcoin as a payment mode. The fear of getting a coronavirus infection has accelerated the growth in the broader contactless payment market this year, according to Global Trade Magazine.

The U.S. added over 800 ATMs in October alone and is leading cryptocurrency adoption, followed by Canada and Germany, as noted by Coin ATM Radar.

With several public companies investing in bitcoin and online payments giant PayPal adding support to the cryptocurrency, mainstream adoption could continue to grow.