This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The Bitcoin ATM market has experienced significant growth in the past two years, with more than nine new ATMs being installed every day. These ATMs, also known as Crypto ATMs, allow users to buy and sell Bitcoins, and many of them also support other cryptocurrencies. Currently, there are around 6,700 Crypto ATMs operating worldwide, with over 70% of new installations occurring in 2018-2019. The United States alone accounts for a large portion of these ATMs, with 1,734 new kiosks added in 2019. In terms of market share, there are more than 54 Crypto ATM manufacturers and 34 operators. Genesis Coin and General Bytes dominate the market, holding two-thirds of the market share. Interestingly, only one-third of Crypto ATMs support both buying and selling operations, indicating that more people are interested in acquiring Bitcoins rather than spending them. When it comes to supported currencies, almost all Crypto ATMs support Bitcoin, and around 70% of them also support one or more altcoins. Ethereum and Litecoin have good support among these ATMs, while Bitcoin Cash is supported in over 2,200 Crypto ATMs. However, privacy coins like Monero and Zcash still have a long way to go in terms of support. Geographically, the majority of Crypto ATMs are located in the United States, accounting for two-thirds of the total. Europe has 18.6% of the ATMs, followed by Canada with 10.3%. Asia has a relatively small number of Crypto ATMs, with only 134, and 54 of them are in Hong Kong. In terms of operators, the top 10 crypto ATM operators run 42.4% of the total ATMs, while there are 539 other operators running 57.6% of the ATMs. Overall, the growth of Crypto ATMs indicates that the Crypto market is still in its early stages, with plenty of opportunities for expansion. However, there are some caveats to using these ATMs, and currently, people are primarily interested in buying cryptocurrencies rather than spending them. It will be interesting to see how the growth of Stable coins will impact the Bitcoin ATM market.