Interest in cryptocurrency continues to grow and, quite understandably, there is also a demand for ATMs where you can cash it out. Last year, the number of crypto ATMs around the world doubled. Experts explain this by the fact that there are a large number of people who have cryptocurrency savings, and at the same time, do not want to carry out transactions on cryptocurrency exchanges.
Recall that ATMs first appeared in North America and Asia in 2013.
Currently, the United States still holds the leading position in the number of installed cryptocurrency ATMs (about 60% of all ATMs in the world). The seven leaders include Canada (15%), Austria (4%), Spain (2%), Switzerland and Australia (1% each).
If you look at these statistics from a different angle, and consider the number of crypto ATMs per capita, the leaders change places.
In first place is Austria. There are more than 10 terminals per 1 million people. While in the USA there are only four. Next comes Canada (8), Slovenia (5), Finland (3), Switzerland (more than 2), Slovakia (2).
If we talk about the countries of the post-Soviet space, terminals have begun to appear in this region. Thus, in Russia, despite the lack of a regulatory framework and regulation of cryptocurrencies, more than 10 crypto ATMs are already operating.
In Ukraine, applications have been received for the installation of more than 150 crypto ATMs. Six have already been installed in the Ukrainian capital, and testing began in September.
As for crypto ATM manufacturers, there are about 24 of them around the world. The lion's share of production falls on the GenesisCoin company, 28% - by the General Bytes company, 14% - by the Lamassu company.
Companies that install crypto ATMs note that their activities are greatly hampered by the lack of a legislative framework in this area. The concept of “cryptocurrency ATM” does not exist in tax legislation. As many entrepreneurs note, they are ready to pay taxes, but when submitting the relevant documents to permitting and fiscal services, they face a lot of problems.
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