Bitcoin ATMs are growing increasingly popular around the world, with the number expected to increase by 6% by 2024. This rise demonstrates how bitcoin remains a part of everyday life. These devices are intended to make it easier to purchase and sell cryptocurrencies, just like traditional ATMs are for cash withdrawals.
So, what exactly are Bitcoin ATMs? They operate similarly to standard ATMs, but are specifically designed for cryptocurrency transactions. Users can purchase Bitcoin and other digital currencies with cash or a bank card. Some services also allow users to sell their cryptocurrencies for cash, however the transaction costs are typically higher than when buying them.

The first Bitcoin ATM opened in Vancouver, Canada, in 2013. It was a pivotal milestone in making cryptocurrency more accessible to the general public. Since then, Bitcoin ATMs have increased significantly, with over 37,500 machines in more than 70 countries. Finbold’s most recent report, which includes data from Coin ATM Radar, found that 2024 was a notable year for Bitcoin ATMs, with a 6% gain.