Crypto trust is costly and hidden

The world’s first cryptocurrency ATM opened for business in a Canadian coffee shop on October 29, 2013, and by the end of the day, 81 people had visited the novel machine to trade their cash for bitcoin or vice versa. This month, the number of crypto ATMs worldwide passed the 5,000 mark according to data from CoinATMRadar, which begs the question: Who the hell is actually using these things?

Crypto ATMs

Based on CoinATMRadar’s data, the most basic answer to that question is “Americans.” Roughly 80 nations now boast at least one crypto ATM, but with 3,177 machines, the U.S. is home to the vast majority. In fact, it has nearly three times as many crypto ATMs as the next three countries — Canada (680), Austria (263), and the United Kingdom (245) — combined.