Despite the fall in the prices of cryptocurrencies number of bitcoin ATMs continues to grow

Despite the fall in the prices of cryptocurrencies number of bitcoin ATMs continues to grow

The fall in the value of cryptocurrency is not the obstacle: in recent months, sharply increased the number of bitcoin ATMs.

ATMs for cryptocurrency sets even more than traditional ATMs of the banks. Average daily installed 5 new units.

The situation with bitcoin at the moment is quite tense. From the beginning, the king of cryptocurrency has lost more than half of the cost. If at the beginning of January the bitcoin was given 17 400$, the current price is less than $ 7,000. If the fear, uncertainty and doubt from the media and General negative Outlook persists, the situation could get worse. Dark times for cryptocurrency embraced the market as a whole, and all altcoins blindly follow the path of bitcoin.

New to the world of digital currencies probably already left the sinking ship and in a panic sold off all the assets. This led to a phase of the endless decline in all service areas. Just over a month, the total capacity of the market decreased by 53% as much as 440 billion dollars.

Not so bad

However, this is not the end of the world. Take a look at the stats for three months: the total capacity of the market in early November of 2017 amounted to $ 200 billion. This is 48% lower than today. From the fall of the price of the cryptocurrency got a profit of one group: manufacturers of bitcoin ATMs. According to the portal in recent months, sharply increased the number of units of these machines for bitcoin and other cryptocurrencies. Despite the fall in the cryptocurrency market, the need for bitcoin ATMs is maintained.

At the time of this writing in the world set 2177 bitcoin ATM. About 43% of them also support altcoins. On an average day is set for 5 bitcoin ATMs. In just one period of market correction set 136 pieces. In 2017, the number of bitcoin ATMs has doubled from 954 to 2028 (in the period from 1 January 2017 to 1 January 2018).

America is ahead of all

A leader in the installation of machinery is the USA— the country has already 1296 ATMs. In second place is Canada with a rate of 340, and bronze at the UK with 108 units. Although the leadership of Japan and Asia, on the continent there are only 47 ATM — 2.16% of the total. Additional usability of these machines is definitely tempting, but not so simple. The average Commission for buying cryptocurrency is 10,17%, but the sale will have to pay of 7.13%. That is, it is not the most profitable way to use bitcoin. Have altcoins Litecoin or Ethereum, the Commission is much lower and the potential is greater compared to bitcoin.

Because of tougher laws, many providers bitcoin ATM machine equipped with functions of identification. Operators can disable these functions, but are often forced to use them, following the laws. Anonymous operations can be carried out in several countries, but usually have to specify the phone number.

Infrastructure development and interest in cryptocurrencies are a truer indicator of the market than the FUD in the media and talk about the bubble. Market correction is a natural and healthy process. Weekly growth in two-digit numbers is not an indicator of long-term trends.

Let's Disqus