Just like in a traditional ATM, it is possible to deposit or withdraw money with a cryptocurrency distributor.
If users want Bitcoin for example, they can deposit money in the ATM and provide their Bitcoin address.
This system allows those who do not have a bank card or smartphone to own and sell cryptocurrency.
According to Statista, a German online portal specializing in statistics, there are now more than 26,000 cryptocurrency distributors in the world, compared to more than 3.2 million traditional ATMs.
The United States in the lead
The majority of these distributors are located in North America, with nearly 24,730 machines.
Next come Europe with Russia (1.315), Asia (240), South America (89), Oceania (37) and Africa (89).
In Belgium, a Bitcoin distributor has recently set up in Mons and the Coin ATM Radar site has 21 of them on Belgian territory.
In the United States, a first step was taken by the Walmart store chain, which has deployed nearly 200 cryptocurrency distributors in its stores.
“Coinstar, in partnership with Coinme, has launched a pilot project that allows its customers to use cash to buy Bitcoin,” said Molly Blakeman, director of communications at Walmart.
There are 200 Coinstar kiosks located in Walmart stores across the United States, which are part of this pilot project.
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While they are not yet close to replacing traditional ATMs, Statista indicates that the trend is on the rise and that initiatives like those in El Salvador, where Bitcoin has been elevated to the rank of official currency, are strengthening the place of cryptocurrencies and show the growing interest of nations in these payment methods.
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