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Crypto ATMs on the Rise Despite Ongoing Crisis: Figures Paint a Promising Picture

  • Alexander Goborov
    📊‍ Infographics

    While the market is still going through major turmoil, the number of ATMs that support Bitcoin, Litecoin, and Ethereum has doubled in 2018

Crypto ATMs on the Rise Despite Ongoing Crisis: Figures Paint a Promising Picture
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With 2018 coming to a close and famous Jingle Bells already ringing in the distance, it’s time to look at this year’s latest crypto stats. While many vitals are still being kept down by the stubborn bears of the economy, it turns out that the number of crypto ATMs has doubled this year compared to 2017.

Number of ATMs

Number of ATMs

With only 3 crypto ATMs in 2013, their number grew almost a hundredfold in 2014, taking the total to around 300, increased by a further 150% in 2015, taking the total to over 450, then doubled in 2016, taking it to over 900, increased by a further 215% last year, taking the total figure to almost 1950, and finally more than doubled again this year, giving us today’s impressive total of 4051 crypto ATMs worldwide.

Type of ATMs

With these ATMs, the situation is as follows:

crypto ATMs

Of the 4051 crypto ATMs in total, all but five of them support Bitcoin (4046); around 60% support Litecoin (2421); almost half of them support Ethereum (1993); close to 35% support Bitcoin Cash (1356), i.e. before the fork and subsequently BCH ABC and/or SV thereafter; almost 20% support Dash (729); 3% support Monero (120); 2% support Dogecoin (79); and just under 2% support Zcash (67).

Conclusion

Bear in mind that crypto ATMs are not just ATMs in the traditional sense of the word. Crucially, they allow users not only to receive money like any other machine of the kind, but also—by its very nature—conduct fiat-to-crypto as well as crypto-to-fiat exchanges on the spot. In other words, one can momentarily trade cryptocurrencies through these ATMs by either putting local fiat in (i.e. ‘deposit cash and buy crypto’) or taking local fiat out (i.e. ‘sell crypto and withdraw cash’).

The former option is arguably more common in many third-world countries among those wishing to escape hyperinflation, while the latter is arguably more popular in first and second world countries among those looking to spend some of their savings.

Granted, not all of these ATMs are spread widely as very many are concentrated in the crypto hubs of the world, among them places like San Francisco, Amsterdam, and Buenos Aires. Be that as it may, the overall positive trend is there, and where it takes us exactly we shall see soon enough, in 2019.

👉MUST READ Where Is It All Happening? The Biggest Crypto Cities of the World

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Number of Active Bitcoin Addresses Continues to Grow While BTC Price Remains in Limbo

  • Alex Morris
    📊‍ Infographics

    💪💥There is a divergence between new addresses and the BTC price, but it doesn’t mean that another bull run is coming anytime soon

Number of Active Bitcoin Addresses Continues to Grow While BTC Price Remains in Limbo
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There has been a common belief that the number of active Bitcoin addresses and the asset’s price are somehow correlated. However, it turned out not to be the case after the latter continued to stagnate despite the Bitcoin user base growing significantly over the last eight weeks.

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Little impact on price

While the number of Bitcoin addresses increased by 17 percent since Jan. 20 till March 17, the Bitcoin price only experienced minuscule growth of 1 percent over the same period of time. The fact that there is a divergence between the number of addresses and the Bitcoin price doesn’t necessarily mean that another bull run is in the offing. In fact, there was steady growth in active addresses during the prolonging bear market (since 2014 till 2016), and it didn’t impact the price.

👉MUST READ Here’s How Much Bitcoin North Korea Amassed After Hacking Asian Cryptocurrency Exchanges

The TAAR metric  

Transaction volume is a more reliable metric when it comes to determining the tops and bottoms of the Bitcoin market. However, in order to get the most precise correlation, one has to factor both average trading volumes and the number of active users (the TAAR metric). The TAAR tends to be a fairly accurate indicator of an upcoming bullish/bearish trend. 

The TAAR metric  

 

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