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Bitcoin ATMs taking over the world!

AS well as an ever increasing number of BitCoin exchanges enabling people to buy cryptocurrencies, the year of 2019 has seen  the rise in BitCoin ATMs, we have now passed the milestone of 6,000

There are a number of way to check the amount of machines out there and if any are nearby to where you are, and this can be done on CoinATMRadar, who currently show over 6004 machines installed worldwide, with the lion’s share of over 65% in the USA.

The pace for 2019 has not slowed down with an average of 11 ATMs being installed daily, so far in November over 108 machines have been installed. The figures are showing that around 20% of machines are being installed in Europe, with the majority being installed in North America but only 2% in Asia.

The USA house the highest number of machines followed by Canada the UK and Austria.

Since June 2019 we have seen significant growth with over 1,000 machines installed worldwide. These ATMs allow users to buy BTC, but only around 35% of machines have a two-way to enable selling crypto for cash.

There are still concerns over the KYC and AML of these machines in certain locations. But all suppliers are doing their best to comply with this, however a normal transaction of currencies don’t require any form al KYC or AML. If you were to go to a bureau to change, you can change one currency for another, i.e. Euro to Pounds and not have to comply to any form of AML or KYC checks.

But as per normal in this ever changing world of crypto adoption, the banks and regulators are setting up rules that they don’t abide by, but want to make the crypto space do so. When you consider how much money is laundered in cash, it’s frightening to think that the regulators see crypto as a worldwide threat rather than their own, current banking sector.

The above is nothing more than facts taken from CoinATMRadar, and the closing paragraphs are nothing more than our opinion here at The London Crypto Exchange.