Just a couple of days back, we reported how crypto ATMs were on the rise despite the ongoing bearish trend in the crypto market. Now, we have more heartening news to back up that observation as Data Light’s research conclusions show that in 2018, the average number of crypto ATM instalments per day was as high as six.
The entire year has been beset with crippling disappointments in terms of falling prices of even the topmost crypto coins. Even the holiday season has failed to imbue the market with the much-needed festive spirit. However, thankfully, adoption, as it seems, is not as much of a sad story as crypto prices have recently been.
The number of cryptocurrency ATMs, according to the statistics by Data Light, have crossed 4000 this year, more than doubling from its 2017 number. While crypto prices have kept the temperature scales company as they both dipped this December, the crypto adoption rates are proving to be quite heartwarming. Data Light is a crypto analytics firm that has conducted a systematic study of the number of crypto ATMs to be found all over the world at the end of 2018.
Perhaps the most exciting part from the entire report is the fact that on an average, around 6 Crypto ATMs (automatic teller machines) have been set up in each and every day of 2018 till now. To drive adoption, it is incredibly important to make crypto coins of different kinds easily accessible and available to the general public. This is what would get them interested to use crypto in their daily lives, eventually perhaps even using crypto to do their groceries.
Another encouraging trend from the findings that is to be noted is that these crypto ATMs are not all just Bitcoin ATMs. Besides offering Bitcoin, 2421 of them also offer Litecoin exchange, and a comparable number offer Ethereum. Even privacy coins like Dash, Monero and ZCash have managed high or at least substantial numbers in this regard, being available at 729, 128 and 67 ATMs respectively. However, an interesting point one should not forget is that a majority of these ATMs were installed towards the earlier part of this year, when the crypto prices had not quite touched the disastrous levels they are at. We can only hope ATMs, by driving adoption, can also rescue the plummeting prices.