Since the cryptocurrency markets in 2018 have been so brutal, many in the cryptocurrency community have been looking to other signs to indicate that there will eventually be mass adoption. For example, some have pointed to the fact that there is more interest than ever in blockchain-related jobs, the interest in blockchain education, and other signs.
One other great indication that more people are finding out and using cryptocurrency is the presence of Bitcoin ATMs. Although this year has been very tough for many long-term cryptocurrency investors, one thing is for sure: it has been great for Bitcoin ATMs.
There is zero doubt that when it comes to actual ATMs and Bitcoin ATMs – there is no comparison. The truth is that everyday purchases are often not made with cryptocurrency, and so the demand is significantly less.
However, the fact that Bitcoin ATMs are increasing year-by-year is a great sign. Specifically, Jameson Lopp, a software developer and CTO of CasaHODL, pointed out that Bitcoin ATMs actually doubled over last year. He stated: “The number of Bitcoin ATMs doubled to 4,000 in 2018, continuing a 3 year trend of 100% year over year growth.”
It’s important to point out that this shouldn’t be too surprising, considering that there are other indicators that more people are learning about cryptocurrency. One bullish sign is the fact that the Bitcoin subreddit recently hit 1 million subscribers, as well, growing significantly from the year before.
Buenos Aires, Argentina
More countries are implementing Bitcoin ATMs, especially in countries that are open to the potential of blockchain technology. Most recently, 7 Bitcoin ATMs were installed in Argentina, which is good timing, considering that the country is experiencing a financial crisis currently. Of course, time will tell whether the growth involving Bitcoin ATMs will continue at this rate, globally.