The rise of the price of Bitcoin provoked the explosive growth of the installation of cryptobankatom

In May 2019, 306 new ATMs for Bitcoins (BTC) were installed worldwide, increasing the total number of devices to 4898 units. This was the highest rate in a year, Bitcoinist reports, citing data from the CoinATMradar platform.

Prior to this, the largest increase was recorded in April 2018, when 256 such machines were installed.

According to experts, the massive installation of such devices in May coincided with the best month on the cryptocurrency market this year. In May, the value of Bitcoin increased by more than $ 3.5 thousand (or almost 60%). And from the beginning of the year to May, the BTC indicators increased by 120%. Since then, the leading cryptocurrency has fallen by about 10% after reaching a maximum of 2019 at $ 9.1 thousand.

At the same time, as stated in the study, the number of bitcoin automata, which other cryptocurrencies support, is also growing. For example, according to the platform, 69.6% of all such machines today have the support of other tokens besides the cue ball.

Also, CoinATMradar notes that the most popular supported cryptocurrency after Bitcoin with Litecoin and Bitcoin Cash is the broadcast (ETH). In May of this year, ETH support was added to more than 150 cars.

In June, the total number of crypto banking machines reached 4935 units in 77 countries of the world. The leader both in the number of machines and in the speed of their installations remains the United States. In the second and third places on the dynamics of installations per month were the United Kingdom and Hungary. And Bahrain received its first Bitcoin-ATM.

The study also states that due to the rapid proliferation of such devices, there are problems with the regulation of their work. Especially – in Canada. The country ranks second in the world after the United States in the number of specialized machines placed. Now the city authorities in Vancouver are trying to ban them, because law enforcement officers claim that they use cryptobankomats for money laundering.