A brief history of Bitcoin ATMs and the current state of Bitcoin ATMs

A brief history of Bitcoin ATMs. The first cryptocurrency ATM was launched on October 29, 2013. It was a Robocoin machine located in the Waves Café in Vancouver, Canada. Although it only operated until 2015 due to operational errors, it is widely recognized as the pioneer of Bitcoin ATMs in the world.

Since then, Bitcoin ATMs have faced many regulatory challenges. All parties have reached a consensus that Bitcoin ATMs must also comply with the same laws and regulations as traditional ATMs. These include limiting the number of deposits and withdrawals that can be made per person per day per transaction.

Current status of Bitcoin ATMs. It is estimated that there are more than 30,000 Bitcoin ATMs worldwide, the vast majority of which are located in the United States. North America has the largest Bitcoin ATM market share in the world, close to 90%. Most BTMs are located in cafes or specialty stores, as well as transportation hubs such as train stations and airports.

Risks and limitations of Bitcoin ATMs. Although Bitcoin ATMs are designed to provide convenience and accessibility, they also have certain risks and limitations. For example, due to current regulations, many Bitcoin ATMs no longer provide the anonymity they once did. Users are required to verify their identity before making transactions, especially for large amounts.

In addition, Bitcoin ATM transaction fees can be higher than other transaction methods. Fees vary depending on the specific machine and its operator.