Bitcoin ATMs are reportedly set to increase in Greece over the next few months as demand for digital currency rises in the country.
More Bitcoin ATMs Are Coming to Greece
According to CoinATMRadar, there are 10 Bitcoin ATMs currently in Greece. Four are located in Athens, two in Mykonos, and one each in Kalamata, Larissa, Heraklion, and Thessaloniki.
However, it seems that the growth in the total number is set to rise. A report by the Greek Reporter suggests that three more crypto ATMs are to be installed in northern Greece. That’s according to Stefanos Getsopoulos, co-founder of Thess Cash Hellas, a company that focuses on cryptocurrencies.
The increase in the number of ATMs is not unexpected. Since the end of last year, there has been rising interest in the crypto market. This is evident by the fact that Bitcoin’s value rose to within touching distance of $20,000 mid-December.
Yet, even though market values across the board have fallen, people are still keen to use and invest in them. This is one reason why countries are installing more Bitcoin ATMs in their cities.
America currently has the largest number of Bitcoin ATMs, numbering 2,220 across the country. This is followed by Canada with 641, Austria with 200, and the U.K. with 179. Of course, while Greece’s numbers pale in comparison, the European nation is continuing to work at giving the people what they want.
Growth of Crypto ATM Market on the Rise
Recent research suggests that the crypto ATM market is set to grow from $16.3 million in 2018 to $144.5 million in 2023. This will see a compound annual growth rate (CAGR) of 54.7 percent in that time.
The figures from Research and Markets indicates that North America will hold the biggest share of the industry by 2023. The U.S. is expected to also continue dominating the crypto ATM market during the forecasted period. This is due to the presence of crypto ATM hardware and software providers, in addition to a favorable environment.
Around the world, other nations are also expanding with the launch of their own Bitcoin ATMs. In May, it was reported that South Africa received its first crypto ATM, highlighting the growing interest within the country. A month later, Kenya also installed its first Bitcoin ATM.
Despite worries about market prices, it seems this isn’t doing much to stem the growth of crypto ATMs.
Have you used a Bitcoin ATM? Let us know in the comments below.
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