Bitcoin ATMs recorded an impressive
6% growth rate in 2024, a result of the latest resurgence in crypto interest. This expansion continued in the US, maintaining its dominant position in the market. Not to be outdone,
Australia established a remarkable growth streak, with 29 consecutive months of Bitcoin ATM growth. In addition,
Canada and
Colombia have seen considerable growth in Bitcoin ATMs across their respective cities. However, it is not all good news. Scams targeting Bitcoin ATMs have escalated noticeably, leading to hefty losses for unsuspecting victims. Federal Trade Commission (FTC) data points to
Bitcoin ATM scams costing people $65M in the first half of 2024 alone. These scams have become particularly prevalent in the US, affecting tens of Connecticut residents annually. Arguably, older individuals have been hit hardest by these scams, which reportedly defrauded seniors out of $110M. Protection measures have taken on a new urgency, with public officials amplifying their warnings about Bitcoin ATM scams. Some, like Delaware's Department of Justice, have gone steps further to offer protective tips to the public. Amid the controversial environment, Bitcoin ATM providers continue to innovate to improve service delivery and user experience.
CoinFlip, for instance, has launched its wallet app in Australia and New Zealand. Elsewhere, NCR Atleos is facilitating Bitcoin cashouts at ATMs across the US. Despite the unfolding complexities, Bitcoin ATMs remain a critical feature of global cryptocurrency adoption. However, responsible authorities continue to push for tighter regulations to ensure the safety and security of Bitcoin ATM users.
ATM Coin News Analytics from Fri, 01 Mar 2024 08:00:00 GMT to Mon, 13 Jan 2025 12:22:11 GMT -
Rating 4
- Innovation 7
- Information 8
- Rumor -3
