Bitcoin ATM Locations in Canada Jump 28% From Last Year

The number of bitcoin ATM installations in Canada has increased by 28% year-on-year. There are 2,549 bitcoin ATMs in the country, second only to the United States.

Canada continues to increase its bitcoin ATM installation rate. Data from Coin ATM Radar currently shows an increase of 28% year-on-year. The number of bitcoin ATMs in Canada is 2,549, up from less than 2,000 last year this time.

Canada has added about 400 bitcoin ATMs since the beginning of the year. In January 2022, there were 2,174 ATMs, which is a quick progress and notably this year has been a slowdown. There has also been good progress in recent quarters.

There were 2,479 ATMs in the second quarter of 2022, while there were 2,545 ATMs in the third quarter. The country sees about 100 new bitcoin ATMs every quarter, which is a significant increase compared to other regions.

When it comes to bitcoin ATM numbers, the United States is the runaway leader, with around 34,000 installed in the country. Europe has 1,466, and this figure has remained stable for some time, reaching an all-time high despite Mica regulations. There are 38,750 bitcoin ATMs around the world.

The number of bitcoin ATMs is very small in most other countries. This could be for a number of reasons, including regulations and the associated high fees.

Bitcoin ATMs Celebrate Nine Years of History

Canada is actually home to what is believed to be the world’s first bitcoin ATM. Just nine years ago, on October 29, 2013, a bitcoin ATM was opened by a coffee shop in downtown Vancouver.

Since then, bitcoin ATMs have been doing quite well, especially in the North American continent. The United States has since become home to the most crypto ATMs, but Canada remains firmly in second place.

There are still some for bitcoin ATMs, even despite the impact of the bear trail. However, scammers have started targeting these devices as well, with US officials issuing warnings about them.

Canada is starting to test the cryptocurrency market

Canada has also begun reviewing regulations for stablecoins and the general crypto market. The federal government is planning consultations on crypto markets, stablecoins and central bank digital currencies (CBDCs). It recognized that it needed to keep up with innovations, and for this, began consultations on 3 November.

Canada has been ramping up surveillance of the crypto market recently, taking a number of punitive actions. The Securities Commission issued a warning on unregistered crypto companies, while some Canadian firms are facing lawsuits for failing to disclose crypto trading fees.


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