Second only to Bitcoin, there are over 3,700 Litecoin ATMs worldwide.
After the hype surrounding the halving of mining rewards has subsided, it seems to have had no impact on the adoption of Litecoin. According to data from the cryptocurrency data platform CoinATMRadar, there are now over 3,700 Litecoin ATMs worldwide.
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Long-time Litecoin supporter Smaulgld pointed out on Twitter that the number of Litecoin-supporting ATMs has increased by 84 in the past 12 days, currently ranking second only to Bitcoin with 5,550 ATMs.
According to reports, the number of Litecoin-supporting ATMs is rapidly approaching the total number of ATMs supporting all altcoins, with a difference of only around 200.
As shown by CoinATMRadar, most of the Litecoin-supporting ATMs are concentrated in the United States among the 74 countries listed, with 3,505 ATMs in the U.S., followed by 690 in Canada and 266 in the U.K.
In addition, a report released by the International Monetary Fund Home Page last year defined Litecoin as a "virtual currency digital asset" with features of everyday payment and value storage, classified as a payment-type token.
Cryptocurrency ATM Steady Growth
A report from CoinATMRadar indicates that in August, the growth rate of ATMs remained stable and unrelated to the cryptocurrency market prices. At the beginning of August, there were 5,336 ATMs globally, growing to 5,469 by the end of the month, including 273 new machines and 140 closures, adding 133 machines, a 2.5% increase.
As previously reported by ABM, the world's first Bitcoin ATM dates back to November 2013 and was installed in Vancouver. The period from 2013 to 2014 was during the Bitcoin bubble, but Bitcoin ATMs and cryptocurrency ATMs covering a wider range of coins started to grow at an astonishing rate.
On July 1st this year, the milestone of 5,000 cryptocurrency ATMs was reached. However, despite this achievement, it is estimated that by 2020, the global number of traditional financial ATMs will reach 3.5 million units. Therefore, the 5,000 cryptocurrency ATMs are still just a drop in the ocean.
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