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Number of Bitcoin ATMs in Canada Increases 28% in a Year

The number of bitcoin (BTC) automated teller machines (ATMs) in Canada has surged nearly 28% in a year and almost 190% in two years, according to media reports based on data provided by Coin ATM Radar.

The number of Bitcoin ATMs in Canada is 2,549. The Coin ATM Radar chart showed as of 1 November 2022, the number is 2,551 compared to 1,997 on 7 November last year. This marks a 27.74% annual growth.

Compared to most other regions, Canada had an average of 100 new Bitcoin ATMs added each quarter. Worldwide there are 38,750 Bitcoin ATMs with Canada second on the list of Bitcoin ATMs. The United States tops the list with 34,000 installations. Europe is in the third slot with a meager 1,466 bitcoin ATMs.

Canada is also credited with having the world’s first Bitcoin ATM set up in Vancouver’s Waves Café, some nine years ago.

The data highlights the huge growth rate of bitcoins ATMs in Canada. For example, in November 2020, the number of ATMs was just 888. Between 1 November 2020 and 1 November 2022, the number of bitcoin ATMs has grown 187.3%.

In October 2013, there were only two  ATMs and the number surged to 133 on 1 January 2017 and 622 by January 2019.

There was a pause in the number of installations for a while and it jumped again in mid-2020, showing a radical spurt.

In June 2022, crypto financial services provider CoinFlip announced international expansion with a debut in Canada and installations of ATMs in various cities of Canada such as Toronto, Ontario, and Vancouver, British Columbia.

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