Around the world, there are currently more than 4,000 Crypto ATMs, which have been established since 2013. However, today there are almost six new crypto ATMs are being installed every day. Latin America appears to be very enthusiastic about this new development. In recent years, the region has experienced rapid growth. The rise in interest in these devices among people can be explained by a number of factors.
For instance, the Venezuelan economic crisis compelled people to find alternative assets and acquire access to them in order to defend themselves from hyperinflation and the dictatorial regime. They are essentially using cryptos as insurance.
Another significant trend is the widespread use of innovative payment, financing, or equity distribution methods in developed cities, as well as the secure and efficient transmission of money to one’s home country.
Trends in crypto ATMs-
The Bitcoin ATMs (BATMs) are bringing hope to the new asset class while they appear all over the place in an effort to integrate these currencies to our daily lives and make them more fungible and tangible assets in real life. They follow the crypto tale of volatility, surprise, dramatism, and abrupt shifts.
Decentralization of the currency is already assisting Venezuelan immigrants in receiving payments in Bitcoin and converting them to fiat money in Colombia. Other people will undoubtedly discover a way to use these currencies to their advantage in practical circumstances. Utilizing current technologies like smartphones, ATMs, and e-wallets, the trend is expanding at an unforeseen rapid rate. This growth rate is undoubtedly greater than what regulators can now handle.
Recent Developments-
In January 2022, The Santo Blockchain Labs announced to provide the backend software basis for the cryptocurrency ATMs through code name AMAZONIA, which will be marketed via a franchise model in countries throughout Latin America and the Caribbean islands. The corporate strategy is to offer a white label solution for the cryptocurrency ATM franchises. Further, Santo Blockchain announced that Panama will be the first country to benefit from a newly purchased Bitcoin ATMs under their plan of installing 50 crypto ATMs by 2022. While the next on radar are Colombia and Costa Rica.
Following tables show Latin American countries with crypto ATMs at different location or cities.
Colombia–
Colombia has the most number crypto ATMs installed in their country with around 15 installed only in capital of the country, Bogota.
| City | Number of Crypto ATMs |
| Bogota | 15 |
| Medellin | 5 |
| Cali | 4 |
| Barranquilla | 1 |
| La Hormiga | 1 |
| Pereira | 1 |
Mexico–
Mexico has around 11 crypto ATMs.
| City | Number of Crypto ATMs |
| Mexico City | 4 |
| Tijuana | 2 |
| Guadalajara | 1 |
| Culiacan | 1 |
| Monterrey | 1 |
| Queretaro | 1 |
| Silao | 1 |
Diminican Republic-
Dominican Republic has total of 9 crypto ATMs locations.
| City | Number of Crypto ATMs |
| Santo Domingo | 6 |
| Santiago de los Caballeros | 3 |
Argentina–
Argentina has around 8 crypto ATMs with all located in the capital city of Buenos Aires.
Ecuador–
Ecuador has total of 3 crypto ATMs.
| City | Number of Crypto ATMs |
| Quito | 2 |
| Tena | 1 |