DEMAND FOR CRYPTOCURRENCIES SEES GROWTH IN BITCOIN ATMS

THERE has been a recent surge in the number of Bitcoin ATMs worldwide. Financial blog site AksjeBloggen.com reports that the number of machines hit 9 680 at the beginning of September, a 167% jump year on year. Bitcoin ATMs provide users with quick access to cryptocurrencies such as Bitcoin. They are mostly found in developed countries, but they have also become popular in developing countries with volatile financial markets. The US is the leading crypto ATM market, with 7 567 (78%) machines. Canada has 869 machines, followed by the UK, Austria, Spain, and Switzerland, with 278, 150, 106, and 81, respectively. According to Coin ATM Radar, there are nine Bitcoin ATMs in South Africa: four in Cape Town, two each in Joburg and Pretoria, and one in Durban.

PO Box 56, Cape Town, 8000. Email: perfin@inl.co.za Content editor: Martin Hesse

Email: martin.hesse@inl.co.za

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