Bitcoin ATMs – additional information
ATM (automated teller machine) is a device enabling the holders of debit or credit cards to withdraw cash from their banking accounts. The option of printing a part of the account information is also available to the ATM users. The withdrawal of cash from the ATM of the company where the payment card is registered is usually for free, while the owners of cards belonging to other banks have to pay a defined amount of money. There are also more complicated ATMs, incorporating advance options such as depositing funds or facilitating credit card payments.
As far as Bitcoin ATMs are concerned, there are two main types of such ATMs: the basic ones, allowing the users only to purchase Bitcoins, and more complex ones, enabling the users both to buy and sell the virtual money. In case of complex ATMs, only the members of a particular ATM producer can use the ATM. As of October 2017, the main manufacturers of the Bitcoin ATMs were Genesis Coin and General Bytes, with 45.94 percent and 23.94 percent of the market share, respectively.
The highest number of Bitcoin ATMs was recorded in the United States as of October 2017. In total, approximately 74 percent of global ATMs were concentrated in North America.