Bitcoin – additional information
Bitcoin is a type of digital currency which is created and processed electronically, without being controlled centrally by any institution. Decentralized character of Bitcoin is what makes it different from other conventional currencies. Although the number of Bitcoins in circulation has increased over time, the Bitcoin price has been subject to fluctuations. Apart from uncertainty regarding the future of Bitcoin, there are various reasons why people all over the world are skeptical about this virtual currency.
In January 2016, there were 502 Bitcoin ATMs worldwide. Their number increased to 3,461 in August 2018. The highest number of Bitcoin ATMs was recorded in the United States in 2018 (2,026). Canada, the United Kingdom and Austria followed with 535, 168 and 155 Bitcoin ATMs respectively. In total, over 71 percent of global ATMs were concentrated in North America.
There are two main types of Bitcoin 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 December 2018, Genesis Coin was the leading Bitcoin ATM manufacturer worldwide, with nearly 32 percent of the global market share.