In recent years, the rise of cryptocurrencies has transformed the way we understand money and financial transactions. Bitcoin, the pioneer and most well-known of these digital currencies, has gone from being a niche concept to a financial tool adopted by millions of people around the world. A tangible proof of this expansion is the exponential growth of Bitcoin ATMs (BTMs), which allow users to convert their cryptocurrencies into cash or vice versa quickly and easily.
What are Bitcoin ATMs and how do they work?
Bitcoin ATMs are machines similar to traditional ATMs, but designed specifically to handle cryptocurrencies. Unlike conventional bank ATMs, they are not connected to a bank account, but instead interact directly with a cryptocurrency wallet via a QR code or public address.
The process for withdrawing cash is quite intuitive:
- Find an ATM near you: Platforms like Coin ATM Radar allow you to find Bitcoin ATMs in your area. You just need to enter your location to see an updated map.
- Scan your wallet: On the ATM screen, you scan the QR code of your digital wallet from your phone or enter the address manually.
- Select the transaction: You choose the option to sell Bitcoin (or the cryptocurrency supported by the ATM) and specify the amount you want to convert to cash.
- Confirm the transaction: The ATM displays the current exchange rate (which includes a fee, usually between 5% and 10%) and asks you for confirmation.
- receive the money: Once you send the funds from your wallet to the ATM, the machine dispenses the cash in the local currency.
Some ATMs also offer the reverse option: depositing cash for buy Bitcoin, making them a two-way tool for those trading crypto.
An expanding phenomenon
The proliferation of these ATMs is a reflection of the growing interest in cryptocurrencies. According to data from Coin ATM Radar, by early 2025, there are more than 40.000 Bitcoin ATMs installed worldwide, with a significant presence in the United States, Canada, and Europe. In 2024 alone, thousands of new machines were installed, driven by companies like Bitcoin Depot, Coinhub, and Bitstop, looking to capitalize on the demand for crypto accessibility.
In Latin America and other emerging regions, these ATMs are gaining ground as an alternative for people without access to traditional banking systems, allowing them to participate in the digital economy. Countries such as Argentina, Brazil and Mexico have seen a notable increase in the installation of BTMs, partly due to inflation and distrust in local currencies.
