The number of bitcoin ATMs has continued to increase throughout 2020, indicating growing adoption amidst the ongoing coronavirus pandemic.
According to data compiled by Coin ATM Radar, the number of bitcoin ATM installations has increased by 85% in 2020 to 11,798, eclipsing last year’s record-setting 50% rise.
The number of new ATMs grew by nearly one thousand installations during the month of October alone, signaling a massive rise in adoption across the globe. The United States still accounts for the majority of installations with 9,700 ATMs, followed by Canada and the United Kingdom.
A report by Global Trade Magainze at the end of last month suggested that contactless payments have surged in popularity throughout the COVID-19 pandemic, with retailers reporting a 69 percent rise in digital payments since January.
The report reads:
Global contactless payment market is anticipated to garner revenue of $20,340.3 million by 2026. The fear of getting infected has pushed people to opt for contactless payment, for instance, almost 79% of the MasterCard users preferred contactless payments during the pandemic period. This is a sign that the contactless payment market has enhanced during the Covid-19 crisis.
The report continues, calling advancements in technology and increased online security a catalyst for the continued growth of digital and contactless payments.
Featured Image Credit: Photo via Pixabay.com
