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Bitcoin ATM
A Bitcoin ATM (automated teller machine) is a kiosk that allows a person to purchase Bitcoin and other cryptocurrencies by using cash or debit card. Some Bitcoin ATMs offer bidirectional functionality, enabling both the purchase of Bitcoin and the sale of Bitcoin for cash. In some cases, Bitcoin ATM providers require users to have an existing account to transact on the machine.
On October 29, 2013, a Robocoin machine opened in the Waves coffee shop in downtown Vancouver, Canada. On December 8, 2013, Europe's first Bitcoin ATM was installed in Bratislava, Slovakia. The first machine in the United States went online on February 18, 2014, in a cigar bar in Albuquerque, New Mexico, though it was removed 30 days later. Months later, in May 2014, the first licensed bitcoin ATM in the U.S. was developed by Coinme and installed at the Spitfire Grill in Seattle, WA.
In 2014, Canada was the first country to approve regulation of cryptocurrencies, although it took some time to enforce. In February 2014, the Finance Minister mentioned plans to introduce anti-money laundering and anti-terrorist financing regulations for virtual currencies such as Bitcoin. In June of that year, the Governor General approved an amendment to Bill C-31 that would treat cryptocurrency businesses as Money Services Businesses (MSBs), and the Department of Finance circulated a draft of the proposed regulations in June 2018. As of July 2020, businesses dealing in virtual currencies are considered MSBs by the Financial Transactions and Reports Analysis Centre of Canada.
In 2018, the Canada Revenue Agency (CRA) commissioned an investigation on Bitcoin ATMs to find out if tax laws were being followed by users. From December 2017 to February 2018, the number of Bitcoin ATMs in Canada increased by 20%. In June 2019, Vancouver was considering a ban on the machines due to money-laundering concerns.
As of 2022, there were 1,459 Bitcoin ATMs in Europe with 17 in the United Kingdom. In March, 2022, Crypto ATMs were banned from operating in the UK.
As of November 2025, there were approximately 28,000 ATMs accepting cryptocurrency in the United States. Of those, more than 16,00 are operated by three companies: Bitcoin Depot, CoinFlip and Athena Bitcoin.
Most US cryptocurrency ATMs charge transaction fees between 6.5% and 20%. Several bitcoin ATM companies, including the two largest bitcoin ATM companies Bitcoin Depot and Coin Cloud, charge this fee as a percentage of an exchange rate that is significantly less favorable to customers than the market rate. This functionally adds an additional 20% fee for using bitcoin ATMs. According to comments made by Bitcoin Depot to its investors, the company specifically targets middle and lower income areas for placement of bitcoin ATMs. The company also attempts to minimize its own exposure to cryptocurrency as a volatile asset.
In February 2023, Cash Cloud, the company which operates the Coin Cloud ATMs, filed for bankruptcy. This was due to the company's exposure to Genesis Capital and the cryptocurrency crash which started in 2021. In March 2023, three people were arrested for operating 51 bitcoin ATMS in Northeast Ohio. The trio were charged with multiple violations, including money laundering, licensing violations, and receiving stolen property.
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Bitcoin ATM
A Bitcoin ATM (automated teller machine) is a kiosk that allows a person to purchase Bitcoin and other cryptocurrencies by using cash or debit card. Some Bitcoin ATMs offer bidirectional functionality, enabling both the purchase of Bitcoin and the sale of Bitcoin for cash. In some cases, Bitcoin ATM providers require users to have an existing account to transact on the machine.
On October 29, 2013, a Robocoin machine opened in the Waves coffee shop in downtown Vancouver, Canada. On December 8, 2013, Europe's first Bitcoin ATM was installed in Bratislava, Slovakia. The first machine in the United States went online on February 18, 2014, in a cigar bar in Albuquerque, New Mexico, though it was removed 30 days later. Months later, in May 2014, the first licensed bitcoin ATM in the U.S. was developed by Coinme and installed at the Spitfire Grill in Seattle, WA.
In 2014, Canada was the first country to approve regulation of cryptocurrencies, although it took some time to enforce. In February 2014, the Finance Minister mentioned plans to introduce anti-money laundering and anti-terrorist financing regulations for virtual currencies such as Bitcoin. In June of that year, the Governor General approved an amendment to Bill C-31 that would treat cryptocurrency businesses as Money Services Businesses (MSBs), and the Department of Finance circulated a draft of the proposed regulations in June 2018. As of July 2020, businesses dealing in virtual currencies are considered MSBs by the Financial Transactions and Reports Analysis Centre of Canada.
In 2018, the Canada Revenue Agency (CRA) commissioned an investigation on Bitcoin ATMs to find out if tax laws were being followed by users. From December 2017 to February 2018, the number of Bitcoin ATMs in Canada increased by 20%. In June 2019, Vancouver was considering a ban on the machines due to money-laundering concerns.
As of 2022, there were 1,459 Bitcoin ATMs in Europe with 17 in the United Kingdom. In March, 2022, Crypto ATMs were banned from operating in the UK.
As of November 2025, there were approximately 28,000 ATMs accepting cryptocurrency in the United States. Of those, more than 16,00 are operated by three companies: Bitcoin Depot, CoinFlip and Athena Bitcoin.
Most US cryptocurrency ATMs charge transaction fees between 6.5% and 20%. Several bitcoin ATM companies, including the two largest bitcoin ATM companies Bitcoin Depot and Coin Cloud, charge this fee as a percentage of an exchange rate that is significantly less favorable to customers than the market rate. This functionally adds an additional 20% fee for using bitcoin ATMs. According to comments made by Bitcoin Depot to its investors, the company specifically targets middle and lower income areas for placement of bitcoin ATMs. The company also attempts to minimize its own exposure to cryptocurrency as a volatile asset.
In February 2023, Cash Cloud, the company which operates the Coin Cloud ATMs, filed for bankruptcy. This was due to the company's exposure to Genesis Capital and the cryptocurrency crash which started in 2021. In March 2023, three people were arrested for operating 51 bitcoin ATMS in Northeast Ohio. The trio were charged with multiple violations, including money laundering, licensing violations, and receiving stolen property.