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Bitgamo, a crypto-to-fiat exchange based in Luxemburg, said it will open 75 cryptocurrency ATMs across Europe in 2024.
Bitgamo says it’s a fast-growing exchange that is known for its no-KYC (know your customer) policy, enabling its users to trade crypto without registering or disclosing personal information. Luxemburg does not require such disclosures.
Bitgamo to Bring 75 Crypto ATMs in Europe in 2024 https://t.co/fXVIhjbIKd via @YahooFinance
— Bitgamo (@bitgamo) September 10, 2023
According to Coin ATM radar, a site that enables users to find crypto ATMs, there are currently over 32,000 crypto ATMs located in 69 countries. These ATMs are stand-alone electronic kiosks where users can sell cryptocurrencies for cash.
Crypto ATMs have become increasingly popular among crypto users and enthusiasts and as a result, the number of ATMs has increased significantly, especially since 2021. The first was set up in 2014 in Canada.
Bitgamo To Face Europe’s Competitive Crypto ATM Market
If Bitgamo successfully establishes its crypto ATMs in Europe, it will add to the more than 1,400 ATMs that currently exist on the continent, according to statistics from Coin ATM radar. Of these, 234 are operated by Kurant, which runs 15.9% of all of Europe’s crypto ATMs.
Top Crypto ATM Operators in Europe
Kurant is followed closely by Shitcoins, which operates 222 ATMs, or 15.1% of the ATMs in Europe. The top 10 operators in the continent run 934 crypto ATMs, or 63.4% of the total. There are 137 operators in Europe making it a competitive space to venture into.
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