The rise of cryptocurrency is no longer confined to digital wallets and online exchanges. Across the United States, from convenience stores in Montana to gas stations in the Carolinas and delis tucked away in New York City, a new fixture is quietly appearing—shiny Bitcoin ATMs that allow users to buy or sell digital currency, and in some cases, even withdraw cash.
Driven by surging interest in cryptocurrencies and a record-breaking Bitcoin price exceeding $58,000 in recent months, these kiosks are multiplying at an unprecedented pace. What was once a rare sight has become a common feature in everyday retail environments, signaling a shift toward mainstream adoption.
👉 Discover how Bitcoin adoption is reshaping financial access across America.
The Rapid Expansion of Bitcoin ATM Networks
Over the past year, the number of Bitcoin ATMs in the U.S. has skyrocketed. According to data from howmanybitcoinatms.com, there were 28,185 such machines operating nationwide as of January. That represents roughly 10,000 new installations within just five months—highlighting explosive growth.
Companies like CoinFlip, Coin Cloud, and Bitcoin Depot are leading this expansion, strategically placing machines in underserved or untapped markets. Mark Shoiket, founder of Quad Coin, identified so-called "Bitcoin deserts" by analyzing geographic gaps in ATM coverage. After spotting limited access in Montana, he flew there and installed seven machines during a weeklong road trip—including one at 406 Glass in Billings, a shop selling tobacco, vape cartridges, and glass pipes.
This aggressive rollout reflects a belief that demand exists wherever people seek alternative financial tools. As Shoiket put it: “I just assumed there was demand—people want Bitcoin everywhere.”
Why Are People Using Bitcoin ATMs?
While online exchanges dominate crypto trading volume, Bitcoin ATMs serve a unique role for many users. Several key factors explain their appeal:
- Cash accessibility: Many users prefer paying with physical cash rather than linking bank accounts.
- Financial inclusion: An estimated 5% of U.S. households are unbanked. For them, Bitcoin ATMs offer a gateway to digital assets without traditional banking infrastructure.
- International remittances: Some use these machines to send money abroad quickly and without high wire fees.
- Privacy concerns: Though not fully anonymous, ATM transactions often require less personal information than online platforms.
- User comfort: Interacting with a physical machine can feel more tangible and trustworthy for first-time users.
Rebecca White, a 51-year-old nuclear industry worker and Bitcoin investor from Pittsburgh, uses both online platforms and ATMs. For smaller purchases—like when she has $60 left after grocery shopping—she stops by a local Bitcoin ATM to invest the surplus.
“It’s convenient,” she said. “It feels real when you’re standing in front of a machine and handing over cash.”
How Do These Machines Work?
Bitcoin ATMs vary in functionality. Some only support buying or selling Bitcoin, while others allow transactions in multiple cryptocurrencies like Ethereum or Litecoin. However, only a small fraction offer cash withdrawals.
Fees are notably higher than traditional banking or online crypto exchanges. According to Pamela Clegg, Director of Financial Investigations and Education at compliance firm CipherTrace, transaction fees range from 6% to 20%, depending on location and operator.
For example:
- CoinFlip charges 6.99% to buy Bitcoin and 4.99% to sell.
- Coin Cloud and Bitcoin Depot have similar pricing models, adjusted based on market conditions and operational costs.
Despite the premium pricing, usage continues to climb.
Industry Growth Despite Regulatory Concerns
While regulators have raised red flags over potential misuse—such as fraud or money laundering—the industry shows no signs of slowing down. A February report by the New Jersey Division of Consumer Affairs titled "Scams, Suspicious Transactions, and Questionable Practices at Cryptocurrency ATMs" highlighted risks associated with unregulated machines.
However, compliance measures are improving. Major operators now implement KYC (Know Your Customer) protocols, requiring ID verification for larger transactions.
Today, every U.S. state except Alaska has at least one Bitcoin ATM—and Washington D.C. is included in the network. According to Coin ATM Radar’s interactive map, new installations are popping up regularly in rural towns and suburban neighborhoods alike.
👉 See how financial innovation is bridging gaps in underserved communities.
Leading Operators Scaling Up
Major players are expanding rapidly:
- Coin Cloud, based in Las Vegas, operates 1,470 machines nationwide and aims to reach 10,000 by year-end. CEO Chris McAlary noted that foot traffic actually increased during pandemic lockdowns: “We expected the worst with COVID, but government stimulus checks helped. People took that money and bought crypto.”
- CoinFlip, headquartered in Chicago, grew from around 420 ATMs last year to over 1,800 today. Transaction volume per machine nearly tripled during the same period. CEO Daniel Polotsky emphasized accessibility: “Some people don’t have bank accounts—or they simply don’t like using them.”
- Bitcoin Depot, based in Atlanta, scaled from 500 to more than 1,800 machines in a single year. CEO Brandon Mintz said most customers are aged 25–40 and find ATMs through online searches.
Even hardware suppliers are struggling to keep up. General Bytes, a manufacturer of Bitcoin ATM machines, faced temporary stockouts last summer due to overwhelming demand. Founder Karel Kyovsky said the company sold 3,000 units in 2024—90% destined for North America.
Not All Machines Succeed
Despite the boom, not every installation thrives. Mark Shoiket removed a portion of his 200 deployed ATMs after they failed to generate profit within six months.
In some locations, usage remains minimal. At Grassy Point Bar & Grill in New York’s Broad Channel, staff had to assist a reporter just to activate the machine. Similarly, Vivian Sonder, owner of Pioneer Auto Museum in Murdo, South Dakota, said only a few truck drivers have used the Coin Cloud ATM installed five months ago.
“I don’t understand why they placed it here,” Sonder admitted. Her museum receives $200 monthly rent for hosting the machine, with technicians traveling 140 miles from Rapid City for maintenance.
FAQ: Understanding Bitcoin ATMs
Q: What is a Bitcoin ATM?
A: A Bitcoin ATM is a kiosk that allows users to buy—or sometimes sell—Bitcoin and other cryptocurrencies using cash or debit cards. Unlike traditional ATMs, they don’t dispense fiat currency (except in rare cases).
Q: Do I need ID to use a Bitcoin ATM?
A: For small transactions (usually under $900), most machines don’t require ID. Larger transactions typically require phone number verification or photo ID to comply with anti-money laundering regulations.
Q: Are Bitcoin ATMs safe?
A: Reputable operators follow regulatory guidelines and use encryption and identity verification. However, high fees and potential scams mean users should research locations and operators before transacting.
Q: Why are fees so high?
A: Operators cover costs like cash handling, connectivity, maintenance, compliance, and location rent. Since many users value convenience and privacy over cost-efficiency, premium pricing remains viable.
Q: Can I withdraw cash from a Bitcoin ATM?
A: Most only allow purchases. A minority support two-way transactions—enabling users to sell crypto for cash—but these are less common.
Q: Where can I find a Bitcoin ATM near me?
A: Online tools like Coin ATM Radar provide real-time maps showing nearby machines, supported coins, and current fees.
As digital currency becomes increasingly embedded in daily life, Bitcoin ATMs represent more than just technological novelty—they reflect evolving financial behaviors and growing demand for decentralized options.
Whether driven by necessity, curiosity, or investment strategy, millions of Americans are now just a short walk away from entering the world of crypto.
👉 Explore the future of decentralized finance and how it's changing lives today.