By Azeez Quadri 
What is Crypto ATM?
A cryptocurrency ATM is a physical kiosk that connects cash or debit cards directly to a blockchain network allowing users to buy or sell their digital assets for cash or other forms of payment.
Fact check: The first cryptocurrency ATM was installed at the Waves Coffee Shop in Vancouver, Canada, on October 29, 2013
Cryptocurrency automated teller machines (ATMs) are an increasingly popular way to buy and sell digital currencies such as Bitcoin, Ethereum, and other digital assets. These machines are similar to traditional ATMs in that they allow users to deposit or withdraw cash, but instead of dispensing physical currency, they facilitate cryptocurrency transactions.
Cryptocurrency ATMs connect users to online exchanges where they can buy or sell digital currencies by directly dispensing cryptocurrencies from the ATM. This way, they provide a simple and convenient way for people to access the world of digital currencies and participate in the growing blockchain technology ecosystem.
How it works
It is similar to a traditional ATM, which allows users to withdraw fiat currency or perform other banking transactions. However, it is explicitly designed for cryptocurrency transactions, and instead of dispensing cash, it dispenses cryptocurrencies, such as Bitcoin or Ethereum.
Data: There are approximately 28,300 active crypto machines globally as of Tuesday, 16 September 16, 2026, down from over 39,000.
Users can insert cash into the machine to purchase or deposit cryptocurrencies to receive fiat currency. Some cryptocurrency ATMs also allow users to exchange one type of cryptocurrency for another.
Cryptocurrency ATMs are often in public places like shopping centres, airports, or train stations. They are a convenient way for people to buy or sell cryptocurrencies, especially for those who need access to a traditional exchange or who prefer to conduct transactions in person.
History of Cryptocurrency ATMs
The first cryptocurrency ATM was installed in Vancouver, Canada, on October 29, 2013, by Robocoin. The machine allowed users to buy and sell Bitcoin using cash, and it caused a significant media buzz at the time.
After the launch, many other companies started developing crypto machine. By 2014, there were around 40 cryptocurrency ATMs worldwide, and the number continued to grow over the following years. In 2017, the number of cryptocurrency ATMs reached 1,000.
Currently, 28,300 crypto ATMs operating globally, according to the data compiled by coinatmradar.com on 16 September 2026. Over 90% of the crypto ATMs support BTC transactions, over 20,000 of the machines also supports Litecoin (LTC), Ethereum (ETH), Dogecoin (DOGE), and Bitcoin cash (BCH) and other altcoins.
Which country has the most Crypto ATM machines?
The speed of crypto machines installed over time is recorded by a gauge scale, which shows that 14.7 crypto ATMs are installed daily. According to 2025 data by Coin ATM Radar, (that is before the number dose-dived to 28,300), the U.S has the highest number of Crypto ATMs, followed by Canada while Australia occupies the third position.
Bitcoin ATMs by Country
- United States: 31,227
- Canada: 3,696
- Australia: 2,006
- Spain: 391
- Poland: 313
- Hong Kong: 235
- Italy: 224
- New Zealand: 217
- El Salvador: 212
- Romania: 170
- Germany: 148
- Switzerland: 137
- Austria: 136
- Slovakia: 105
- Czechia: 101
- Mexico: 93
- Georgia: 89
- Philippines: 85
- Panama: 47
- Puerto Rico: 47
- Croatia: 35
- Bulgaria: 32
- Colombia: 31
- Netherlands: 30
- South Africa: 29
- Russia: 27
- Guatemala: 23
- Armenia: 19
- Dominican Republic: 17
- Finland: 15
- Kosovo: 15
- Argentina: 13
- Ukraine: 13
- Greece: 11
- Taiwan: 11
- Israel: 10
- Portugal: 10
- Brazil: 9
- Costa Rica: 8
- Peru: 8
- South Korea: 8
- Chile: 7
- Lebanon: 7
- Türkiye: 7
- Cyprus: 6
- Ecuador: 6
- Vietnam: 6
- Paraguay: 5
- Bosnia & Herzegovina: 4
- Bolivia: 3
- Japan: 3
- Anguilla: 2
- Antigua & Barbuda: 2
- Honduras: 2
- Nigeria: 2
- Suriname: 2
- Belgium: 1
- Botswana: 1
- Djibouti: 1
- France: 1
- Hungary: 1
- Indonesia: 1
- Kenya: 1
- Montenegro: 1
- North Macedonia: 1
- Saint Kitts & Nevis: 1
- Serbia: 1
- Slovenia: 1
- Thailand: 1
- Uganda: 1
- United Arab Emirates: 1
- Uruguay: 1
Is there crypto ATM in Nigeria?
According to Coin ATM, Bitcoin ATMs in Nigeria can be found at CI Cryptosolutions at No. 22 Igbasan Street, Opebi, Ikeja, Lagos and Dazey Lounge and Bar at 80 Oke-ira, Ajah, Lagos. However, due to the unstable crypto policies in Nigeria. The Bitcoin ATMs functionality are doubtful. Until recently, crypto-related trading was ban in Nigeria, especially during the administration of President Muhammadu Buhari.
Types of crypto ATMs
There are several types of cryptocurrency ATMs, each with its features and capabilities. Here are some of the most common types:
One-way or Unidirectional ATMs:
These machines allow users to buy cryptocurrencies using cash but do not allow users to sell or withdraw fiat currency.
Two-way or Bi-directional ATMs:
These machines allow users to buy and sell cryptocurrencies using cash. They can also dispense cash in exchange for cryptocurrencies.
Cryptocurrency ATMs can also differ regarding the types of cryptocurrencies they support, the fees they charge, and the transaction verification process required. Researching different types of cryptocurrency ATMs before using one is essential to ensure it meets your specific needs.
How do they work?
Crypto ATMs are usually connected to a crypto exchange, which facilitates the purchase and exchange of cryptocurrency. The exchange ensures the transaction goes through and will take a fee. Crypto ATMs offer users a convenient and secure way to purchase and exchange cryptocurrency quickly. By connecting to a crypto exchange, users can access a wide range of cryptocurrencies to find the best deals and maximize their return on investment.
How to find Crypto ATMs near You
There are three ways to search for Bitcoin ATM near you:
1) Use a cryptocurrency ATM locator service:
Several websites and mobile apps allow you to search for cryptocurrency ATMs based on your location. Some popular BTC ATM locator services include:
- CoinFlip,
- GeneraBytes,
- Newhedge
- Bitomat
- Atmcryptoradar
- Cash2Bitcoin
- Rothbard
- Coin ATM Radar (not available in some countries, at the time of publishing, Nigeria is blocked from using it),
2) Check the website of the cryptocurrency ATM operator:
Many cryptocurrency ATM operators have a website that lists the locations of their machines. Check the website of popular operators like CoinFlip, Bitcoin Depot, and Coin Cloud.
3) Search on Google Maps:
You can also search for cryptocurrency ATMs on Google Maps. Enter “cryptocurrency ATM” or a similar keyword into the search bar, and the map will display any nearby locations.
How to Use a Crypto ATM to Buy and Sell Bitcoin and Other Cryptocurrencies
The exact process of using a cryptocurrency ATM may vary slightly depending on the specific machine, but here are the general steps for how they work.
Location of a crypto ATM: Users locate crypto ATMs near them using a cryptocurrency ATM locator service or searching online for the closest cryptocurrency ATM.
Creation or Verification of digital wallet: Crypto ATMs connect to the digital wallet to process transactions. A digital wallet is also needed to store the crypto that will be purchased. Some machines allow users to create a new wallet, while others require verifying an existing one.
Verification: The user starts by verifying their identity, either by scanning a government-issued ID, providing personal information or performing a biometric scan, such as a fingerprint, to use the machine.
Selection: The user then selects the cryptocurrency they want to buy or sell and the amount they wish to transact.
Payment: If the user is buying, they insert cash into the ATM, or if they are using a credit/debit card, they swipe or tap it. If the user is selling, they transfer the cryptocurrency to the ATM.
Confirmation: The ATM then confirms the transaction and is recorded on the blockchain, the decentralized ledger that tracks all cryptocurrency transactions.
Receipt: The user can then print a receipt that shows the details of the transaction.
Not all cryptocurrency ATMs work the same way, but most follow a similar process. Some may have different options for payment or Verification, and some may have different fees or limits on the amount of cryptocurrency that can be transacted. Users need to read the instructions carefully and understand the terms and fees associated with each transaction.
In addition to buying and selling digital currencies, cryptocurrency ATMs allow users to deposit and withdraw cash from their digital wallets. It enables users to quickly transfer funds without going through a traditional financial institution.
Crypto ATMs can also be used for exchanging one cryptocurrency for another. To do this, users must select the cryptocurrency they want to exchange and provide their wallet address. The crypto ATM will then transfer the exchanged cryptocurrency to the user’s wallet.
Advantages of using a Crypto ATM
Convenience: Cryptocurrency ATMs offer a convenient way to buy or sell cryptocurrencies in a physical location. Users can use a cryptocurrency ATM to purchase or sell cryptocurrencies quickly and easily without going through the lengthy process of setting up an account on an exchange.
Quick transactions: Cryptocurrency ATMs can process transactions quickly, usually within a few minutes, Which is much faster than buying or selling cryptocurrencies on exchanges, which can take several days to complete.
Easy to use: Cryptocurrency ATMs are typically designed to be easy to use, with intuitive touchscreen interfaces and clear instructions; this makes them accessible to users who may not be familiar with buying or selling cryptocurrencies.
Disadvantages
While cryptocurrency ATMs can be a convenient way to buy or sell cryptocurrencies, they also have some disadvantages to be noted by users. Here are some potential disadvantages of using a cryptocurrency ATM:
High fees: Cryptocurrency ATMs can have higher fees than buying or selling cryptocurrencies on exchanges. Fees can vary depending on the operator, the machine’s location, and the transaction amount.
Limited cryptocurrency options: Not all cryptocurrency ATMs support the same cryptocurrencies, and some machines may only support popular cryptocurrencies like Bitcoin, while others may support a broader range of altcoins. Before using a cryptocurrency ATM, ensure it supports the cryptocurrency you want to buy or sell.
Limited transaction limits: Some cryptocurrency ATMs may have limited transaction limits, which can be inconvenient if you need to make larger transactions. Limits can vary depending on the machine and the operator.
Limited hours of operation: Some cryptocurrency ATMs may have limited hours of operation, which can be inconvenient if you need to make transactions outside of regular business hours.
In conclusion, Cryptocurrency ATMs have become an essential part of the cryptocurrency ecosystem, allowing people to buy and sell cryptocurrencies easily and quickly. As the adoption of cryptocurrencies continues to grow, the number of cryptocurrency ATMs will also continue to increase.