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ChainBytes announced that Bitcoin ATMs provide financial access to unbanked individuals by enabling cash transactions without the need for traditional banking services. This statement was shared in a blog post.
According to ChainBytes, Bitcoin ATMs (BTMs) serve as an important bridge to financial services for the unbanked population worldwide. An estimated 1.6 billion adults globally lack access to traditional banking, and BTMs allow these individuals to purchase Bitcoin directly with cash and a smartphone wallet without requiring a bank account or credit card. This positions them as a direct entry point into the global digital economy, bypassing traditional institutional barriers.
The economic significance of Bitcoin ATMs is underscored by their growing global network, with over 37,000 machines installed across 80 countries as of 2023, according to Coin ATM Radar. The United States leads deployment with more than 30,000 machines, while countries like Canada, Spain, and Poland also rank highly in availability. This growth illustrates strong demand for decentralized access to cryptocurrencies and highlights BTMs as a viable business model in both developed and emerging markets.
