Bitcoin • November 12, 2018, 5:37PM EST
Published 1 hour earlier on
UPDATED: November 12, 2018, 5:02PM EST

Global bitcoin ATM count nears 4,000

Read the non-AMP story on Theblock.co
The Block

According to data from Coin ATM Radar, there are a total of 3,990 bitcoin ATMs installed around the world. Bitcoin ATMs are kiosks that enable users to exchange cash for bitcoin. Some ATMs offer bidirectional functionality, enabling both the purchase and sale of bitcoins for cash. Because they typically do not apply know-your-customer requirements imposed by various governments, Bitcoin ATMs are popular for users that want to purchase and sell bitcoins anonymously.

What Bitcoin ATMs provide in anonymity features, though, they often take away in fees. According to the Consumer Financial Protection Bureau, some Bitcoin ATMs charge transaction fees as high as 7%. (Source: Ethereum World News)