Bitlish, a London-based Bitcoin exchange and ATM provider, has announced it plans to open an impressive 5,000 Bitcoin ATMs across Europe in 2017.
In an interview with Cointelegraph, Bitlish’s Max Grain said, “We plan to expand through our partner network across Russia and Europe. We look forward to connecting up to 300 BTMs in CIS (Commonwealth of Independent States) and 5,000 in Europe this year. We will also spread into the south of Russia in the coming months.”
Bitlish helps terminals (ATM and kiosks) and e-wallet (pay services) business owners earn on selling cryptocurrencies. However, the company doesn't install ATMs on its own. It works with partners across the globe to do so. There are four options listed on its website for businesses and individual customers to choose from.
Bitcoin ATMs Around the World
Data from Coin ATM Radar shows that the United States is the country with the most Bitcoin ATMs (840 locations), and Canada comes in at second place with 166 locations. They are followed by the United Kingdom (67), Spain (34), Austria (25), Finland (21), Switzerland (18), Japan (16), Czech Republic (16) and Australia (15). Most other countries listed have one or two ATMs, and a couple have around five to six of such machines. North America leads with a massive 75% share, followed by Europe at almost 20%.
Source: Coin ATM Radar
The spread of Bitcoin ATMs, or BTMs, depends on the user demand and stance of regulators in the region. BTMs can operate smoothly only in areas that have clear guidelines with respect to getting a license or other paper work. The profitability of such machines depends on the location.