Which country leads Bitcoin ATM adoption in LATAM?

Latin America’s Bitcoin ATM ecosystem reveals striking contrasts in cryptocurrency adoption across the region.

El Salvador stands out as the undisputed leader, dominating the landscape with the highest number of Bitcoin ATMs.

LATAM leader in Bitcoin ATMs

According to Coin ATM Radar, El Salvador has 215 Bitcoin ATMs, far surpassing its regional competitors.

This remarkable achievement underscores El Salvador’s pioneering role in incorporating cryptocurrencies into its economy, especially following its landmark decision to adopt Bitcoin as legal tender in 2021.

Trailing behind in second place is Puerto Rico, with 162 Bitcoin ATMs.

However, the gap between the two is significant, reflecting the leader’s aggressive push for cryptocurrency integration.

Mexico ranks third, operating 100 Bitcoin ATMs—less than half the number of the leading country.

LATAM crypto ATM ecosystem

Beyond the top three, the distribution of Bitcoin ATMs across Latin America shows notable disparities.

Panama ranks fourth with 42 ATMs, while Colombia rounds out the top five with 34.

These figures highlight varying adoption rates of cryptocurrency services within the region.

Globally, the number of operational Bitcoin ATMs peaked at 39,959 on December 1, 2022.

However, this has since stabilized, with approximately 37,249 active ATMs reported as of January 24, 2025.

Among these, nearly all—37,238—support Bitcoin transactions, while only 18,472 facilitate altcoin operations.

This discrepancy underscores Bitcoin’s dominant role as a decentralized peer-to-peer payment system, far outpacing other cryptocurrencies like Ethereum, despite the latter’s status as the second-largest cryptocurrency by market capitalization.

Bitcoin ATM market concentration

The Bitcoin ATM market is heavily concentrated.

Data from Coin ATM Radar shows that the top 10 operators control 28,771 ATMs, or 77.2% of the total.

Meanwhile, 346 smaller operators manage the remaining 22.8% across 8,477 ATMs. This concentration could influence competition and innovation in the sector.

The leading nation’s dominance in Bitcoin ATMs offers valuable insights into fostering cryptocurrency adoption.

Its proactive policies and investments in Bitcoin infrastructure serve as a model for other countries aiming to integrate digital currencies.

However, the uneven pace of adoption across Latin America points to the challenges of digital transformation.

Nations looking to bridge the gap must address technological infrastructure and regulatory frameworks to unlock the full potential of cryptocurrencies.

As the world increasingly transitions to digital currencies, the growth and distribution of Bitcoin ATMs will play a critical role in shaping the future of cryptocurrency adoption in Latin America.

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