Number of Bitcoin ATMs Up 500% Since 2016

Michael LaVere
  • Bitcoin ATM installations up 500 percent since September 2016
  • Coin ATM Radar shows more than 5500 ATMs in 74 different countries. 

Physical cryptocurrency kiosks are on the rise, with the rate of bitcoin ATM installations up 500% since 2016. 

Bitcoin ATM Growth

According to data compiled by Coin ATM Radar, bitcoin ATM installations have continued to rise steadily over the last three years despite the fluctuating price of cryptoicurrencies. The website estimates the total number of bitcoin ATMs at over 5,500 worldwide, which indicates an increased installation of 500% since 2016. 

Twitter user bitrawr first drew attention to the milestone, speculating that the increase in installations over the last three years is indicative of strong demand.

While ATMs tend to be less advantageous than digital exchanges in the fees they charge, which can be as high as 15%, they provide a convenient physical kiosk for transferring BTC to fiat and vice-versa. Some users have also taken advantage of the kiosks while traveling, allowing them to live at least partially supported by crypto. 

According to Coin ATM Radar, there are now bitcoin ATMs in 74 different countries, with more than 550 operators. The United States has the greatest number of ATMs, at 3,506 kiosks, with Canada in second place at 700.

Featured Image Credit: Photo via Pixabay.com

GateHub Data Breach Compromised Crypto Wallet Passwords for 1.4 Million Users

Michael LaVere
  • More than 1.4 million users were affected by the data breach of crypto wallet service GateHub.
  • User email addresses, passwords and two-factor authenticators were posted to the dark web. 

A massive data breach has led to more than 2.2 million users having their password data and personal information posted online, including information from the crypto wallet service GateHub. 

According to a report by Ars Technica published Nov. 19, security researcher Troy Hunt confirmed that more than 2.2 million users had their data posted online in a massive breach of privacy.

Hunt, who is the researcher behind the “Have I Been Pwned” breach notification service, says that 1.4 million accounts from GateHub’s cryptocurrency wallet service were impacted, in addition to 800,000 accounts on the RuneScape bot provider Epic Bot.

The stolen information includes user email addresses, passwords, and two-factor authentication. While the original poster of the 3.72GB GateHub database claimed it included wallet hashes, GateHub officials later disputed the point following an investigation. 

GateHub previously notified users of a hack occurring in July, which resulted in the theft of 23 million XRP. However, the company claimed the data compromise had been limited to around 18,000 user accounts, far from the 1.4 million that have recently been posted to the dark web. 

Featured Image Credit: Photo via Pixabay.com