2013 welcomed the first ever Bitcoin ATM, and since then several ATMs supporting crypto have popped up across the globe, with the majority of machines finding their home in tech-centric cities in America and Canada.

While not an ATM commonly found in most towns and cities around the world, Bitcoin\'s ATM industry has seen healthy growth since we welcomed the new year. January saw the launch of 127 new BTMs, and there are now 2152 of them in existence in total.

In addition, this January, the number of BTMs that can be used for Litecoin transactions has increased to 41.7%, up from 33.5% in December. The number of BTMs that support Litecoin now stands at 898.

Bitcoin-based ATMs offer many benefits. They allow users to process transactions without the assistance of a bank employee; they also offer the added benefit of allowing users to withdraw currency instantaneously, rather than making them wait the 3-5 days that most crypto exchanges demand.

However, Bitcoin ATMs don\'t come without their downsides, as they charge high transaction fees. How much will using one cost you? The ATMs add a transaction fee of around 8-10%.

Different machines will charge you different transaction fees, so if you do come across a city where they are available, it\'s advisable to visit different machines to find out the fees they charge before undertaking your transactions.