Bitcoin ATMs in Poland – How Many Are There and What's Their Purpose?

Poland has long been a Bitcoin advocate. As soon as cryptocurrency began to gain traction, Poland was one of the first countries to embrace it. 

For starters, the Medicover Group in Warsaw was the first hospital to accept Bitcoin as a form of bill payment. As well as this, Poland has been hosting a number of blockchain events for years, including the Global Metaverse Carnival, which aims to bring together like-minded crypto advocates and inform a growing community throughout the country. 

Bitcoin ATMs In Poland

If one were to need more convincing about the Polish appetite for crypto integration, however, you need only look at the Bitcoin ATMs that the country has started to install. There are around 23,000 Bitcoin ATMs globally,  but according to the Warsaw Business Journal, Poland ranks among the top 10 nations with the highest number. 

Based on the ranking, Poland is seventh in the world (USA leads the chart with 17,000) with a total of 112 Bitcoin ATM devices, placing them just ahead of Switzerland.

Most appear in major cities, but there are ATMs to be found across the country, with the top 5 provinces being:  

• Warsaw – 61 in total (selling at 2.9% and buying at 3.6%)
• Krakow – 40 in total (selling at 3.6% and buying at 2.4%)
• Gdansk – 16 in total (selling at 3.6% and buying at 2.4%)
• Wroclaw – 14 in total (selling at 3.6% and buying at 2.4%)
• Katowice – 14 in total (selling 40PLN at 7% and buying at 40PLN at 7.5%)

There are 44 provinces with Bitcoin ATMs, with the rest holding between 1 to 12 ATMs, respectively. 

What Is Their Purpose?

Bitcoin ATMs function similarly to ordinary ATMs, but rather than being connected to a bank account. They are connected to a cryptocurrency exchange. Investors of Bitcoin can use these ATMs to exchange their BTC for traditional fiat currency (PLN, USD, EUR etc.). 

Some also allow users to buy or sell crypto using their fiat currency. All a user needs to do is create an account on the exchange connected to the ATM, deposit cash into the machine and then follow the directives to purchase the chosen cryptocurrency. 

What Are Their Benefits?

For crypto users across the world, Bitcoin ATMs offer a real-time/real-world way of purchasing crypto and/or transferring their BTC into physical cash. This is especially true for Poland. Although Poland’s love of crypto rose alongside the price of Bitcoin, that doesn’t mean it has ever been entirely accepted. Bitcoin is now far more valuable than it was at the beginning, but there is still government hesitation and regulations to be created for crypto, meaning there are plenty of investors who would like a way of transferring their digital coins into something tangible. 

For those using them to buy more crypto, they are quick and easy to use – whereas buying on some online exchanges can take hours or sometimes even days – and they are available 24 hours a day. For those who are looking to sell or buy high numbers of BTC, they are also secure and can offer high limits. They are accessible for those who do not have a bank or credit card and can work with just cash and a phone number.

Are There Any Risks?

That’s not to say there are no risks involved, however. Being in highly populated cities, Poland’s Bitcoin ATMs are far more visible than if a user were to sell or buy crypto in their own homes. As well as this, users are required to input their private key for withdrawals, which means – within such a visible area - there is more chance for personal information to be compromised. 

Bitcoin ATMs are also not subject to the same regulations as traditional ATMs, which inherently makes them less reliable and could become a problem if something were to go wrong during use. With that being said, it is up to the user to ensure they are using a reputable, legitimate machine before inputting their information. Fees must always be double-checked, and it is important that rates are compared before buying or selling more BTC in order to know if you can trust a particular machine and whether it is better to use compared to an online exchange.

Is This The Future Of Crypto?

It is likely that, as the world moves closer to Web3, there will be more ATMs springing up on our streets! Cryptocurrency is going through its second crypto winter right now, but just like the last winter, there will be a moment when the market turns and goes bullish once more. This will likely bring on board a number of new investors, with more retail locations accepting digital currency. 

Poland is one of the top ten countries when it comes to Bitcoin ATMs, but – with the price of Ethereum and other altcoins also set to rise – there could be specific Ethereum ATMs, Binance ATMs or even, one day, Dogecoin ATMs (although that’s probably more of a pipe-dream). For now, however, if you are a crypto user in Poland, then look out for more of these Bitcoin ATMs popping up on the streets. Just be sure you are in a safe and secure place when you are using one!