Global Surge in Cryptocurrency ATM Installations Nears 2022 Record
Summary:
Over the past year, global cryptocurrency ATM installations have surged by 17.8% to 38,279, nearing the record set in 2022. With the U.S hosting 82% of the total crypto ATMs, there's been noticeable growth in countries like Australia, where ATM installations nearly multiplied 17-fold over two years. Bitcoin remains the most traded cryptocurrency. From July 2023 to 2024, the tally of ATMs increased each month, despite a slight dip in May-June 2024.
Over the past year, there has been a 17.8% surge in the worldwide installation of cryptocurrency ATMs, raising the total to 38,279. This development peers the record of 39,541 ATMs set in December 2022. Until now, in 2024, 2,564 new ATMs have been introduced, a striking progression considering the reduction of 2,861 machines in 2023 as per Coin ATM Radar. Each month from July 2023 to 2024 witnessed a persistent rise in ATM count. Although a decline occurred from May to June by 115, June showed a robust rebound with an increase of 377 ATMs. Bitcoin Depot, Coinflip, and Athena Bitcoin emerged as the top cryptocurrency ATM operators, possessing 7,543, 5,057 and 2,756 machines respectively. The most-traded cryptocurrency is Bitcoin (BTC), but Bitcoin Cash (BCH), Ether (ETH) and Litecoin (LTC) also remain popular. The United States houses over 82% of the world's cryptocurrency ATMs, followed by Canada with 7.7%. Meanwhile, Australia witnessed a spike in installations, with the count raising almost 17-fold to 1,107 in two years, threatening to exceed Europe's 1,584 ATMs. Spain (313), Poland (279), El Salvador (215), Poland (211), Germany (177) and Hong Kong (169) are among other countries with substantial ATM numbers. Countries such as Romania, Georgia, Switzerland, Austria and New Zealand also host over 100 ATMs. Altogether, 72 out of the 193 United Nations-recognized countries hold a cryptocurrency ATM. Between December 2022 and July 2023, there was a notable slump in net installations, dropping the count to a low of 32,764 in 18 months. Data from Coin ATM Radar points towards BitAccess, a cryptocurrency ATM manufacturer, contributing to this decrease as its net installations fell by 26% from 9,160 in August 2022 to 6,774 in January 2024. Nevertheless, it has since added 1,208 net installations.
Published At
6/30/2024 8:43:36 AM
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