Author: Brayden Lindrea, Cointelegraph; Compiled by: Songxue, Golden Finance
The number of Bitcoin ATM installations has decreased by approximately 11.1% from the beginning of 2023, which is consistent with the 10 years when the number of Bitcoin ATMs increased at the beginning of each year The trend is opposite.
As of January 1, 2024, the number of global cryptocurrency ATMs was 33,628, down from the 37,827 recorded on January 1, 2023, according to Coin ATM Radar. The net total number of Bitcoin ATMs increased and decreased in 2023, but showed a downward trend at the end of the year.
Number of cryptocurrency ATMs worldwide. Source: Coin ATM Radar
Since Coin ATM Radar first started tracking crypto ATMs in October 2013, the number of installed crypto ATMs has grown steadily month over month until reaching an all-time high in August 2022 39,376 units.
However, the numbers have since started to decline, especially throughout 2023. The largest decline in the number of crypto ATMs in 2023 was in the United States, where the number fell by 15.4% from 32,672 to 27,631. However, the country still hosts 82% of the world’s crypto ATMs.
Meanwhile, numbers are rising steadily in Australia, Canada, Spain and Poland.
Crypto ATM maker BitAccess may be one of the reasons for this decline, with net installations falling from 9,160 units in August 2022 to January 1, 2024, according to Coin ATM Radar of 6,774 units, a decrease of 26%.
Cryptocurrency ATMs installed by General Bytes, Genesis Coin, BitAccess and Lamassu. Source: Coin ATM Radar
However, two other major manufacturers, General Bytes and Genesis Coin, have continued to increase the number of Bitcoin ATMs this year.
Meanwhile, Bitcoin Depot, one of the major players in the cryptocurrency ATM space, launched on Nasdaq on July 3 and recently expanded to its 28th U.S. state. It also reported third-quarter 2023 revenue of $179.5 million, up 3% year over year.
Data from Coin ATM Radar shows that there are 498 crypto ATM operators in 71 countries.
Bitcoin (BTC) is by far the main cryptocurrency supported by crypto ATMs, while Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC) can be purchased from ATMs of other cryptocurrencies.
Cryptocurrency ATM supports various cryptocurrencies. Source: Coin ATM Radar
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