According to Cointelegraph: The total number of installed Bitcoin ATMs worldwide has faced an 11.1% decrease in comparison to the beginning of 2023, breaching the pattern of annual growth that spanned a decade.
Coin ATM Radar notes that as of January 1, 2024, the number of crypto ATMs globally dropped to 33,628 from 37,827, which was the number recorded on January 1, 2023. Despite some intermittent growth, the net number of Bitcoin ATMs saw an overall decline over the course of the past year.
Since the commencement of Coin ATM Radar’s crypto ATM tracking in October 2013, there was a consistent monthly increase in installed crypto ATMs. This surge culminated in an all-time high with an installation count of 39,376 ATMs in August 2022. However, this steady growth witnessed a stumble in 2023, with the United States showing the most significant drop of 15.4%, reducing the number of crypto ATMs from 32,672 to 27,631. The US continues to boast the majority share of global crypto ATMs, housing 82% of the total.
On the other hand, Australia, Canada, Spain, and Poland saw a steady growth in their crypto ATM installations. BitAccess, a leading crypto ATM manufacturer, is believed to have contributed to this decline, as its installations fell by 26% from 9,160 to 6,774 between August 2022 and January 1, 2024.
Despite the general decline, other industry players such as General Bytes and Genesis Coin managed to increase the number of Bitcoin ATMs in 2023.
MD crypto ATM operators exist across 71 countries, and Bitcoin (BTC) continues to be the leading cryptocurrency supported by crypto ATMs, followed by Bitcoin Cash (BCH), Ether (ETH), and Litecoin (LTC).
