• April 25, 2024

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Number of New Bitcoin ATMs Falls to a 3-year Low

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The number of Bitcoin ATMs installed around the world dropped sharply throughout 2022, with only 202 new Bitcoin ATMs registered in May. The last time such a figure was recorded three years ago in 2019.

Since January 2022, the rate of new devices has gradually slowed, eventually dropping 89.75% compared to 1,971 installations in December 2021.

According to Coin ATM Radar, in contrast, June saw a sharp spike, as 817 bitcoin ATMs were installed in the first five days.

Some of the factors contributing to the slowdown in cryptocurrency ATM installations are geopolitical tensions around the world, vague or anti-cryptocurrency regulations, market saturation and the negative business impact of the ongoing coronavirus pandemic.

According to data from Coin ATM Radar, the United States is home to 87.9% of the total 37,826 cryptocurrency ATMs worldwide.