YEREVAN (CoinChapter.com) — The number of crypto ATMs installed globally has surged by 17.8% to about 38,280 over the past year, nearing the all-time high of 39,541 set in Dec. 2022. The surge could be a signal of increasing crypto adoption.
In 2024, over 2,560 new cryptocurrency ATMs were installed, marking a positive shift from 2023, which saw a net loss of 2,861 machines, according to Coin ATM Radar.
Installations increased every month from July 2023 to May 2024. Although there was a brief dip between 2022 and 2023, with a significant drop in installations, 2024 has shown a recovery with a net increase in the number of Crypto ATMs.
Bitcoin Depot, Coinflip, and Athena Bitcoin are leading the cryptocurrency ATM market. Moreover, Bitcoin Depot has 7,543 machines, followed by Coinflip with 5,057, and Athena Bitcoin with 2,756.
Bitcoin is the most popular cryptocurrency transacted through these ATMs, followed by Bitcoin Cash, Ether, and Litecoin.
In terms of geography, more than 82% of the world’s cryptocurrency ATMs are in the United States. Canada follows with 7.7%. Australia has seen a significant increase, rising nearly 17-fold to over 1,100 machines in two years. At the current rate, Australia may soon surpass Europe’s 1,584 ATMs.
Spain, Poland, and El Salvador have notable numbers of cryptocurrency ATMs, with 313, 279, and 215 machines, respectively. Germany and Hong Kong also have significant numbers, with 177 and 169 ATMs each.
Between Dec. 2022 and July 2023, the total number of installations dropped to an 18-month low of 32,764. BitAccess net installations fell by 26% from 9,160 in Aug. 2022 to 6,774 in Jan. 2024 before mounting a recovery in later in the year.
Notably, among the 193 United Nations-recognized countries, 72 operate a crypto ATM. Countries with more than 100 ATMs include Romania, Georgia, Switzerland, Austria, and New Zealand.
Above all, the steady increase in cryptocurrency ATMs, despite previous setbacks, highlights the sector’s recovery in the cryptocurrency ATM sector. In fact, President Nayib Bukele’s promise of a Bitcoin bank project could also advance crypto’s advancement goals.
Solana's Billy hit $117M market cap on Pump.fun, now at $115M, becoming the platform's second-largest…
Polkadot Academy Hit with Discrimination Allegations YEREVAN (CoinChapter.com) — Polkadot is under scrutiny for alleged…
Many other aspects of crypto trading have surged to life following Bitcoin's recent woes, as…
There has been a general bearish downturn in the cryptocurrency market recently. Amid this, some…
In the final week of June, Ether investment products saw their largest outflow since August…
Gemini's five-year Bitcoin sponsorship with Real Bedford FC aims to supercharge the club's finances and…