Number of crypto ATMs installed nears its all-time record

The NFT Unicorn 8f8b760e-da6e-46c0-84e2-164494101285 Number of crypto ATMs installed nears its all-time record Crypto News

The number of cryptocurrency ATMs installed worldwide has spiked 17.8% to 38,279 over the last 12 months — inching closer to its record of 39,541 set back in December, 2022.

It includes a net 2,564 cryptocurrency ATMs added so far in 2024, which is on track to outpace the net negative 2,861 machines that were unplugged in 2023, according to Coin ATM Radar.

Number of cryptocurrency ATMs worldwide. Source: Coin ATM Radar

The tally increased every single month between July, 2023 and May, 2024.

Installations from May to June fell by 115 but June rebounded strongly with a net increase of 377.

Bitcoin Depot, Coinflip, and Athena Bitcoin are the leading cryptocurrency ATM operators, with 7,543, 5,057 and 2,756 machines, respectively.

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Tallies of the largest cryptocurrency ATM operators worldwide. Source: Coin ATM Radar

Bitcoin (BTC) is by far the most popular cryptocurrency transacted with, while Bitcoin Cash (BCH), Ether (ETH) and Litecoin (LTC) also feature prominently

More than 82% of the world’s cryptocurrency ATMs are in the United States, while Canada comes in second at 7.7%.

Australia has seen a surge in installations, increasing nearly 17-fold to 1,107 machines over the last two years.

At the current installation rate, Australia is well-positioned to surpass Europe’s 1,584 ATMs.

Other countries with significant cryptocurrency ATMs installations include Spain (313), Poland (279), El Salvador (215), Poland (211), Germany (177) and Hong Kong (169).

Romania, Georgia, Switzerland, Austria and New Zealand are the other countries with more than 100 ATMs.

72 of the 193 United Nations-recognized countries worldwide host a cryptocurrency ATM.

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Installations saw a considerable net decline between December 2022 and July, 2023, which saw the tally drop to an 18-month low of 32,764.

Coin ATM Radar’s data suggests cryptocurrency ATM manufacturer BitAccess contributed to that fall, with its net installations falling 26% from 9,160 in August 2022 to 6,774 in January, 2024.

However, it has managed to increase its net installations by 1,208 since then.

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Source: Cointelegraph