Number of Bitcoin ATMs Dropped 11% in 2023
In contrast to a 10-year trend that saw the total rise at the beginning of every year, there are approximately 11.1% fewer installed Bitcoin ATMs globally now than there were at the beginning of 2023.
The number of cryptocurrency ATMs worldwide as of January 1, 2024, according to Coin ATM Radar, is 33,628. This is a decrease from the 37,827 recorded on January 1, 2023.
Throughout 2023, there was a mix of growth and decline in the net total number of Bitcoin ATMs, but by the end of the year, the number had dropped.
The number of installed cryptocurrency ATMs has increased monthly since Coin ATM Radar began tracking them in October 2013 and reached an all-time high of 39,376 in August 2022.
According to data from Radar, BitAccess, a manufacturer of cryptocurrency ATMs, may have had a hand in that decline.
From 9,160 in August 2022 to 6,774 on January 1, 2024, the company's net installations decreased by 26%.
But throughout the year, two more significant producers—General Bytes and Genesis Coin—kept adding to their lineup of Bitcoin ATMs.
In the meantime, one of the major participants in the cryptocurrency ATM market, Bitcoin Depot, recently expanded to its 28th state in the United States and went public on July 3rd on the Nasdaq.
Additionally, it disclosed Q3 2023 revenue of $179.5 million, a 3% increase over the previous year.
According to data from Coin ATM Radar, there are 498 cryptocurrency ATM operators spread over 71 countries.
While other cryptocurrencies that can be purchased from ATMs include Bitcoin Cash (BCH), Ether (ETH), and Litecoin (LTC), Bitcoin (BTC) is by far the most popular cryptocurrency supported by crypto ATMs.
Sources:
https://cointelegraph.com/news/bitcoin-crypto-atm-installed-number-falls-2024-new-year
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