In the past year, the global count of cryptocurrency ATMs surged by 17.8% to reach 38,279, approaching the previous record of 39,541. This milestone was established in December 2022. The surge in crypto ATMs highlights the increasing accessibility to cryptocurrencies among the general public.
Global ATM Revolution
According to Coin ATM Radar, a total of 2,564 new digital asset ATMs are now installed around the globe. This shows a less favorable trend compared to the net reduction of 2,861 machines in 2023.
From July 2023 to May 2024, the installation figures have shown a consistent rise, except for a slight decline in May and June, where installations dropped by 115.
In June, there was a net increase of 377 machines as the market swiftly rebounded. From December 2022 to July 2023, installations hit an 18-month low of 32,764, in line with the overall decline in crypto asset values.
The main drivers of this expansion are the major crypto asset ATM providers, namely Bitcoin Depot with 7,543 machines. Coinflip has 5,057 machines, and Athena Bitcoin provides 2,756 ATM machines around the globe.
The most commonly utilized crypto assets via these crypto ATMs are Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and Bitcoin Cash (BCH).
The Global Crypto ATM Landscape
The United States ranks as the country with the highest number of ATM machines, dominating with over 82%. Following far behind in second place is Canada, with a share of 7.7%.
The high number of ATMs in the U.S. is due to its large population, high number of successful crypto exchanges, and competitive banking industry. Notably, crypto ATMs are already present in 72 out of the 193 countries recognized by the UN. This showcases the widespread acceptance and interest in digital currencies.
Meanwhile, Australia has seen a significant increase, with 1,107 ATMs set up in the last two years. With this figure, it is set to surpass Europe in the number of ATMs soon. This development corresponds to the rising popularity of crypto assets and digital products flourishing in the country.
Other countries that have a significant number of cryptocurrency ATMs are Spain with 313 machines, Poland with 279, El Salvador with 215, Germany with 177, and Hong Kong with 169.
In addition, Romania, Georgia, Switzerland, Austria, and New Zealand each have more than 100 ATMs.
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