LAS VEGAS–After reaching an all-time high of more than 39,100 in December 2022, the number of Bitcoin ATMs or crypto ATMs has significantly dropped this year.
According to data presented by BitcoinCasinos.com, more than 5,300 Bitcoin ATMs have been removed year-to-date, with their total number falling to around 33,800 worldwide.
“Although the crypto market is recovering from brutal 2022, Bitcoin ATMs are losing popularity. For years, their number continuously grew, with thousands of new crypto ATMs installed each month,” BitcoinCasinos.com stated.
The company cited CoinATMRadar data that showed the number nearly quadrupled between January 2018 and mid-2020, jumping to 8,145 from 2,078. Statistics show 2020 saw 7,700 new crypto ATMs, almost three times more than the year before. However, the figures exploded in 2021, the report stated.
By January 2022, there were over 34,400 Bitcoin ATMs worldwide, with 20,300 installed in 2021 alone. Statistics show this figure swelled to 39,186 by the end of the year, the highest number to date, the report added.
‘Downhill from There’
“Still, it was downhill from there. The CoinATMRadar data show more than 1,500 ATMs supporting digital coins were removed in January, while their number dropped by another 271 the following month,” BitcoinCasinos added. “Still, March saw the biggest drop, with the number of Bitcoin ATMs falling by 3,600 that month alone.”
“Although 121 new Bitcoin ATMs were installed in the first ten days of April, with their total number reaching 33,830, this still represents almost a 15% drop compared to December figures,” the report added.
According to the analysis, although the United States still has the highest number of crypto ATMs, most of the removed Bitcoin ATMs were in the US market. According to CoinATMRadar data, U.S. citizens could use over 28,900 crypto ATMs as of this week, down from 34,200 in November last year.
Nevertheless, the United States still has almost 20 times more crypto ATMs than Europe, which counts close to 1,456 of these machines as of this week, the report added.
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