Coin Edition -
- Worldwide, crypto ATM installations are declining according to Coin ATM Radar.
- Global crypto ATM count has plummeted by 14.45% in a year, with 5,730 devices removed.
- Bitcoin ATMs have seen a decline of over 11%, marking a severe dip.
The latest insights from Coin ATM Radar unveiled that the total number of crypto ATMs has declined by 14.56% in a year, marking the first dip since 2013. Reportedly, around 5,730 crypto ATMs were deactivated in 2023, as the global crypto machine count fell from 39,350 to 33,620 in one year.
Source: Coin ATM Radar
Since the inception of Coin ATM Radar in 2013, crypto ATMs have been evolving rapidly to reach an all-time high number of crypto ATMs in August 2022. While the total number of crypto machines stood at 39,376 in August, the number eventually began to drop.
2023 began with a setback as the first four months of the year witnessed continuous deactivation of crypto ATMs with no upticks. In January, almost 1,523 devices were removed, and the following month saw the elimination of 210 machines.
There was a massive increase in deactivated machines in March, with 3,555 ATMs decommissioned. Despite 340 machines uninstalled in April, May experienced an uptick with 1,711 ATMs installed. Though June also witnessed the implantation of 857 devices, the succeeding month saw a severe loss of 4,218 ATMs, marking the highest loss ever.
Notably, the United States saw the biggest dip in crypto ATMs, with a 15.4% drop in 2023. Despite a yearly fall from 32.672 to 27,631 devices, the United States holds 82% of the world’s total crypto-automated teller machines.
The report also sheds light on the massive decline of Bitcoin ATMs worldwide. Contradictory to the usual trend of a surge at the beginning of the year, the Bitcoin ATM count plummeted by more than 11%.
The post Global Crypto ATMs Plummet Marking a Historic Loss: Report appeared first on Coin Edition.