The number of Bitcoin ATMs dropped massively in the past month
Ever since the first Bitcoin ATM was successfully launched in October 2013, there have been more than 30,000 new cryptocurrency machines installed worldwide. Indeed, over the last decade, the number of machines has generally grown most of the time.
The global adoption of bitcoin has skyrocketed since its launch, but in recent times, the number of physical ATMs seems to be moving in the opposite direction, with 3,627 machines removed in March 2023 alone. This marks the largest monthly decline of crypto ATMs since their first appearance in 2013.
Taking into account the crypto winter of the past couple of years, the number of crypto ATMs installed around the world has been in decline since late 2022, as shown in the following chart from Coin ATM Radar. The total number was close to 40,000, which would have been the highest so far, but that number has now dropped to 33,000 as of March 2023.
General Bytes, alongside BitAccess and Genesis Coin, are the current market leaders in physical crypto ATM manufacturers. Their aim now is to stop the downtrend of previous months and encourage the adoption of bitcoin through ATM usage even further.
Sources: cointelegraph.com, en.cryptonomist.ch
analyst opinion
Diego Kebork
Ever since the first Bitcoin ATM was successfully launched in October 2013, there have been more than 30,000 new cryptocurrency machines installed worldwide. Indeed, over the last decade, the number of machines has generally grown most of the time.
The global adoption of bitcoin has skyrocketed since its launch, but in recent times, the number of physical ATMs seems to be moving in the opposite direction, with 3,627 machines removed in March 2023 alone. This marks the largest monthly decline of crypto ATMs since their first appearance in 2013.
Taking into account the crypto winter of the past couple of years, the number of crypto ATMs installed around the world has been in decline since late 2022, as shown in the following chart from Coin ATM Radar. The total number was close to 40,000, which would have been the highest so far, but that number has now dropped to 33,000 as of March 2023.
General Bytes, alongside BitAccess and Genesis Coin, are the current market leaders in physical crypto ATM manufacturers. Their aim now is to stop the downtrend of previous months and encourage the adoption of bitcoin through ATM usage even further.
Sources: cointelegraph.com, en.cryptonomist.ch
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