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Crypto ATM Installations Approach Record High

The global landscape of cryptocurrency ATMs has experienced a robust expansion, growing by 17.8% over the past twelve months to a total of 38,279 installations, closely approaching the record high set in December 2022 at 39,541 units. This surge marks a significant turnaround from the previous year, which saw a net loss of 2,861 machines according to Coin ATM Radar.

Crypto ATM Installations Approach Record High

From July 2023 to May 2024, the number of installations consistently increased month over month. While there was a slight dip of 115 installations from May to June, the trend swiftly rebounded in June with a strong net increase of 377 ATMs.

Leading the charge in the cryptocurrency ATM market are operators like Bitcoin Depot, Coinflip, and Athena Bitcoin, collectively managing 7,543, 5,057, and 2,756 machines respectively. The United States dominates the global landscape with over 82% of the world's cryptocurrency ATMs, followed by Canada at 7.7%.

Australia has emerged as a significant player with a remarkable surge in installations, growing nearly 17-fold to 1,107 machines over the past two years. At this pace, Australia is well-positioned to surpass Europe's count of 1,584 ATMs in the near future.

Other countries showing notable growth in cryptocurrency ATM installations include Spain (313), Poland (279), El Salvador (215), Germany (177), and Hong Kong (169). Countries like Romania, Georgia, Switzerland, Austria, and New Zealand also boast over 100 ATMs each.

Despite a previous decline in installations between December 2022 and July 2023, reaching a low of 32,764, the market has since rebounded. Coin ATM Radar data indicates that BitAccess, a prominent manufacturer, contributed to the decline with a net decrease in installations. However, the company has since reversed this trend, increasing net installations by 1,208 units as of January 2024.

With cryptocurrency ATMs now present in 72 out of 193 United Nations-recognized countries worldwide, the sector continues to expand its global footprint. This growth underscores the increasing adoption and integration of cryptocurrencies into everyday financial transactions across diverse global markets.


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