Number of Bitcoin ATMs Approaches 40,000

The number of Bitcoin ATMs continues to increase around the world. The number of these ATMs approached 40,00

As the popularity of cryptocurrencies continues to rise worldwide, the growth rate of global cryptocurrency ATMs is slowly reaching 40,000. Considering the data obtained, according to Coin ATM Radar data on August 8, 2022, a total of 614 operators had 39,008 crypto ATMs in 77 countries. In the third quarter of 2022, the number of new crypto ATM installations dropped from 2,362 to 1,600 machines. However, despite the slowdown between the first and second quarters, it shows a more positive trend.

Bitcoin ATMs and their popularity

 Notably, this upward trend started in January 2017, when the numbers were moving towards 1,000 machines. As of September 2020, it has seen a real increase with slightly less than 10,000 machines worldwide. However, this increase continues to date. There are currently over 39,000 crypto ATMs worldwide. As of the beginning of January 2017, when there were more than 969 global crypto ATMs, the number of installations increased by 3,925%. North America tops the list with 37,074 ATMs, with 95% of all crypto ATMs worldwide. About 3.8% of the global percentage of crypto ATMs operating today is in Europe, while 1.1% covers other continents. Out of a total of 39,008 crypto ATMs, 38,996 support Bitcoin (BTC), while 33,051 accept various altcoins.

Bitcoin (BTC), which hit an all-time high in the first half of 2021, has lost more than 50% of its value in 2022. Despite this, crypto ATM installations accelerated in 2021 as the rising value of the market took action, which continued in the first half of 2022 and beyond. In November 2021, crimes of defrauding users at crypto ATMs increased. The Federal Bureau of Investigation (FBI) has issued a warning against online scammers making use of QR codes. Also, in March 2022, the British Financial Conduct Authority (FCA) ordered all crypto ATMs to be shut down within the country or face further legal action. Even so, approaching the 40,000 mark, the future of crypto ATMs worldwide seems to be picking up momentum after a tough 2022 standoff.

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