- On Jan. 1, 2024, there were 33,628 Bitcoin ATMs worldwide, down from 37,827 a year ago
- The biggest decline came from the US
- ATM maker BitAccess contributed to the overall decline in installations
As we enter 2024, the number of Bitcoin ATMs installed is around 11% less than at the beginning of the previous year, going against a decade-long trend that has seen the number rise at the start of each year, Cointelegraph reported, citing data from Coin ATM Radar.
On Jan. 1 this year, there were 33,628 Bitcoin ATMs worldwide, down from 37,827 on Jan. 1, 2023. Over 2023, the net total number of Bitcoin ATMs both increased and dropped, ultimately falling by the year's end.
ATMs peaked at 40K in August 2022
Coin ATM Radar began to track crypto ATMs back in 2013. Over time, their number steadily increased each month, peaking at 39,376 in August 2022. Last year, the numbers began to drop.
Biggest drop came from US
The biggest decline came from the US, which has always had more crypto ATMs than any other country in the world. The count dropped from 32,672 to 27,631 there. The US still hosts more than four-fifths of all crypto ATMs worldwide, however.
Canada, Australia, Poland, and Spain are seeing their count steadily rise.
Data on ATM manufacturers
According to Coin ATM Radar data, ATM maker BitAccess potentially contributed to the overall decline in installations. It installed 26% fewer Bitcoin ATMs between August 2022 and Jan. 1, 2024. Genesis Coin and General Bytes, two other major manufacturers, installed more Bitcoin ATMs last year than in previous years.
Bitcoin Depot, a leading player in the crypto ATM space, was listed on the Nasdaq on July 3 last year and is undergoing major expansion in the US. Its revenue is up 3% year-on-year.
ATMs mainly support the flagship crypto
Crypto ATMs mainly support Bitcoin, followed by Ethereum, Bitcoin Cash, and Litecoin. There are other cryptos you can buy through them too, but those are the primary ones.
Contributors
