The global number of cryptocurrency ATMs has seen a remarkable resurgence, edging closer to the historical peak recorded in December 2022. Data from Coin ATM Radar reveals that there are currently 38,279 crypto ATMs in operation worldwide, just shy of the previous record of 39,541.
This significant increase, adding almost 6,000 ATMs in the last 11 months, is largely attributed to the rebounding crypto market. The machines are now available in 72 countries and are manufactured by 43 different companies.
The upward trend contrasts sharply with the decline observed during the bear market from late 2022 to July 2023, which saw the number of crypto ATMs drop below 33,000. However, this year has witnessed a remarkable turnaround, with 2,564 ATMs added so far, offsetting the loss of 2,861 machines in 2023.
The United States leads the way with 31,916 crypto ATMs, followed by Canada with 3,024 and Australia with 1,107. Australia's rapid growth suggests it may soon surpass Europe's 1,584 ATMs. Notably, El Salvador, the first country to adopt Bitcoin as legal tender, boasts 215 crypto ATM locations.
This surge in crypto ATM installations reflects the growing mainstream adoption of cryptocurrencies and the increasing demand for convenient access to digital assets. As the crypto market continues to mature, it is expected that the number of crypto ATMs will continue to rise, potentially surpassing the previous record in the near future.
July 2024, Cryptoniteuae