Bitcoin ATM Installations. The number of Bitcoin ATM installations is coming closer and closer to the historical record, which is a topic of interest in the cryptocurrency industry. With a staggering 38,279 cryptocurrency automated teller machines (ATMs) installed, July 2024 is just a few steps away from breaking the record of 39,541 that was achieved in December 2022.
Bitcoin ATM Installations are Climbing Again, Approaching Historical Records
Coin ATM Radar data suggests that the number of Bitcoin ATM installations is moving back up the growth curve, rapidly approaching an all-time high. There will be as many as 38,279 cryptocurrency ATMs operational by the start of July 2024, putting it within striking distance of the previous high of 39,541 established in December 2022.
Just one year ago, in July 2023, the present boom resumed and has continued uninterrupted month after month. To be more precise, it represents an increase of 17.8% in the past year. Bitcoin ATM installations increased to 377 units last month, following a small decline of 115 units from May to June.
On the other hand, 2,564 new cryptocurrency ATMs have been built since January 2024, demonstrating a bull trend. If you want to know when Bitcoin ATMs are added, you can check the official X account of Coin ATM Radar. Australian firm General Bytes has launched its newest in the first half of the year; it will operate as a Local Bitcoin ATM and accept Bitcoin, Ethereum, Litecoin, and Dogecoin as payment.
Bitcoin ATM Rising to Record High, US Dominates Market
When we look at the map showing where Bitcoin ATMs are located, we see that 82% are in the US, followed by 7.7% in Canada and 4.1% in Europe. In contrast, Australia’s 1,109 Bitcoin ATMs put it in third position, passing Spain’s 313 installations, in the table of nations with the most installations. Next on the list of countries with substantial amounts of cryptocurrency ATMs are Germany (177), Hong Kong (169), El Salvador (215), Poland (211), and El Salvador.
Additional variables can be used to characterize the global trend of Bitcoin ATMs. With 7,543, 5,057, and 2,756 machines, respectively, Bitcoin Depot, Coinflip, and Athena Bitcoin appear to be the top operators of crypto ATMs. Alternatively, General Bytes, Genesis Coin, and BitAccess are the leading manufacturers of Bitcoin ATMs. Alternatively, if you were interested in seeing which cryptocurrencies are most widely accepted, Bitcoin would top the list with 38,267 crypto ATMs, followed by Litecoin with 20,124 and Ethereum with 19,943. Under the podium, Dogecoin, Bitcoin Cash, Tether, and USD Coin are the most popular cryptocurrencies in cryptocurrency ATMs.
The Recovery After the Decline of 2023
Since the “crypto winter” hit in early 2023, Bitcoin ATMs have been trending upwards in 2024, seemingly “recovering” from the downturn. The growth curve demonstrated a decline in continuous installations from January to April 2023, going completely countertrend, following the high of 39,541 installations in December 2022.
Three thousand six hundred twenty-five crypto ATMs went offline in March 2023 alone. However, there was a drop of 1,588 installations in January and 275 installations in February. With a decline of -4,124 installations, July 2023 was the worst month for Bitcoin ATMs. Good news surfaced again in the industry as early as August 2023.CoinFlip declared that its crypto ATM service now supports Ripple (XRP). Lastly, The approval of spot Bitcoin ETFs in January 2024 marked the beginning of the crypto bull run.
