Bitcoin ATMs Growth Surges Dramatically for the First Time in 2023
The total number of Bitcoin ATMs around the world has risen for the first time to its highest level since the start of 2023. The noteworthy increase in the quantity of Bitcoin ATM units is said to have reached as high as 35K active machines.
The data projections are provided and confirmed by Coin ATM Radar. During March, the total number of active Bitcoin ATMs had dropped to 34K machines. However, the recent metrics suggest that the number has surged to a total of 35,069.
Meanwhile, in April, Bitcoin ATMs dropped to two year low as per Coin ATM Radar data. During the previous month, the total number of active Bitcoin ATMs was recorded as low as 33, 389 machines. Meanwhile, last year in December the total number of active Bitcoin teller machines was as high as 39K units.
The decrease in the total number of Bitcoin transaction units is attributed to the price inflation of the flagship cryptocurrency. The comparative data indicates that in March around 3600 Bitcoin ATMs were taken out of commission.
Bitcoin ATMs are reportedly moving in a downward graph in terms of their quantity according to data projections shared by Coin ATM Radar. However, the situation seems to be improving in May 2023, when the total number of Bitcoin ATMs increased by 1400.
The same positive trend has continued in June with the addition of 278 ATMs in the first week of June. Bitcoin ATMs are synonymous with Bitcoin trading in exchange for fiat currency or card payments.
They operate much like regular ATMs but the users have the option to create new Bitcoin wallets to sell, purchase, and manage their Bitcoin reserves on the go.
There are many applications dedicated to finding the nearest Bitcoin ATMs installations. At the same time, Bitcoin ATMs are often free from the hassles of completing the KYC compliance that ensure greater financial privacy for its users.
In terms of the global distribution of Bitcoin ATMs, the United States currently has the largest amount of Bitcoin ATMs with 30K units installed as of 2023. It makes up for around 85% of the total crypto ATM installations in the world.
Bitcoin ATMs Offer Seamless Transactions and Trading Options
As per Coin ATM Radar, Canada has the second largest number of Bitcoin ATMs with a total of 2745 working units. Meanwhile, the ATM locater and statistics service has maintained that most other regions including Asia account for an ATM count of fewer than 1000 units. Europe is the third largest ATM host in the world with 1400 units through the EU.
Spain has around 286 ATMs while the UK holds around 16 ATMs. El Salvador, a Central American nation, that has adopted Bitcoin as a legal tender has around 212 Bitcoin ATMs. Other Latin American nations’ data shows Mexico at 52, Colombia at 37, and Puerto Rico at 32 machines. On the Asian front, blockchain-savvy Hong Kong currently has 148 Bitcoin ATMs.
Meanwhile, Japan only hosts 3 ATMs regardless of its Bitcoin-favoring regulatory environment. However, Africa has remained the most conservative in terms of Bitcoin ATM installations with around 17 units planned in South Africa and Nigeria accounting for 2 Bitcoin ATMs in total. At press time, Bitcoin is fairing for $26k maintaining sideways price movement since last week.
