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Bitcoin ATMs Increase

The number of crypto ATMs around the world continues to increase. Accepting Bitcoin as its legal currency, El Salvador has lost its current position with the number of crypto ATMs. Finally, Australia surpassed the Asian continent in terms of the total number of crypto ATMs installed. In the first four months of 2023, net crypto ATMs worldwide decreased by 5,850. But in May, 1,397 machines were added to the global crypto ATM network.

The total number of crypto ATMs witnessed a consistent decline in the first four months of 2023. During this time, major economies including the United States and Europe contributed to the declining numbers, while Australia, Poland and Spain increased their crypto ATM installations in their respective countries.

It shows that in the first four months of 2023, net crypto ATMs worldwide decreased by 5,850. But in May, data from Coin ATM Radar confirmed that 1,397 machines have been added back to the global crypto ATM network. While Bitcoin ATMs do not contribute to the growth of the Bitcoin network, they act as a physical gateway for people to exchange fiat currencies for crypto. In 2023 alone, Australia installed a total of 233 ATMs, making it the third largest crypto ATM hub in the world. Despite a weak one-year decline, the US remains the leader, representing 84.7 percent of the world’s crypto ATMs, followed by Canada with 7.6 percent.

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