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Global Bitcoin ATMs Installation Drops For The First Time

As per sources data, the total number of Bitcoin ATMs installed over time fell to 37,980 in September from an ATH of 38,776 ATMs in August.


01 Oct 2022 By : COIN GABBAR
Global Bitcoin ATMs

The domino effect of a prolonged bear market entered the Bitcoin (BTC) ATM ecosystem in September 2022, when worldwide net installations registered negative growth for the first time in history.

According to sources data, the total number of Bitcoin ATMs installed over time fell to 37,980 in September from an all-time high of 38,776 ATMs in August, resulting in a 2.05% drop.

Data on net changes in crypto ATM installations reveal that 796 crypto ATMs were removed from the worldwide network in September. The United States alone had witnessed a drop of 825 ATMs. However, Europe, Canada, and a few other jurisdictions eased the blow with additional local installations.

Despite the setback, data from the last 60 days indicate that almost 14 crypto ATMs are installed globally every day, with Genesis Coin accounting for 40.3% of ATMs among other manufacturers. General Bytes and BitAccess are two more well-known crypto ATM manufacturers.

The sudden fall in crypto ATM installations can be ascribed to geopolitical concerns, as well as a lack of legislative clarity and market uncertainty.

Although crypto ATM installations have suffered a short blow owing to external circumstances, governments continue to voice interest in having functional crypto ATMs within their borders.

Recently, Japan agreed to reintroduce cryptocurrency ATMs after 2014, led by local cryptocurrency exchange GaiaCo. Initially, new ATMs will be installed across Tokyo and Osaka. By August 2023, the company intends to open 50 BTMs around the country.

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