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Top cryptocurrency news: Number of Bitcoin ATMs globally approaches 40,000 despite unstable markets

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As cryptocurrencies gain popularity throughout the world, the number of installed cryptocurrency ATMs is gradually approaching the 40,000 mark.

According to data from sources, as of August 8, 2022, 614 operators have installed 39,008 crypto ATMs across 77 nations.

Despite a slowdown between the first and second quarter of 2022, when the number of new crypto ATM installations fell by 32.26 percent, from 2,362 to 1,600 machines, the third quarter of 2022 indicates a more optimistic trend.

Notably, the rising trend began in January 2017, when the statistics were approaching 1,000 machines. It had a significant increase beginning in September 2020, with less than 10,000 machines globally, and it continues until today.

There are now over 39k crypto ATMs globally

Since the beginning of January 2017, when there were around 969 worldwide crypto ATMs, the number of installations has increased by 3,925 percent. North America remained ahead of the curve, with 37,074 machines, accounting for 95 percent of all crypto ATMs globally. Around 3.8 percent of all crypto ATMs in operation now are in Europe, with the remaining 1.1 percent encompassing other continents.

Of the total of 39,008 crypto ATMs, 38,996 are supporting Bitcoin (BTC), and 33,051 accept different cryptocurrencies.

What the future holds for crypto ATMs

After reaching an all-time high in the first half of 2021, Bitcoin (BTC) lost more than half of its value in 2022.

Despite that, crypto ATM installations surged in 2021, owing to the market's growing value, which continued throughout the first half of 2022 and beyond.

In November 2021, the Federal Bureau of Investigation (FBI) issued a warning about internet fraudsters who use crypto ATMs and QR codes to deceive their unwary victims. Furthermore, in March 2022, the British Financial Conduct Authority (FCA) ordered that all crypto ATMs within the UK be shut down or face additional legal action.

In spite of this, with numbers expected to reach 40,000 in the coming months, the future of crypto ATMs across the world appears to be gaining speed after staying unfazed by a challenging 2022.

Read also: Top cryptocurrency news: Hodlnaut, a cryptocurrency lending platform, stops operations because of a liquidity issue

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