Bitcoin ATMs See Uptick in Global Installations After 4 Months of Decline
May 2023 saw a steep increase in net installations of Bitcoin and crypto ATMs across the globe,interrupting a four-month decline witnessed in the market. The increase was largely driven by the growing adoption of cryptocurrencies and the rising demand for more accessible and convenient methods to buy and sell digital assets.
According to Coin ATM Radar, the number of crypto ATMs installed globally reached an all-time high of 20,000 units in May 2023, reflecting a significant increase from the 16,500 units reported at the end of December 2022.
The United States continues to lead the way, with over 14,000 Bitcoin ATMs installed across the country. Canada follows closely behind, with nearly 1,700 ATMs installed. Other countries such as the United Kingdom, Austria, Spain, and Switzerland have also recorded impressive growth in the number of crypto ATMs.
The growing popularity of crypto ATMs can be attributed to several factors, including the increased ease of use, low transaction fees, and their ability to cater to people who may not have access to traditional banking services. Additionally, the anonymity provided by these ATMs has made them quite popular among users who prefer to keep their identities private when buying or selling cryptocurrencies.
In conclusion, the surge in the number of crypto ATMs globally suggests that the adoption of cryptocurrencies is gaining momentum, and investors are looking for more opportunities to invest in digital assets. As cryptocurrencies become more mainstream, we can expect to see even more significant growth in the number of crypto ATMs worldwide.