Resurgence in Cryptocurrency ATMs Installation Observed in July 2023.

Remarkable Growth of Cryptocurrency ATMs Worldwide Since 2013, with United States Leading the Way

Since the first Bitcoin ATM was installed in Vancouver back in 2013, the global presence of Bitcoin and cryptocurrency ATMs has experienced a staggering expansion, and a significant number of these ATMs can be found in the United States.

The year 2014 witnessed a substantial surge in ATM installations across the US, solidifying it as the primary market for these devices. This surge can be attributed to the increasing popularity of digital currencies and the escalating demand for decentralized financial solutions.

Cryptocurrency ATMs provide users with a straightforward and convenient method to purchase and sell digital assets. Essentially, these self-service machines allow individuals to conduct cryptocurrency transactions using cash or credit/debit cards.

To use a cryptocurrency ATM, users need to first create a digital wallet or scan the QR code of an existing one. They then follow the prompts to choose their desired transaction type (buy or sell), enter the amount, and complete the payment. The ATM will either transfer the corresponding amount of cryptocurrency to their wallet or dispense cash equivalent to the value of the sold digital asset.

As of the end of July, the global net growth of cryptocurrency ATMs has shown signs of recovery after a previous decline. Between January and April 2023, a total of 5,726 machines were reported to have been decommissioned. However, May saw a recovery with 1,692 new installations.

In June, an additional 590 cryptocurrency ATMs were installed, and in July, another 412 emerged. Presently, there are approximately 36,205 machines installed worldwide. Prior to this year’s decline, the total number of machines reached a peak at 39,296 devices in August 2022.

Around 84.7% (30,653 machines) of the total ATMs are located in the United States, and 93.1% (33,722 units) are situated in North America. Europe accounts for 4% of the devices, and Australia and Oceania have around 1.6%.

As of July 2023, the leading operators of cryptocurrency ATMs are Bitcoin Depot (6,379), Coincloud (4,264), Coinflip (4,012), Bitstop (2,713), Rockitcoin (2,008), Coinhub (1,421), Athena Bitcoin (1,338), Bytefederal (975), Localcoin (901), and Cash2bitcoin (778).