Bitcoin ATM Growth Drops Amid Market Slump, Nearly 800 BTC ATMs Pulled Off Global Network

Bitcoin ATM Growth Drops Amid Market Slowdown, Nearly 800 BTC ATMs Pulled Out of Global Network

Around August this year, the number of bitcoin ATMs operating around the world was at an all-time high of 38,776 machines. According to data from CoinATMRadar, the number of these machines dropped significantly in the last month. About 800 ATMs were removed from the global crypto network in September. The total number of BTC ATMs stood at 37,980, down from its all-time high in September. The development comes just three months after CoinATMRadar revealed that the installation of BTC ATMs had picked up steam around the world.

The lack of regulatory clarity and the recent market slowdown are being seen as the top factors hindering the growth of BTC ATMs.

During September, the overall crypto market fell below the trillion-dollar valuation mark due to a rise in interest rates in the United States, as well as scams and cybercrimes, which left the crypto sector on a low risk appetite.

Around June this year, 23 crypto ATMs were being installed everyday around the world. This figure has dropped in the last sixty days.

According to coin atm radarOn an average 14 crypto ATMs are being installed daily in different parts of the world.

Europe and Canada, in particular, are making efforts to provide these machines to crypto users which allows them to buy bitcoins in exchange for fiat currencies in real time.

looking for japan web3 world And recently decided to support BTC ATM in the country.
Japanese crypto exchange Gaia Co. has taken the responsibility of setting up at least 50 BTC ATMs in Tokyo and other parts of Japan by August 2023, a report good As stated by CoinTelegraph.

For now, the US has the largest number of BTC ATMs, accounting for 87.9 percent of its global network. There are currently about 33,000 crypto ATMs in the US.

As of now, popular companies providing crypto ATM services include Genesis Coin, General Byte, BitApp, Coinsource and Bitstop.

Affiliate links may be generated automatically – see our ethical statement for details.


Please enter your comment!
Please enter your name here