The world of digital currency has experienced a tumultuous financial year, with the number of ATMs that support cryptocurrencies dropping in the past 12 months. According to a new report, the US has lost more machines with crypto services than any other nation, while Australia leads the list in terms of new installations.
Decrease in Crypto ATMs Across the Globe – US Sees Nearly 200 Machines Removed
As the year draws to a close, the number of ATMs that offer services for buying and selling digital currency has decreased significantly. According to data collected by Coin ATM Radar, the market began 2022 with 38,691 bitcoin ATMs, before ending with 38,603, representing a negative growth rate of 88 units, or -0.2%. The tracking site commented:
This is the first time we have seen a negative number of Bitcoin ATM installations.
The figures are taken from Coin ATM Radar’s December 2022 Bitcoin ATM Market Dynamics report. The US still leads the way in terms of active ATMs, with 33,941 devices, out of a total global 38,608. Unfortunately, the nation also saw the largest decrease in the number of crypto ATMs, with 188 machines removed, which is 0.6%.
“When we take a look at the list of most active countries, the first thing we may notice is that the usually dominant United States is in last place,” the authors of the report noted. Australia, however, saw the most significant increase, with 50 new machines added, representing a rise of almost 30%.
Canada also saw positive growth in the number of ATMs, with 16 extra devices added, bringing the total to 2,558. In Hong Kong, nine more BATMs were installed, for a 6.8% increase to a record high of 142. China’s administrative speciality also saw a small rise.
The only EU country in the top five is Germany, which added eight more bitcoin ATMs, bringing the total to 89. Mexico is the fastest growing in Latin America, with a 17.1% rise in BATMs, from 35 to 41. A dozen other European nations also saw positive growth.
Other noteworthy findings in the report include the fact that bitcoin ATMs supporting cryptocurrencies other than BTC have increased over time, and now stands at 68%. Dash was the most popular added coin in December, with an extra 11 units, or 0.8%.
In terms of manufacturers, General Bytes, Genesis Coin and Freedom Gateway were the most active. General Bytes installed 222 devices during the review period, while Coinhub, Coinflip Bitcoin ATMs, Olliv and Coin Time Operators also saw significant increases in their number of machines.
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