New Year, New Numbers Exploring the 11%Decrease in Bitcoin ATMs Installed Worldwide

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Bitcoin ATM installations

The installation of Bitcoin ATMs saw a decline for the first time this past decade. According to Coin ATM Radar, there was an 11% reduction in the total number of Bitcoin ATMs installed globally. On January 1, 2023 the world witnessed 37,827 machines, however on the same date in 2024, this figure had dropped to 33,622 ATMs.

The United States played a significant role in this reduction, representing 82% of all Bitcoin ATMs worldwide. In the US, the numbers fell from 32,672 ATMs at the beginning of 2023 to 27,621 ATMs at the start of 2024. Judging from the statistics kept by Coin ATM Radar, this is the initial time the installed Bitcoin ATMs in the US has decreased year-over-year.

While overall global and American figures decreased, the trend remained positive in some regions. Within the European Union, on January 1, 2024 there existed 1,548 crypto ATMs, precisely 10 machines more than the 1,538 installed on the same date in 2023. Additionally, the number of Bitcoin ATMs grew in Canada, Australia, Spain and Poland. Switzerland saw a notable fall in machines.

Industry Leaders and Future Outlook in the Evolving Cryptocurrency ATM Landscape

Bitcoin ATMs Decrease Worldwide

In the evolving landscape of cryptocurrency ATMs, certain regions are experiencing a surge in Bitcoin adoption. Argentinian and Salvadoran users now have access to Lightning Network-enabled machines. The all-time high for worldwide Bitcoin ATM installation occurred in August 2022 with 39,376 machines installed according to Coin ATM Radar.

Considering operators, Bitcoin Depot currently dominates as the premier company. Information from Coin ATM Radar reveals Bitcoin Depot operates 6,311 Bitcoin ATMs, well ahead of second largest CoinFlip’s 3,880 machines. Regarding manufacturers, General Bytes leads with 10,844 ATMs for a 32.3% market share, ahead of Genesis Coin and its 7,683 machines holding a 22.9% share.

While ATM installation dipped across most of the globe this past year, robust growth in particular locations and companies within the Bitcoin ATM sector showcased its continued development. In the future, into 2024, whether cryptocurrency ATMs re-engage on an expansionary path remains to be observed based on worldwide cryptocurrency adoption rates and investment outlook.

To navigate through regional instability, it is imperative that all involved parties—suppliers, installers, and government entities—collaborate to establish a fair and enduring structure that will steer expansion. By addressing challenges while developing new opportunities, the sector hopes to recapture rising trends characteristic of the past decade in the evolving digital currency landscape.

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Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
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