May Sees a Record 1400 Bitcoin ATM Installations Ending 4 month Downtrend
The month of May saw 1400 Bitcoin/cryptocurrency ATMs installed worldwide, ending what was a 4 month downtrend for 2023
Net Bitcoin ATMs record an increase after 4 months of global downtrend
“in the first four months of 2023, the net crypto ATMs worldwide declined by 5,850. In May, however, 1,397 machines were added back to the global crypto ATM network, confirming data from Coin ATM Radar.
While Bitcoin ATMs do not contribute to the growth of the Bitcoin network, it serves as a physical gateway for people to exchange their fiat currencies for crypto. In 2023 alone, Australia installed a total of 233 ATMs, climbing up the ranks to become the third-largest crypto ATM hub in the world. Despite a poor year-long reduction, the United States maintains a leading position — representing 84.7% of crypto ATMs worldwide, followed by Canada at 7.6%.
At the time of writing, 35,069 ATMs remain operational worldwide.”
