Study: 6,100 Crypto ATMs Installed in 2022, 3x Less than Previous Year – Featured Bitcoin News

New data showed that up to 6,100 crypto and bitcoin ATMs were installed in the first eleven months of 2022. The latest figure is about three times less than the ATMs installed in 2021. The data shows that states United States, which has over 34,000 crypto ATMs, accounts for almost 90% of all installed machines.

Fewer ATMs installed in 2022

According to data compiled by Crypto Presales, the roughly 6,100 crypto and bitcoin automated banking machines (ATMs) installed in the first eleven months of 2022 are almost three times fewer than what was installed in the same period last year. . The apparent slowdown in the number of newly installed ATMs contrasts with the rapid increase in the number of new installations seen in 2021.

As explained in Crypto presales report, 2021 saw the highest number of crypto and bitcoin ATM installations by far – around 20,300 newly installed machines. The record number of new installations that year brought the total number of such ATMs to 32,600.

In contrast, the year 2022, which was dominated by bears and the collapse of Terra LUNA and UST (and more recently the collapse of FTX), saw the number of installed ATMs drop for the first time. The report explained:

As of mid-2022, there were approximately 37,800 crypto ATMs globally. The number continued to rise and reached over 38,800 in August. However, in September, the number of BTMs fell for the first time, with the total number of machines slipping to 38,400.

The report nevertheless revealed that the number of ATMs installed has since recovered and was thought to have hovered around 39,000 by mid-November 2022.

The United States dominates the roost

Meanwhile, data compiled by Crypto Presales shows that the United States accounts for around 90% of all installed crypto and bitcoin ATMs in 2022. According to the data, the 2,688 installed ATMs in Canada rank second in the list of the top ten countries with the most crypto-vending machines. The other countries in the top 10 have fewer than 300 ATMs installed.

Regarding ATM ownership, the report states:

“With a 33% market share and over 12,000 machines as of November, Bitaccess represents the largest crypto ATM maker in the world. General Bytes ranked second with a market share of 23% and around 9,000 BTM. Genesis Coin and Bitstop follow with 22% and 5% market share respectively. »

The report, which draws on data from Coin ATM Radar, noted that 82% of all installed machines support altcoins. Around 80% of ATMs support Litecoin, 73% support Ethereum, and only 39% support Dogecoin.

Keywords in this story

BitAccess, Bitcoin vending machine, bit stop, Crypto ATM, dogcoin, ETH, ftx, General bytes, genesis piece, Litecoin, Terra LUNA and UST

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Terence Zimwara

Terence Zimwara is an award-winning journalist, author and writer in Zimbabwe. He has written extensively on the economic issues of some African countries as well as how digital currencies can provide an escape route for Africans.

Image credits: Shutterstock, Pixabay, Wiki Commons

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