The global number of crypto ATMs has surged by 17.8% over the past year, reaching a total of 38,279, approaching the peak of 39,541 in December 2022. Coin ATM Radar reports that 2,564 new crypto ATMs were installed by 2024, indicating a positive trend following the net loss of 2,861 machines in 2023.
Why Did ATM Installations Rise?
Crypto ATM installations saw consistent growth every month from July 2023 to May 2024. Although there was a brief dip in installations by 115 units from May to June, June witnessed a robust recovery with a net increase of 377 ATMs.
Leading operators in the crypto ATM market include Bitcoin Depot, Coinflip, and Athena Bitcoin, which boast 7,543, 5,057, and 2,756 machines, respectively. Bitcoin remains the most prevalent cryptocurrency used in these transactions, with Bitcoin Cash, Ethereum, and Litecoin also capturing significant usage.
Which Countries Lead in Crypto ATMs?
The United States dominates the crypto ATM landscape, housing over 82% of the world’s machines. Canada follows with a 7.7% share, while Australia has witnessed a dramatic rise in installations, increasing approximately 17-fold to 1,107 ATMs over two years. At the current rate, Australia is on track to surpass Europe’s 1,584 ATMs.
Key Insights
– Bitcoin Depot leads with 7,543 machines.
– Australia has seen a 17-fold increase in crypto ATMs over two years.
– The U.S. holds 82% of global crypto ATMs.
– Installations rose by 377 units in June 2024.
Other notable countries featuring significant numbers of crypto ATMs include Spain (313), Poland (279), El Salvador (215), and Germany (177). Additionally, Romania, Georgia, Switzerland, Austria, and New Zealand each have over 100 machines. Overall, crypto ATMs are present in 72 out of the 193 countries recognized by the United Nations.
Between December 2022 and July 2023, installations plummeted to an 18-month low of 32,764, largely due to a 26% drop in net installations by manufacturer BitAccess. However, the trend has since reversed, with a net installation increase of 1,208 units.