US With Highest Number of Closed Bitcoin ATMs in Negative Growth Year – Bitcoin News
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The number of ATMs supporting digital currencies has fallen around the world during a tumultuous year for the industry as a whole. According to a new report, the United States has lost more crypto banking machines than any other country, while Australia tops the list in terms of new installations.
2022 will end with fewer crypto machines worldwide, the US will remove nearly 200 devices
The number of automated teller machines (ATMs) that allow users to buy cryptocurrencies or exchange coins for fiat has decreased over the past year. According to data collected by Coin ATM Radar, the period started with 38,691 and ended with 38,603 bitcoin ATMs, a negative increase of 88 units or -0.2 percent. The tracking site highlighted:
This is the first time we have seen a negative number of Bitcoin ATMs.
The figures come from Radar’s Bitcoin ATM Market Dynamics report for December 2022. The study shows that the US remains the clear leader in terms of active ATMs with 33,941 locations out of 38,608 worldwide. However, the country has also removed the most crypto machines last year – 188, or 0.6%.
“When we look at the list of the most active countries, the first thing we notice is that the usually dominant United States ranks last,” the authors note. Meanwhile, Australia has topped the list with 50 new installations, an increase of almost 30 percent.
Canada, where 16 new BATMs have been installed, is next with a positive increase of 0.6%, bringing its total to 2,558. It is followed by Hong Kong, which had nine more planes at the end of 2022 than at the beginning of the year, a 6.8% increase to a new all-time high of 142 in China’s SAR.
The only EU country in the top five, Germany, added eight bitcoin ATMs to 89 in 2021. Mexico has the largest increase in Latin America (17.1%), from 35 to 41. They are followed by about a dozen European countries with positive statistics, but the Old Continent is still far behind North America in overall numbers.
Among other findings of the study, it is worth noting that the percentage of bitcoin ATMs that support cryptocurrencies other than BTC has increased during the review period and currently stands at nearly 68%. With 11 additions (0.18% increase), dash was the most added coin in December.
General Bytes, Genesis Coin and Freedom Gateway are still the most active crypto ATM manufacturers. General Bytes had 222 devices installed during the review period. Coinhub, Coinflip Bitcoin ATMs, Olliv and Coin Time were among the operators that saw a significant increase in the number of machines they managed.
Do you think 2023 will bring a change in bitcoin ATM market dynamics? Share your expectations in the comments section below.
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