Tuesday, June 6, 2023

A website that keeps track of cryptocurrency ATMs, Coin ATM Radar, reports that over 3,600 crypto ATMs stopped working in March. From the end of 2022 to now, about 14% fewer crypto ATMs are working compared to three months ago.

5 Million Dollar Crypto Heist Highly Impacting Global Crypto ATM Market

Coin ATM Radar reported that the number of crypto ATMs around the world dropped by nearly 14% since December 2022. That year, there were more than 39,000 machines installed globally. In January 2023, 1,587 got deleted and this was the second time after 399 machines were taken away in September 2022. February’s decrease wasn’t as bad as January’s or even September’s.

At the start of April 2023, Coin ATM Radar reported that in February, 275 cryptocurrency ATMs had been taken off-line. The number was greatest in March when 3,627 crypto ATMs were deactivated according to data collected from the same radar.

In March, someone stole more than $1.5 million in crypto during the General Bytes attack. As of April 1, 2023 there were 33,728 crypto ATMs all over the world according to Coin ATM Radar’s data on manufacturing growth.

General Bytes make up 28.5% of the crypto ATMs around the world and Bitaccess machines account for about 20.2%. Genesis Coin ATMs are 17%, and Coincloud devices total 12.7%.

The US has the most crypto ATMs in the world on April 1, 2023 with over 28,000 machines, followed by Canada which has more than 2,600. Australia and Spain have a lot less ATMs but they’re still there.

We can look at the stats to find that Bitaccess had fewer machines being made compared to February, while General Bytes’ rate of production increased. Even though Genesis Coin also saw a small decrease it wasn’t as big as Bitaccess’s.

So what will be the future of crypto ATMs? Are they going to go back up or keep decreasing in numbers? Leave your ideas and opinions down below!


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