Crypto ATM Numbers Drop by 13.91% Since December 2022, Over 3,600 Went Offline in March
According to data from the cryptocurrency automated teller machine (ATM) aggregation website Coin ATM Radar, over 3,600 crypto ATMs went offline in March. Since the end of 2022, the number of crypto ATMs has declined by 13.91% in the last three months. Crypto ATM Numbers Decline in 2023
According to data from Coin ATM Radar, the number of crypto ATMs worldwide has decreased by 13.91% since December 2022. At that time, 39,179 crypto ATMs were installed globally.
In January, 1,587 crypto ATMs went offline, marking the second time a large number of machines had gone offline since the loss of 399 crypto ATMs in September 2022. In February 2023, the decline in crypto ATMs was less drastic than in January and fewer than the drawdown in September. Coin ATM Radar data on net changes on April 1, 2023.
A total of 275 cryptocurrency ATMs went offline in February. The largest decline was recorded in March, according to Coin ATM Radar statistics, which indicated a drop of 3,627 crypto ATMs. Coin ATM Radar data on installation growth on April 1, 2023.
The loss in March coincided with the recent General Bytes hack that occurred on March 17 and 18, which resulted in the theft of more than $1.5 million in crypto. According to statistics on April 1, 2023, there’s currently 33,728 crypto ATMs installed worldwide. Coin ATM Radar data on manufacturing growth on April 1, 2023.
General Bytes machines account for 28.5% of all machines globally, and devices manufactured by Bitaccess represent 20.2% of the market share. Genesis Coin ATMs represent 17% of the machines worldwide, while Coincloud devices account for 12.7%.
As of Saturday, April 1, 2023, the United States has the highest number of crypto ATMs worldwide, followed by Canada, Australia, and Spain. More than 28,000 crypto ATMs are located in the United States, while Canada hosts over 2,600.
Looking at the data on crypto ATM manufacturing growth, Bitaccess experienced a decline, while General Bytes’ growth is on the rise. Genesis Coin also saw a decline, but it was much less than Bitaccess’s drop between February and March. Tags in this story Australia, Automated Teller Machine, BitAccess, Bitcoin ATMs, Blockchain, Canada, Coin ATM radar, Coinatmradar.com, coincloud, Crypto ATM, crypto ATM industry, Crypto ATMs, Cryptocurrency, data aggregation, decline, Digital Currency, drawdown, General Bytes, genesis coin, Global, growth, Hack, loss, Manufacturing, Market Share, metrics, Offline, Security, Spain, Statistics, Stats, Theft, United States, Virtual Currency
What do you think the future holds for the crypto ATM industry? Will we see a rebound in numbers or a continued decline? Share your thoughts in the comments section below. Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today. FTX EU Launches New Website for Withdrawals as Subsidiary Starts Returning Funds to Customers NEWS | 13 hours ago US Government Plans to Sell Over 41,000 Bitcoins Confiscated from Silk Road Hacker NEWS | 15 hours ago
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