After a period of decline at the start of the year, the Bitcoin (BTC) ATM industry experienced a major turnaround in May with the installation of nearly 1,400 new machines around the world. This remarkable increase represents growth of more than 4% in just one month, thus injecting new momentum and rekindling the enthusiasm around these ATMs.
A trend reversal
In the first four months of the year, the downward trend in the number of Bitcoin ATMs continued, particularly in the United States where installations saw a marked decline.
However, some countries have been exceptions to this trend, notably Australia and Spain. They recorded a significant increase in the number of Bitcon ATMs. According to a report by Coin ATM Radar published in January, Australia even climbed to the third position in the world with almost 364 machines.
According Coin ATM Radar the decline in the first quarter led to a nearly 15% decrease in the total number of bitcoin ATMs worldwide, estimated at 35,028 machines from the start of the year to the end of April.
However, May saw a remarkable increase, with nearly 1,400 new installs worldwide. This dramatic increase represents an increase of more than 4% in just one month.
The Rise of Bitcoin ATMs: The United States Still Tops the List
Bitcoin ATMs or BTC ATMs allow users a convenient and easy way to exchange their BTC for cash. The process is simple: users deposit money into the machine and request conversion into cryptocurrency.
Once the exchange is satisfactory, they can provide their wallet address or QR code. And the cryptocurrency is then sent directly to their digital wallet. This simple and convenient process helps popularize the use of Bitcoin.
The United States dominates the Bitcoin ATM landscape, despite a recent decline in the number of installs. Indeed, with nearly 85% of all ATMs worldwide, the country of Uncle Sam currently has 29,999 machines in operation.
Canada ranks second, accounting for nearly 8% of the global total with 2,739 ATMs. Finally, Australia ranks third with 462 ATMs, of which 233 have been installed since the start of 2023.
Since the historic launch of the very first Bitcoin ATM on October 29, 2013 in Vancouver, Canada, by the Robocoin company, this sector has seen a meteoric evolution. Today, this industry has more than 35,000 machines around the world. However, the geographical distribution remains uneven, with more than 85% of box offices concentrated solely in the United States.
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