The recent data from Coin ATM Radar indicates a notable change in the crypto ATM landscape. In 2023, there was a reduction of 2,861 machines, bringing the total count to 38,279. The United States commands a substantial share of 82% of crypto ATMs, far exceeding Canada with only 7.7%. Despite the decline in machine numbers in 2023, a positive trend emerged in 2024 with the deployment of 2,564 new ATMs, signaling a potential recovery in the sector. Key players in the bitcoin ATM industry include Bitcoin Depot with 7,543 and Coinflip with 5,057 machines.
The surge in crypto ATM installations is particularly noteworthy in the United States, where the dominance is evident compared to other countries, including Canada. Australia has experienced significant growth, reaching 1,107 ATMs in just two years, challenging Europe's count of 1,584 machines. Several nations like Spain, Poland, El Salvador, Germany, and Hong Kong have embraced crypto ATMs, contributing to the global spread of the technology.
The market witnessed a downturn from late 2022 to mid-2023, hitting a low point of 32,764 installations. However, with the increasing global adoption of cryptocurrencies, the number of ATMs is anticipated to rise substantially by the end of the year. Currently at 38,279 installations, the market is approaching the previous peak recorded in December 2022. The future of crypto ATMs looks promising as the industry expands and gains wider acceptance.
