April becomes the 4th consecutive month seeing a decline in Bitcoin ATM installation

Since the beginning of the year, April 2022 has become the fourth consecutive month of a decline in the Bitcoin ATM installment process.

BTC ATMs play an important role in the BTC economy, allowing users to physically retrieve or deposit their BTC holdings against cash reserves.

Bitcoin ATM installation count going down

According to Coin ATM Radar, the year 2021 witnessed the highest global increase in BTC ATM installations, with August seeing the biggest net change of 2,037 ATMs. From December’s high of 1,969 ATMs, the crypto ATM net change decreased to 1,687 in January 2022. Since then, the net change in crypto ATMs has been on the decline. Notably, February, March, and April saw Bitcoin ATM count going down to 970, 757, and 739, respectively.

Last year’s meteoric rise in crypto ATMs was fueled by countries like El Salvador accepting Bitcoin as legal tender. The Central American country now has the third-largest network of BTC ATMs after the US and Canada. It has 205 Chivo-branded ATM machines, accounting for 70% of all crypto ATMs in South America, demonstrating the untapped potential for crypto ATMs.

However, the apparent drop in crypto ATM installations could be due to a lag in newer countries prepared to accept and adapt to the Bitcoin ecosystem.

With a 41.5 percent market share, Genesis Coin retains its long-standing supremacy in the crypto ATM sector. General Bytes (21.6 percent), BitAccess (15.2%), and Coinsource (5.3 percent ) are three more well-known crypto ATM manufacturers.

In October last year, as TheCoinRise reported, the United States retail giant Walmart announced the installation of 200 Bitcoin ATMs across its stores.

Mexico’s Senate building erected its 14th Bitcoin ATM on April 26, demonstrating the nation’s growing interest in the crypto sector.

Indira Kempis, a Mexican senator who recently suggested the legalization of the king coin, announced the opening of a new Bitcoin ATM in the Senate complex.