Market Rebound: Crypto ATMs Surge Globally

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The amount of crypto ATMs installed globally has increased significantly over the last year, rising 17.8% to 38,279 in total. With this increase, the total approaches the December 2022 peak of 39,541 ATMs. The turn around points to a robust comeback and rising market interest.

Coin ATM Radar reports that 2,564 new bitcoin ATMs have been installed this year, compared to 2,861 devices that were lost in 2023. The installation numbers have increased steadily from July 2023 to May 2024, with the sole dip being in May and June, when installations decreased by 115. June saw a net rise of 377 machines, though, as the market swiftly recovered.

Leading this growth are the top cryptocurrency ATM operators, Bitcoin Depot, Coinflip, and Athena Bitcoin, with 7,543, 5,057, and 2,756 machines, in that order. The most often used cryptocurrency through these crypto ATMs is still bitcoin (BTC), followed by litecoin (LTC), ether (ETH), and bitcoin cash (BCH).

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List of Countries with Notable Crypto ATMs

With more than 82% of the total machines, the United States is home to the majority of the crypto ATMs worldwide. Cryptocurrency ATMs are already found in 72 of the 193 countries that have been recognized by the UN, demonstrating the broad acceptance and curiosity in digital currencies. A far distant second, with 7.7%, is Canada.

In the meanwhile, Australia has had an astounding boom, with 1,107 ATMs added in the last two years—nearly 17 times as many. With current pace, Australia will soon have more ATMs than Europe has.

Other countries with notable numbers of cryptocurrency ATMs include Spain with 313 machines, Poland with 279, El Salvador with 215, Germany with 177, and Hong Kong with 169. Additionally, Romania, Georgia, Switzerland, Austria, and New Zealand each boast over 100 ATMs.

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Hard Times

In December 2022–July 2023, installations significantly decreased net, hitting an 18-month low of 32,764. This fall occurred at the same time as the cryptocurrency values fell more broadly.

The drop in Crypto ATMs was mostly blamed on BitAccess’s performance, which saw a 26% drop in net installations from 9,160 in August 2022 to 6,774 in January 2024. But BitAccess has subsequently turned things around, adding 1,208 machines to its net installations.

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