Does your area have a new Bitcoin ATM or have you noticed the slow down too?
BTC ATMs serve a crucial purpose for the Bitcoin economy, helping users physically retrieve or deposit BTC holdings against the corresponding cash reserves.Based on theprovided by Coin ATM Radar, the year 2021 saw the highest global increase in the BTC ATM installations, with August witnessing its peak of 2,037 ATMs net change. Starting in January 2022, the crypto ATM net change fell down to 1,687 from December’s high of 1,969 ATMs.
Ever since, the net change in crypto ATM has maintained a downward trajectory, recording three-digit changes across the following months in February , March and April . Last year’s explosive growth in crypto ATMs was a direct result of jurisdictions like El Salvador embracing Bitcoin as legal tender, which currently hostsTo highlight the highly untapped market for crypto ATMs, El Salvador hosts 205 Chivo-branded ATM machine, which amounts to 70% of all crypto ATMs in South America.
Genesis Coin maintains its long-standing dominance in the crypto ATM market, representing a 41.5% market share. Other prominent crypto ATM manufacturers include General Bytes , BitAccess and Coinsource .On April 26, Mexico's Senate building installed its 14th BTC ATM, showcasing the country’s increasing interest in the crypto ecosystem.
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