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Bitcoin ATM news: the current number of installations is approaching the historical record

Crypto news: the number of Bitcoin ATM installations is getting closer and closer to the historical record. July 2024 starts with a whopping 38,279 crypto ATMs installed, just a step away from the record of 39,541 set in December 2022. 

Bitcoin ATM news: the number of installations is rising again, approaching the historical record

According to the data from Coin ATM Radar, it seems that the growth curve of the number of Bitcoin ATM installations is rising again, getting closer and closer to the all-time high.

In fact, July 2024 begins with as many as 38,279 crypto ATMs installed, just one step away from the record of 39,541 set in December 2022. 

The current growth restarted exactly one year ago, July 2023, without ever stopping month after month. Specifically, it is an annual growth of 17.8% in the last 12 months. 

Only from May to June, there was a recorded small drop of 115 units, but already last month, the number of Bitcoin ATM installations rose to 377 units.

From January 2024, however, 2,564 new ATMs for cryptocurrencies have been installed, indicating the bull trend. 

By looking at the official X account of Coin ATM Radar, it is possible to stay updated on the newly installed Bitcoin ATMs. The latest one in this first half of the year is by General Bytes in Australia, with Local Bitcoin ATM as the operator and BTC, ETH, LTC, DOGE as supported cryptos. 

“Look here! Just installed @generalbytes bitcoin ATM at the M And R tobacconist in Bassendean 🇦🇺. Managed by @LocalcoinATM. Supported coins: BTC, ETH, LTC, DOGE”

Bitcoin ATM on the rise towards the historical record, while the United States dominate the market

Looking at the chart of the geographical distribution of Bitcoin ATMs, the United States dominates the scene with 82% of installations, followed by Canada with 7.7% and Europe with 4.1%. 

The ranking of countries with the highest number of installations, however, sees Australia rise to third place with 1109 Bitcoin ATMs, taking the place of Spain and its 313 installations. 

Other countries with a significant number of crypto ATMs are then Poland (279), El Salvador (215), Poland (211), Germany (177), and Hong Kong (169).

There are also other indicators that describe the trend related to Bitcoin ATMs in the world. 

For example, the top operators of crypto ATMs seem to be Bitcoin Depot, Coinflip, and Athena Bitcoin, with 7,543, 5,057, and 2,756 machines respectively. The top producers of Bitcoin ATMs, on the other hand, are General Bytes, Genesis Coin, and BitAccess. 

If instead you wanted to see which are the most supported cryptos, Bitcoin is number one with a presence in 38,267 crypto ATMs, followed by Litecoin in 20,124 and Ethereum in 19,943.

Under the podium, the most popular cryptos in cryptocurrency ATMs are Dogecoin, Bitcoin Cash, Tether, and USD Coin. 

The recovery after the decline of 2023 

The current positive trend of Bitcoin ATMs in 2024 seems to “recover” the decline that occurred in the first part of 2023, right during the “crypto winter”.

In fact, after the record of December 2022 of 39,541 installations, from January to April 2023, the growth curve showed a decrease in continuous installations, going in total countertrend. 

Only in the month of March 2023 there were over 3,625 crypto ATMs that went offline. But even in January, the number had decreased by 1,588 and in February by -275 installations. The worst month for Bitcoin ATMs was July 2023, with a drop of -4,124 installations. 

In any case, already in August 2023, good news started again in the sector. CoinFlip had announced that it had integrated Ripple (XRP) into its crypto ATM offering. In January 2024, then, spot Bitcoin ETFs were approved and the period of crypto bull run began.