The Number Of Crypto ATMs Decreases Significantly Around The World

JAKARTA - Bitcoin's global adoption growth continues to increase, but the number of physical ATMs specifically for fiat conversion to crypto is decreasing. In March alone, 3,627 crypto ATMs were removed from the network, bringing the total ATM to 33,727.

In the decade since the first Bitcoin ATM was launched on October 29, 2013, the net change of installed and deleted cryptocurrency machines every month has remained mostly positive - implying that total crypto ATMs around the world continue to rise. However, this trend is reversed, according to data from Coin ATM Radar.

Cointelegraph reported, crypto ATM net installations declined for four months between September 2022 and March 2023. However, with 3,627 crypto ATMs dropping last month, March 2023 stand out as the month with the biggest monthly drop.

The number of Bitcoin machines installed over time reveals a sudden drop in the total number of crypto ATMs. The importance of this reduction is enormous, considering the largest number of ATMs installed in one month is 2,048 - back in January 2021.

But on the positive side, April broke a downward trend over three months by listing 37 crypto ATM installations on April 1. Current market leaders in producing crypto ATMs are General Bytes, BitAccess, and Genesis Coin.

After losing customer funds in a "security incident" in March that saw its customers' hot wallet accessed, General Bytes promised to compensate for the loss.

"We have taken immediate steps to prevent unauthorized access to our system and work relentlessly to protect our customers," General Bytes said in a statement.