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Number Of Crypto ATMs Globally Approaches 40,000

As cryptocurrencies gain popularity throughout the world, the number of installed crypto ATMs is gradually approaching 40,000.

Number Of Crypto ATMs Globally Approaches 40,000 4

According to Coin ATM Radar data collected on August 8, 2022, 614 operators have 39,008 crypto ATMs installed across 77 countries.

Despite a slowdown from Q1 2022 to Q2 2022, when the number of new crypto ATM installations decreased by 32.26%, from 2,362 to 1,600 machines, Q3 2022 indicates a more optimistic trend.

Crypto ATM installation growth chart on August 8, 2022. Source: Coin ATM Radar

Notably, the rising trend began in January 2017, when the statistics were approaching 1,000 machines. It had a significant increase beginning in September 2020, with less than 10,000 machines globally, and it continues to this day.

The number of installations has increased by 3,925% from the beginning of January 2017, when there were around 969 worldwide crypto ATMs. With 37,074 machines or 95% of all crypto ATMs globally, North America remained ahead of the curve. Around 3.8% of all crypto ATMs in operation now are in Europe, with the remaining 1.1% encompassing other continents.

There are 39,008 ATMs in total, with 38,996 supporting Bitcoin (BTC) and 33,051 accepting different cryptocurrencies.

ATM supported cryptocurrencies chart on August 8, 2022. Source: Coin ATM Radar

Despite the bear market, crypto ATM installations increased in 2021, owing to the market’s growing value, which continued throughout the first half of 2022 and beyond.

The Federal Bureau of Investigation (FBI) targeted crypto ATMs in November 2021, issuing a warning against internet fraudsters who use crypto ATMs and QR codes to deceive their naive victims.

Furthermore, in March 2022, the British Financial Conduct Authority (FCA) ordered that all crypto ATMs within the UK be shut down or face additional legal action.

Despite this, with numbers expected to reach 40,000 in the next months, the future of crypto ATMs throughout the world appears to be gaining speed after staying unfazed by a difficult 2022.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.