The Number Of Bitcoin ATMs Were Installed Surges in March 2022

As crypto adoption grows, companies in the crypto industry are putting infrastructure in place to help with the changeover, such as Bitcoin ATMs. According to the data, a total of 686 Bitcoin ATMs were installed around the world in March 2022, with the number increasing from 36,023 on March 1 to 36,709 on April 1.

This means that 22 Bitcoin ATMs were added every day in March alone, as the number of Bitcoin machines installed over time grows. According to Coin ATM Radar, the total number of crypto ATMs in the world as of April 11 was 36,733.

The growing number of Bitcoin ATMs in use shows how important the machines are becoming as cryptocurrencies gain popularity and acceptance around the world. The United States, in particular, has seen the greatest number of Bitcoin ATM installations.

A recent analysis stated that around 20,000 additional Bitcoin ATMs would be installed in 2021, at a rate of more than 50 per day. As a result, providers and investors are likely to be bullish about the space’s long-term prospects, despite the fact that the main digital asset is still a long way from its all-time high.

Bitcoin ATMs Can Avoid KYC processes

Bitcoin ATMs appeal to cryptocurrency investors who want to profit from the asset without having to go through the time-consuming Know Your Customer (KYC) procedures that are standard on bitcoin trading platforms.

However, because of this anonymity, the British Financial Conduct Authority (FCA) has ordered all operators of cryptocurrency ATMs in the UK to immediately shut down their machines for customers if they want to avoid legal action.

“We are concerned about crypto ATM machines operating in the UK and will therefore be contacting the operators instructing that the machines be shut down or face further action,” 

FCA said

Singapore took drastic steps to prevent consumer marketing of digital assets by shutting down Bitcoin ATMs amid a crackdown on crypto ads.

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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