According to the most recent data, in the first 11 months of 2022, there were installed about 6,100 bitcoin & crypto ATMs. That is three times less number of machines installed in 2021. The United States, which has over 34,000 such ATMs, accounts for more than 90% of all machines.
Installed ATMs in 2022 drop
According to Crypto Presales data, the number of bitcoin & cryptocurrency ATMs installed in the first eleven months of 2022 was nearly three times less than in the same period last year.
The drop in newly installed crypto and bitcoin ATMs is noteworthy given that the number of new installations in 2021 was significantly higher.
According to the report, 2021 was the most successful year for Bitcoin and cryptocurrency ATM installations. Around 20,300 new machines were introduced during this period, bringing the total number of such machines to 32,600.
Comparatively, the number of ATMs installed declined for the first time in 2022, the year that was dominated by the bear market and the failure of UST and Terra Luna. By the middle of 2022, there were about 37,800 cryptocurrency ATMs. BTMs were above 38,000 in August, but fell to roughly 38,400 in September.
The research claims that the number of ATMs has since increased and will reach a high of 38,000 by November 2022.
The average amount of money each machine handle has drastically decreased in the meantime. According to Chainalysis data, the total amount of money handled by crypto ATMs worldwide in October was roughly $230 million, which is much less than the amount handled in January 2021, which was $349 million.
The majority of cryptocurrency ATMs are in the U.S.
According to Crypto Presales data, the United States has the most bitcoin and cryptocurrency ATMs, with approximately 90% installed. Canada came in second with 2,688 machines, while the other top ten countries had fewer than 300.
According to the research, Bitaccess had over 12,000 units worldwide as of November and is the leading manufacturer of crypto ATMs. General Bytes came-in 2nd with a 23% market share, followed by Bitstop and Genesis Coin at 3rd & 5th position, respectively.
Furthermore, according to the research, 82% of all machines are compatible with altcoins. Only 39% of ATMs take Dogecoin, while 80% accept Litecoin and 73% accept Ethereum.