Cointime

Download App
iOS & Android

Study: 6,100 Crypto ATMs Installed in 2022, Figure 3 Times Less Than in Previous Year

Validated Individual Expert

New data has shown that as many as 6,100 crypto and bitcoin automated teller machines were installed in the first eleven months of 2022. The latest figure is approximately three times less than the ATMs that were installed in 2021. The data shows that the United States, which has over 34,000 crypto ATMs, accounts for nearly 90% of all the installed machines.

Fewer ATMs Installed in 2022

According to the data compiled by Crypto Presales, the approximately 6,100 crypto and bitcoin automated teller machines (ATMs) installed in the first eleven months of 2022 are almost three times less than what was installed in the same period last year. The apparent slowdown in the number of newly installed ATMs is in contrast to the rapid increase in the number of new installations that was seen in 2021.

As explained in the Crypto Presales report, the year 2021 witnessed the most crypto and bitcoin ATM installations by far — about 20,300 newly installed machines. That year’s record number of new installations brought the total number of such ATMs to 32,600.

In contrast, the year 2022, which has been dominated by bears and the collapse of Terra LUNA and UST (and more recently the collapse of FTX), has seen the number of ATMs installed drop for the first time. The report explained:

By mid-2022, there were around 37,800 crypto ATMs worldwide. The number continued rising and hit over 38,800 in August. However, in September, the number of BTMs dropped for the first time, with the total number of machines slipping to 38,400.

The report nevertheless revealed the number of installed ATMs has since recovered and was believed to have been hovering around 39,000 by mid-November 2022.

United States Rules the Roost

Meanwhile, the data compiled by Crypto Presales shows that the United States accounts for approximately 90% of all installed crypto and bitcoin ATMs in 2022. According to the data, Canada’s 2,688 installed ATMs occupy the second position in the top ten list of countries with the most crypto-dispensing machines. The rest of the countries in the top ten have under 300 ATMs installed.

Concerning the ownership of ATMs, the report said:

“With a 33% market share and over 12,000 machines as of November, Bitaccess represents the largest crypto ATM manufacturer globally. General Bytes ranked second with a 23% market share and around 9,000 BTMs. Genesis Coin and Bitstop follow with a 22% and 5% market share, respectively.”

The report, which relies on data from Coin ATM Radar, noted that 82% of all the installed machines support altcoins. About 80% of the ATMs support litecoin, 73% support ethereum, and only 39% support dogecoin.

BTC
Comments

All Comments

Recommended for you

  • Equation News calls out Binance for "insider trading": You are destroying the sentiment of the trading market

    On November 25th, Formula News reported that to those insider traders who participated in the listing of Binance perpetual contracts, please slow down when selling your chips next time. The WHY and CHEEMS crashes you caused resulted in a 100% negative return for everyone involved in the trade, and you are destroying the emotions of the trade. Earlier today, Binance announced the listing of 1000WHYUSDT and 1000CHEEMSUSDT perpetual contracts, which caused a short-term crash in WHY and CHEEMS and sparked intense discussion within the community.

  • U.S. Congressman Mike Flood: Looking forward to working with the next SEC Chairman to revoke the anti-crypto banking policy SAB 121

     US House of Representatives will investigate Representative Mike Flood's recent statement: "Despite widespread opposition, SAB 121 is still operating as a regulation, even though it has never gone through the normal Administrative Procedure Act process." Flood said, "I look forward to working with the next SEC chairman to revoke SAB 121. Whether Chairman Gary Gensler resigns on his own or President Trump fulfills his promise to dismiss Gensler, the new government has an excellent opportunity to usher in a new era after Gensler's departure." He added, "It's not surprising that Gensler opposed the digital asset regulatory framework passed by the House on a bipartisan basis earlier this year. 71 Democrats and House Republicans passed this common-sense framework together. Although the Democratic-led Senate rejected it, it represented a breakthrough moment for cryptocurrency and may provide information for the work of the unified Republican government when the next Congress begins in January next year."

  • Indian billionaire Adani summoned by US SEC to explain position on bribery case

    Indian billionaire Gautam Adani and his nephew, Sahil Adani, have been subpoenaed by the US Securities and Exchange Commission (SEC) to explain allegations of paying over $250 million in bribes to win solar power contracts. According to the Press Trust of India (PTI), the subpoena has been delivered to the Adani family's residence in Ahmedabad, a city in western India, and they have been given 21 days to respond. The notice, issued on November 21 by the Eastern District Court of New York, states that if the Adani family fails to respond on time, a default judgment will be made against them.

  • U.S. Congressman: SEC Commissioner Hester Peirce may become the new acting chairman of the SEC

    US Congressman French Hill revealed at the North American Blockchain Summit (NABS) that Republican SEC Commissioner Hester Peirce is "likely" to become the new acting chair of the US Securities and Exchange Commission (SEC). He noted that current chair Gary Gensler will step down on January 20, 2025, and the Republican Party will take over the SEC, with Peirce expected to succeed him.

  • Tether spokesperson: The relationship with Cantor is purely business, and the claim that Lutnick influenced regulatory actions is pure nonsense

     a spokesperson for Tether stated: "The relationship between Tether and Cantor Fitzgerald is purely a business relationship based on managing reserves. Claims that Howard Lutnick's joining the transition team in some way implies an influence on regulatory actions are baseless."

  • BTC falls below $67,000

    market shows BTC has fallen below $67,000, currently reporting at $66,987.51, with a 24-hour increase of 0.41%. The market is experiencing significant fluctuations, please be prepared for risk control.

  • BTC breaks through $67,000

    the market shows BTC has broken through $67,000 and is currently trading at $67,011.99, with a 24-hour decline of 0.26%. The market is volatile, so please be prepared to manage risks.

  • Crypto Options Traders Bet on Bitcoin to Reach Fresh Highs by End of November

    According to Bloomberg, options traders in the crypto market are increasingly betting on bitcoin reaching new highs by the end of November. The $75,000 strike price has the highest open interest for options expiring on November 8, indicating a significant area of focus for the market during that time. Despite the upcoming U.S. presidential election, some traders believe that bitcoin will surpass its previous highs in the coming weeks. The rise in stablecoin liquidity and bitcoin transactions in October may contribute to this bullish sentiment.

  • BTC falls below $67,000

     market shows BTC has fallen below $67,000 and is now trading at $66,988.89, with a 24-hour decline of 2.24%. The market is volatile, so please be prepared for risk control.

  • BTC breaks through $68,600

    the market shows BTC has broken through $68,600 and is now trading at $68,602.48, with a 24-hour increase of 0.67%. The market is volatile, so please be prepared for risk control.