Now, there are about 39,000 cryptocurrency ATMs in the world.

Now, there are about 39,000 cryptocurrency ATMs in the world.

Automatic Teller Machines (ATMs) for Bitcoin were first made available to the public by Bobocoin on October 29, 2013, in a coffee shop located in the city of Vancouver, in the Canadian province of British Columbia. During the first week of operation, that cryptocurrency ATM was a witness t


Robocoin ceased operations on October 30 of this year, some nine years after the company's founding, and the first cryptocurrency ATM may have been replaced or taken out of service altogether. On the other hand, there has been an ongoing rise in the total number of ATMs of this kind. According to the information that was provided by Coin ATM Radar, there are roughly 38,804 operational ATMs at this time.

Despite this, the United States is now responsible for approximately 88% of the supply of cryptocurrency ATMs across the globe. Prior to this, Japan was the global hub for cryptocurrency ATMs. In addition to this, the nation deserves the credit for having nearly ninety percent of the totality of the most recent ATMs placed during some of the preceding months. Only in the current month, up to 129 of the specifically introduced ATMs already have locations in the United States, out of a total of roughly 205.

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According to the research carried out by Coin ATM Radar, Canada maintains its position as the world's second most populous nation despite the fact that the country's total number of cryptocurrency ATMs has increased to 566 over the past nine years. Despite this, Canada still holds the title of being the country with the most ATMs overall. On the 22nd of October, Spain surpassed Italy to become the third-biggest hub of cryptocurrency ATMs, with a share of 0.6% proportion of the total number of cryptocurrency ATMs.

Research and Markets recently released a report in which they hypothesized that the market for cryptocurrency ATMs might be worth as much as $46.4 million at the present time. Because of factors such as increased installations of cryptocurrency ATMs and money transfers, it is anticipated that its value would increase by a factor of ten between now and 2027, reaching a total of around $472 million in the process.

September 2022 sees a global decline in the number of cryptocurrency ATMs due to the bear market.

As a result of the bear market in cryptocurrency in 2022, the installation of cryptocurrency ATMs has been discouraged, much as the installation of other items dealing with cryptocurrency. From January through May of this year, there was a slow but steady fall in the number of cryptocurrency ATM installations, which was followed by a modest recovery that took place from June until August. The following month saw a decrease in the number of cryptocurrency ATMs all across the world, with 459 of them being removed.


Ojike Stella

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