Bitcoin (BTC) ATM installations have been steadily declining throughout 2022, with just 202 new BTC ATMs installed in May, a figure last seen three years ago in 2019.
Since January, the number of Bitcoin ATM installations has gradually decreased, finally decreasing by 89.75 percent from the 1,971 new installations in December 2021. Data from Coin ATM Radar, on the other hand, shows an obvious rebound in installation numbers, with the world seeing 817 Bitcoin ATMs deployed in June – in only the first five days.
Geopolitical tensions throughout the world, ambiguous or anti-crypto policies, market saturation, and commercial effect owing to the continuing coronavirus epidemic are some of the primary causes driving to the slowdown in crypto ATM installations.
ATM for coins According to Radar's research, the United States is home to 87.9 percent of the world's 37,826 crypto ATMs. Europe has 1,419 ATMs, accounting for 3.8 percent of worldwide ATM installations.
Genesis Coin, the producer of crypto ATMs, is the global leader in terms of market share, accounting for 41% of all active crypto ATMs worldwide. General Bytes (21.6 percent), Bitaccess (16 percent), Coinsource (5.4 percent), and Bitstop are among the other producers with significant market shares (4.7 percent ).
While real-world problems may temporarily impede Bitcoin's physical expansion through ATMs, at its core, the Bitcoin network continues to surpass prior records in protecting, decentralizing, and speeding up the impenetrable peer-to-peer network.