Coin ATM Radar Shows Crypto ATM Installation Has Doubled Down
The growing crypto adoption has encouraged virtual assets service providers (VASPs) to bring services closer to the user. In a recent report, the Coin ATM Radar noted that installation of crypto ATMs have doubled.
Installation of Crypto ATMs Surges
For the last 12 months, around 38279 ATMs have been installed, a 17.8% increase from the previous year.
Even though the number of ATMs installed in 2023 decreased by 2861 after the collapse of the crypto market in 2022, the Coin ATM Radar demonstrates that crypto-related activities have gained traction.
At the beginning of this year, around 2564 ATMs were installed. The Coin ATM Radar observed that the number of crypto ATM installations has increased since July last year.
Despite the installation rates plummeting by 115 in May, the number of crypto kiosks surged to 377 in June.
A review of the Coin ATM Radar depicts that Bitcoin Depot, Athena Bitcoin, and Coinflip installed 7543, 5957, and 2756 crypto ATM kiosks, respectively.
Besides analyzing the number of crypto ATMs installed, the Coin ATM Radar report examines the crypto assets most traded. They observed that Bitcoin emerged as the most traded crypto asset. Other digital assets that are gaining popularity include Ether, Litecoin, and Bitcoin Cash.
Bitcoin Adoption Increases
The report indicated that the most recently installed crypto ATMs were in the US, Canada, and Europe. The Coin ATM Radar report shows that 82% of the global crypto ATMs are in the United States.
Consequently, Canada owns 7.7% of the crypto ATM. The crypto ATMs allow customers to acquire Bitcoin using credit or debit cards. The crypto ATM enabled users to convert their crypto assets to fiat currency.
With the growing popularity of crypto assets, the Australian Bitcoin ATM installation surged by seventeen times from 2022. Around 1107 crypto ATMs have been installed in Australia, silently outpacing Europe.
Role of Crypto ATM
The Coin ATM Radar report indicated that Europe, Spain, Poland, and El Salvador own 1584, 313, 279, and 215, respectively. Other countries boasting of owning Bitcoin ATMs include Poland, Germany, Hong Kong, Austria, and New Zealand.
Notably, the surge in crypto adoption has compelled countries like El Salvador to develop policies promoting the growth of the digital world.
Recently, the El Salvador government announced plans to introduce a Bitcoin bank. The success of El Salvador Bitcoin has inspired other countries to emulate Central American countries.
TradeZoneCrypto.com offers high-quality content catering to crypto enthusiasts. We’re dedicated to providing a platform for crypto companies to enhance their brand exposure. Please note that cryptocurrencies and digital tokens are highly volatile. It’s essential to conduct thorough research before making any investment decisions. Some of the posts on this website may be guest posts or paid posts not authored by our team, and their views do not necessarily represent the views of this website. TradeZoneCrypto.com is not responsible for the content, accuracy, quality, advertising, products, or any other content posted on the site.
