Significant Drop in Number of Crypto ATMs in 2023
2023 saw a surprising decline in the number of crypto ATMs, with over 5,700 machines being decommissioned. This resulted in a 14.56% decrease, bringing the total number of crypto ATMs down from 39,350 to 33,620 across 71 countries.
14.56% Decline in Crypto ATMs Since December 2022
Data from coinatmradar.com reveals that more than 5,700 crypto ATMs were decommissioned in 2023. The number of crypto ATMs stood at 39,350 in December 2022 but dropped to 33,620 by December 30, 2023. This represents a decline of 14.56%.
The United States Continues to Lead in Crypto ATMs
The United States is the country with the highest number of crypto ATMs, accounting for 82.2% of the total. There are 27,985 locations across the US where crypto ATMs can be found. Canada ranks second with 2,897 ATMs in 8.4% of the locations.
Fluctuations in Monthly ATM Installations and Decommissioning
According to Coin ATM Radar’s data, January 2023 saw the removal of 1,523 devices, followed by 210 ATM removals in February. March 2023 witnessed the highest number of decommissioned ATMs, with 3,555 machines being taken down. Only May and June 2023 showed an increase in ATMs, with 1,711 and 857 machines installed, respectively. However, July recorded the highest number of decommissioned ATMs, with 4,218 machines being eliminated.
Ten Operators Dominate the Crypto ATM Market
Bitcoin Depot is the top crypto operator, running 6,311 ATMs. Coinflip follows with 3,880 ATMs, while Bitstop operates 2,854 ATMs and Rockitcoin oversees 2,227 machines.
Hot Take: Decline in Crypto ATMs Signals Evolution of the Market
The decline in the number of crypto ATMs in 2023 indicates a shift in the market. While the total number of ATMs decreased, it also reflects the consolidation and maturation of the crypto industry. As the market continues to evolve, it is important to adapt to new trends and seek opportunities beyond traditional ATMs. The future of crypto will be driven by innovative solutions and widespread adoption, leading to new avenues for users to access and utilize cryptocurrencies.
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