Despite an increase in Bitcoin interest, there are now fewer ATMs than in January 2023
The number of established Bitcoin ATMs worldwide is approximately 11.1% fewer than at the beginning of 2023, reversing a 10-year trend in which the number increased at the onset of each year. Coin ATM Radar indicates there are 33,628 crypto ATMs worldwide as of January 1, 2024, down from 37,827 documented on January 1, 2023. The net total was up and down throughout 2023 but eventually dropped by the end of the year.
Coin ATM Radar first began tracking crypto ATMs in October 2013, as the number of installed crypto ATMs gradually increased each month until achieving an all-time high in August 2022 of 39,376.
However, the numbers have fallen ever since, specifically during 2023. The biggest decline in crypto ATMs in 2023 was in the US, which saw its count decrease by 15.4% from 32,672 to 27,631. The US still has 82% of the world’s crypto ATMs. In contrast, Australia, Canada, Poland and Spain have steadily boosted their totals.
Coin ATM Radar information indicates crypto ATM manufacturer BitAccess may have helped the decline, with its number of net installations plunging 26% from 9,160 in August 2022 to 6,774 as of January 1, 2024.
One of the major parties in the crypto ATM space, Bitcoin Depot, went public on the Nasdaq on July 3 and recently launched in its 28th US state. The company reported $179.5 million in revenue in Q3 2023, a year-on-year increase of 3%.
There are currently 498 crypto ATM companies operating in 71 countries, according to Coin ATM Radar’s data. Bitcoin (BTC) is the top cryptocurrency backed by crypto ATMs, with Bitcoin Cash (BCH), Litecoin (LTC) and Ether (ETH) among the other cryptocurrencies that can be purchased using ATMs.
