May marked a break from the downtrend of Bitcoin ATMs worldwide, with nearly 1,400 new installations.
Throughout the first four months of 2023, the total number of crypto ATMs continuously decreased. During that time, some major economies such as the United States contributed to this reduction in the number of ATMs. However, Australia, Poland, and Spain increased the installation of crypto ATMs during that time.
The chart shows that in the first four months of 2023, the number of crypto ATMs worldwide has decreased by 5,850. However, in May, there were 1,397 machines added back to the global network of crypto ATMs, as confirmed by data from Coin ATM Radar.
While Bitcoin ATMs do not directly contribute to the growth of the Bitcoin network, they do serve as physical gateways for users to convert their fiat currency to crypto. In 2023 alone, Australia installed a total of 233 ATMs, making it the country with the third largest number of crypto ATMs in the world.
Despite a significant drop in the number of machines for the full year, the United States maintained its lead, accounting for 84.7% of all crypto ATMs worldwide, followed by Canada with 7.6%.
Currently, there are 35,069 crypto ATMs in operation worldwide.
see more : 3 Altcoins are expected to increase in price in June