For the first time ever, the global expansion of net Bitcoin ATMs declines.
Data on the net changes of crypto ATM installations show that 796 crypto ATMs were removed from the worldwide network in September.
As September 2022 marked the first time in history that worldwide net installations saw negative growth due mostly to a slowdown in the United States, the ripple effects of a protracted downturn market began to affect the Bitcoin (BTC) ATM ecosystem.
According to statistics from CoinATMRadar, the overall number of Bitcoin ATMs deployed throughout time decreased to 37,980 in September from an all-time high of 38,776 ATMs in August, a decrease of -2.05%.
the total number of installed Bitcoin machines. the CoinATMRadar website
Data on the net changes of crypto ATM installations show that 796 crypto ATMs were removed from the worldwide network in September. 825 ATMs were removed alone in the United States. However, fresh installations on the ground in Europe, Canada, and a few other states mitigated the loss.
The monthly change in the total number of bitcoin machines deployed and decommissioned. the CoinATMRadar website
Despite the setback, statistics based on 60 days indicates that roughly 14 cryptocurrency ATMs are being built daily globally, with Genesis Coin accounting for a 40.3% share of ATM makers. Manufacturers of other well-known crypto ATMs include General Bytes and BitAccess.
Geopolitical tensions and other issues, such as a lack of regulatory clarity and market uncertainty, can be blamed for the abrupt decline in the number of crypto ATM installations.
Countries continue to express interest in having operational crypto ATMs within their borders, notwithstanding the temporary setback that external circumstances have caused to crypto ATM installations.
Most recently, Japan opted to bring back crypto ATMs after 2014. Local crypto exchange Gaia Co. was the driving force behind this decision. In the beginning, new ATMs will be placed all around Tokyo and Osaka. By the end of August 2023, the company hopes to have 50 BTMs operating nationwide.