Installation Rate of Crypto ATMs Starts to Decline
At the beginning of 2022, the installation rate of cryptocurrency ATMs began to decline for the first time ever.
According to data from Coin ATM Radar, 1,817 crypto ATMs were installed around the world in the first two months of 2022. This is noticeably less than in January-February 2021, when 2,435 ATMs were installed around the world. In 2020, for the same period, 760 crypto ATMS were installed, and in 2019 – 250.
One of the main reasons for this slowdown may be market saturation – now 95% of crypto ATMs (34,248) are installed in North America. In 2022, 93% of all new devices were in the US. In Europe, in January-February, the number of crypto ATMs even decreased by one machine. This is due to the complexity of doing business in various jurisdictions.
