The number of cryptocurrency ATMs installed worldwide has surged by 17.8% over the past year, reaching 38,279 units, just shy of the record 39,541 set in December 2022, according to Coin ATM Radar. This uptick reflects a significant rebound from the previous year’s net loss of 2,861 machines.
Between July 2023 and May 2024, the count of crypto ATMs rose each month, with a slight dip from May to June before a strong recovery in June, adding a net increase of 377 machines.
Leading operators in the market include Bitcoin Depot with 7,543 ATMs, Coinflip with 5,057, and Athena Bitcoin with 2,756 machines. Bitcoin remains the most popular cryptocurrency for transactions, followed by Bitcoin Cash, Ether, and Litecoin.
The United States dominates the global landscape, hosting over 82% of all cryptocurrency ATMs. Canada follows with 7.7%, while Australia has seen a remarkable surge, expanding nearly 17-fold to 1,107 machines in the last two years. At this rate, Australia is on track to surpass Europe, which currently has 1,584 ATMs.
Other notable countries with significant crypto ATM installations include Spain (313), Poland (279), El Salvador (215), Poland again (211), Germany (177), and Hong Kong (169). Additionally, Romania, Georgia, Switzerland, Austria, and New Zealand each boast over 100 ATMs.
Out of the 193 United Nations-recognized countries, 72 now have at least one cryptocurrency ATM. This growth marks a significant recovery from the 18-month low of 32,764 installations experienced between December 2022 and July 2023.
The turnaround can be partly attributed to BitAccess, a leading cryptocurrency ATM manufacturer. Despite a 26% drop in net installations from 9,160 in August 2022 to 6,774 in January 2024, BitAccess has since increased its net installations by 1,208 units.
The resurgence of crypto ATMs highlights a growing acceptance and potential for wider adoption of digital currencies globally.
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