Despite the growth of the adoption rate of Bitcoin, the number of Bitcoin ATMs that have been dedicated to conversions of fiat-crypto has gone on a steady decline.
In the last month alone, there were around 3,627 crypto ATMs that were removed from the crypto network, which brought down the total count to 33,727. In the decade since the first ATM was launched on the 29th of October, 2013, the total change in the cryptocurrency machines that were installed and further removed monthly did remain quite positive most of the time- which implied that the total ATMs throughout the world were increasing at a steady rate. However, it has been recently discovered that the trend has been reversing- according to data issued from Coin ATM Radar.
Bitcoin ATM Installations Have Decreased Over The Months
As is understood from multiple charts, the net Bitcoin ATM installations went down for four separate months between September 2022, and March 2023. However, with around 3,627 ATMs going down the previous month, March has now stood out as the month with the largest decline over a month. The significance of the reduction seems quite humongous, as the highest number of ATMs that were installed was back in January- 2,048.
On the other side of the coin, April ended up breaking the downtrend of three months by recording 37 different Bitcoin ATM installations on the 1st of April. The current leaders in the market in manufacturing crypto ATMs are BitAccess, General Bytes, and Genesis Coin. After losing funds from the customers in a security incident in March, General Bytes has promised to reimburse the hot wallets. In a statement, General Bytes stated that they had taken steps to prevent unauthorized access to the systems, and were also working quite tirelessly to protect the customers.
