The number of global bitcoin ATMs is surging despite the crypto winter
The total number of installed bitcoin (BTC) and cryptocurrency ATMs globally has risen to 38,597 as of Dec. 30, up more than 7,000 from the 32,627 cryptocurrency ATM installs recorded last year, according to Coin ATM Radar.
Bitcoin ATMs are surging amid the crippling bear markets
Despite the ongoing cryptocurrency winter, unfavorable market conditions, and the Sam Bankman-Fried FTX debacle that wiped out countless bitcoin-related businesses this year, the bitcoin ATM sector has continued to gain massive adoption globally.
According to data available on Coin ATM Radar, the number of bitcoin ATMs installed in various jurisdictions around the world has reached the 38,597 mark as of December 30, which is a significant increase from the 32,627 crypto ATMs registered during the same period last year.
While the US is often criticized for its lack of regulatory clarity in its Web3 sector, the region is currently at the forefront of Bitcoin ATM adoption. The total number of cryptocurrency ATMs in the United States was 33,549 as of December 30, compared to 28,492 during the same period last year.
Similarly, Canada is home to 2,559 crypto ATMs and Europe boasts 1,502. Other jurisdictions, including Spain, Poland, Australia, and Switzerland, have 226, 150, 218, and 145 crypto ATMs, respectively.
Despite their growing adoption and popularity, cryptocurrency ATMs have faced regulatory hurdles across some jurisdictions in recent months due to their sometimes use by bad actors.
“None of our registered crypto asset companies are approved to provide crypto ATM services, which means that none of them operating in the UK are doing so illegally, and consumers should not use them.”
Last March, the UK’s Financial Conduct Authority (FCA) issued a statement mandating all crypto ATM operators in the region to shut down operations due to a lack of proper regulatory licenses or approval.