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The rate of cryptocurrency ATMs worldwide has begun to decline

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The number of crypto ATMs on the planet is constantly growing, but at the beginning of 2022, for the first time in history, the speed of installation began to decline.

According to the Coin ATM Radar portal, 1,817 crypto ATMs were installed worldwide in the first two months of the year. This is significantly less than in January and February 2021, when 2,435 such self-service machines were installed worldwide. In 2020, 760 crypto-automats were installed in the same period, and in 2019 – 250.

One of the main reasons for the slowdown in installation speed may be market saturation – now 95% of crypto ATMs (34,248) are installed in North America. In 2022, 93% of all new equipment was installed in the United States. In Europe, the number of cryptomats fell by as much as one machine in January and February. This is due to the complexity of doing business in different jurisdictions.

There are now a total of 36,067 crypto ATMs in the world. The number will continue to grow as, for example, only Salvador plans to increase the number of such facilities this year from 207 to 1,500. In November, BTC Latinum announced plans to install 100,000 crypto ATMs in the United States.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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