US With Highest Number of Closed Bitcoin ATMs in Negative Growth Year –

The number of ATMs supporting digital currencies has fallen worldwide during a tumultuous year for the entire industry. The United States has lost more machines offering crypto checkout services than any other country, according to a new report, while Australia tops the chart in terms of new installations.

2022 ends with fewer crypto ATMs worldwide, US removing nearly 200 devices

ATMs ( ATMs ) that allow users to buy cryptocurrencies or exchange coins for fiat have declined in number over the past year. According to data compiled by Coin ATM Radar, the period began with 38,691 and ended with 38,603 Bitcoin ATMs, a negative growth of 88 units or -0.2%. The tracking site emphasized:

This is the first time we have seen a negative number of Bitcoin ATM installations.

The numbers are from Radar’s December 2022 Bitcoin ATM Market Dynamics Test report. The study shows that the US continues to be the clear leader in active ATMs, with 33,941 locations out of a total of 38,608 locations. However, the nation also removed the most crypto ATMs last year – 188 or 0.6%.

“If we look at the list of the most active countries, the first thing we can see is that the usually dominant United States is in last place,” the authors noted. Meanwhile, Australia has climbed to the top with 50 new installations, an increase of almost 30%.

Canada, where there were 16 new BATMs Furnished, follows with positive growth of 0.6% to 2,558. It is followed by Hong Kong, which had nine more machines at the end of 2022 than at the start of the year, up 6.8% to a new all-time high of 142 for the Chinese special administrative region.

The only EU country in the top five, Germany, added eight Bitcoin ATMs to its 89 in 2021. Mexico recorded the highest growth in Latin America (17.1%), from 35 to 41 machines. They are followed by around a dozen European nations with positive statistics, but the Old Continent still lags far behind North America in overall numbers.

Other notable findings from the research include that the share of Bitcoin ATMs also supports other cryptocurrencies Bitcoin has increased during the study period and is currently almost 68%. Dash was the most frequently added coin in December, with 11 additions (an increase of 0.18%).

General Bytes, Genesis Coin, and Freedom Gateway remain the most active crypto ATM manufacturers. General Bytes had 222 devices installed during the period examined. Coinhub, Coinflip Bitcoin ATMs, Olliv and Coin Zeit were the operators that saw a significant increase in the number of machines they manage.

Do you think 2023 will bring a change in the dynamics of the Bitcoin ATM market? Share your expectations in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens' quote: "Being a writer is what I am, not what I do." In addition to crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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