Global Crypto ATM Installations Surpass 38,000
The global number of cryptocurrency ATMs has now surpassed 38,000, approaching a historical high. Despite the removal of nearly 3,000 units in 2023, there have been 2,564 new installations this year.
According to Cointelegraph, the current total stands at 38,279 ATMs, that allow users to exchange digital currencies for cash. This marks a 17.8% increase over the past twelve months, closely aligning with the all-time high of 39,541 ATMs recorded in December 2022.
After almost a year of declines due to shutdowns led by U.S. law enforcement addressing extortion and fraud issues, the sector saw positive growth again. The reasons for earlier declines remain unclear. The month of May saw a reduction of 115 ATMs, yet June experienced a significant recovery, adding 377 new installations.
Key players in the industry include Athena Bitcoin, Bitcoin Depot, and Coinflip, operating approximately 2,756, 5,057, and 7,543 ATMs respectively.
Leading Countries
Data from CoinATMRadar, a global ATM tracking service, indicates that over 82% of crypto ATMs are located in the United States, followed by Canada with 7.7%. Australia has shown substantial growth, now boasting 1,107 ATMs—a nearly 17-fold increase over two years, potentially outpacing Europe, which has 1,584 ATMs.
Other countries with a significant number of ATMs include Spain (313), Poland (279), El Salvador (215), Germany (177), and Hong Kong (169). Romania, Georgia, Switzerland, Austria, and New Zealand also have over 100 ATMs each.
Out of the 193 UN-recognized countries, only about 72 have digital currency ATMs, highlighting a disparity between well-equipped regions like North America and Australia and regions like South America and Africa.
There are more than 40 manufacturers and around 448 companies operating these machines globally.
Situation in Israel
In Israel, there are around 14 ATMs, primarily in major cities such as Tel Aviv, Haifa, Jerusalem, Beersheba, and Netanya. These ATMs are notably used by foreign workers for transferring money to their home countries, benefiting from cryptocurrency’s efficiency despite often high fees when compared to traditional money transfer systems.