The number of new bitcoin ATMs falls for the fourth month in a row

Despite the fact that there are already more than 37,000 ATMs in 76 countries, the number of new installations has been falling since the beginning of 2022. Most likely, this is due to the ambiguous position of different countries on the issue of bitcoin acceptance and the general lack of regulatory policy in most governments (although this process is going on by leaps and bounds — we write about bitcoin regulation news every week).

According to data published by Coin ATM Radar, 2021 saw the largest increase in the number of BTC ATM installations, with a peak of 2037 ATMs installed last August. Since January 2022, the number of new ATM installations has been steadily declining.

The explosive growth of cryptocurrency ATMs last year was a direct result of jurisdictions such as El Salvador accepting bitcoin as legal tender. The country is currently home to the third largest network of BTC ATMs after the United States and Canada, with 205 Chivo-branded ATMs, which account for 70% of all crypto ATMs in South America.

The manufacturer Genesis Coin is the leader among cryptocurrency ATMs, occupying 41.5% of the market. Other ATM brands include General Bytes (21.6%), BitAccess (15.2%), and Coinsource (5.3%).