Link copied 
The year 2023 marks a significant downturn in the crypto ATM landscape as it witnessed the discontinuation of over 5,700 units. This is a historic first since their initial deployment in October 2013.
Coin ATM Radar's latest data reveals a noteworthy shift from the peak of 39,350 crypto ATMs in December 2022 to approximately 33,620 globally, signifying a 14.5% decline from the previous high.
Fluctuating Trends Throughout the Year
January 2023 saw the removal of 1,523 units, followed by 210 in February and a substantial reduction of 3,555 in March.
This shows the deployment and decommissioning trends happening in the crypto industry. A brief resurgence occurred in May and June, as nearly 2,500 new installations were witnessed. However, July marked the highest number of ATM removals, with 4,218 units decommissioned.
Market share analysis indicates that 10 operators manage 67% of the global cryptocurrency ATM network.
According to Crypto News, Bitcoin Depot leads with 6,000 ATMs, followed by Coinflip with nearly 4,000, and Bitstop and Rockitcoin. This consolidation highlights a significant concentration of services among a few key players. This can raise potential challenges for new vendors entering the crypto ATM industry.
Future Prospects: Emerging from Crypto Winter
Industry observers are keen to see whether crypto ATMs will experience a resurgence in redeployment and installations this year.
This happens as the broader market gradually emerges from the extended crypto winter. However, current trends suggest a potential decline in general consumer interest in ATMs for virtual assets.
According to Crypto Daily, the evolving landscape prompts industry players to explore innovative approaches to reignite public engagement and interest in crypto ATMs.
Whether through enhanced user experiences or strategic partnerships, such initiatives will play a crucial role in reshaping the trajectory of crypto ATMs amid changing market dynamics.
Photo: Jonathan Borba/Pexels
