Global Crypto ATM Installations Surge in 2024, Approaching All-Time High

Cryptocurrency ATM installations have surged by 17.8% in 2024, with 2,564 new machines added globally, signaling a rebound from the previous year's decline, according to Coin ATM Radar.

Global Crypto ATM Installations in 2024 Set to Surpass Last Year's Decline, Increasing 17.8% So Far

As Cointelegraph reported, the 2,564 cryptocurrency ATMs installed thus far in 2024 are on course to surpass the 2,861 machines removed in 2023.

The number of cryptocurrency ATMs installed worldwide has increased by 17.8% in the past year, reaching 38,279, closer to the 39,541 set in December 2022.

Coin ATM Radar reports a positive trend in installing 2,564 new cryptocurrency ATMs as of 2024, as opposed to a net loss of 2,861 machines in 2023.

Between July 2023 and May 2024, the total increased every month.

The number of installations decreased by 115 from May to June; however, June experienced a significant rebound, resulting in a net increase of 377. The top three cryptocurrency ATM operators are Bitcoin Depot, Coinflip, and Athena Bitcoin, with 7,543, 5,057, and 2,756 machines, respectively.

U.S. Dominates Crypto ATM Market as Australia's Installations Surge Nearly 17-Fold in Two Years

Bitcoin is the most commonly traded cryptocurrency, with Bitcoin Cash, Ether, and Litecoin also prominent. While Canada ranks second with 7.7%, the United States is home to over 82% of the world's cryptocurrency ATMs.

In the past two years, the number of installations in Australia has significantly increased, nearly 17-fold to 1,107 devices.

Australia is in a favorable position to surpass Europe's 1,584 ATMs at the current installation rate. Other countries with substantial cryptocurrency ATM installations include Spain (313), Poland (279), El Salvador (215), Poland (211), Germany (177), and Hong Kong (169).

Switzerland, Austria, New Zealand, Romania, and Georgia are the other countries with over 100 ATMs. 72 of the 193 countries worldwide recognized by the United Nations have cryptocurrency ATMs.

Between December 2022 and July 2023, the number of installations encountered a substantial net decline, culminating in a low of 32,764—an 18-month low.

Automated Teller Machine, according to Radar's data, BitAccess, a manufacturer of cryptocurrency ATMs, contributed to the decline, as its net installations decreased by 26% from 9,160 in August 2022 to 6,774 in January 2024.

Nevertheless, it has increased its net installations by 1,208 since that time.

Photo: Microsoft Bing

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