Bitcoin ATMs Witness Surge In Numbers For The First Time In 2023
The global count of Bitcoin ATMs has witnessed a notable increase over the past month, reaching a new peak of over 35,000 operational machines, according to the latest data from Coin ATM Radar.
A Resurgence In Bitcoin ATMs In May
This figure of 35,069 ATMs reflects a significant surge after hovering below the 34,000 mark since March. The source also reveals that in April, a nearly two-year low was recorded with a total of 33,389 Bitcoin ATMs.
Related Reading: Top Crypto Strategist Shares Alarming Bitcoin Price Forecast
Comparing the data to December 2022, when the number of ATMs exceeded 39,000, a decrease is evident despite the rise in the price of Bitcoin (BTC) during that period. As data from CoinATM Radar shows, March alone saw around 3,600 Bitcoin ATMs disconnected worldwide.
The trend had been on a downward trajectory since December, as depicted in the Coin ATM Radar graph. However, this situation was reversed with an increase of nearly 1,400 machines in May and an additional 278 in the first few days of June.
Bitcoin ATMs have become popular for users to conveniently buy and sell BTC using fiat cash or cards, offering a quick and seamless experience. Furthermore, these machines typically do not require to Know Your Customer (KYC) data, making them a more private alternative to traditional exchanges.
United States And Canada Lead Distribution Regions
When it comes to the distribution of ATMs across the globe, the United States holds a significant lead, with over 30,000 ATMs installed within its borders, representing more than 85% of the total machines in operation today. According to Coin ATM Radar, Canada is the only other country surpassing 1,000 ATMs, accumulating approximately 2,745.
Related Reading: Bitcoin Mining Continues To Expand Despite Profitability Challenges
Europe comes in second place with about 1,400 ATMs installed across the region, with Spain leading the list with 286 ATMs. In comparison, the United Kingdom has a paltry 16 ATMs installed despite its position as the financial center in the region.
Spain tops the list of Spanish-speaking countries with 285 ATMs, followed by El Salvador with 212 machines. Mexico ranks third with 52 ATMs, while Colombia and Puerto Rico complete the top five with 37 and 32 machines, respectively.
Hong Kong leads with 148 ATMs in Asia, while Japan has only three ATMs installed despite its Bitcoin-friendly regulations. El Salvador unsurprisingly leads the way in Latin America with 272 ATMs following its adoption of Bitcoin as legal tender. Africa has the lowest number of Bitcoin ATMs, with South Africa leading the way with 17, while regional giants Nigeria only has two ATMs installed in its jurisdiction.
Bitcoin Price Analysis
Bitcoin price has stagnated in the past week, with the leading coin trading within the $28,500 resistance zone. At the time of writing, Bitcoin is valued at $27,223, up 0.21% in the past 24 hours.
-Featured image from iStock, charts from CoinATMRadar and TradingView.com
