The United States has the most installed ATMs followed closely by Canada.
Since July 2022, when bitcoin crashed to $23,000 from its record highs, the country has seen a slowdown in the growth of Bitcoin ATMs.
While most ATMs can be found in the US these days, others are experiencing growth. Since the start of last year, the number of ATMs in Europe increased by 100. This includes 430 ATMs in Canada, Spain, 50 ATMs, Poland, 30 ATMs, and Australia with 190.
According to Coin ATM Radar the global number of ATMs is now at 38.641 It is an increase in 14,051 since the start of 2021 but there has been very limited progress in the past year due to the collapse and reorganization of the crypto markets.
The United States has the most installed ATMs followed closely by Canada.
BitAccess, a Bitcoin ATM manufacturer, has seen a drop in ATM installation. Although crypto investors are working to overcome the negative trends over the past year and get back into the game, ecosystems like Bitcoin ATMs remain well-positioned for potential recovery.
El Salvador, a country that held the previous third place, has moved up to the fifth position behind Australia and Spain.
Lightning Network has been integrated into Bitcoin ATMs. These ATMs are able to process transactions immediately using LN which could reduce transaction fees.