Saturday, July 20, 2024

In early 2022, Bitcoin ATM installations come to a halt, marking a first in history.

January and February of 2022 have seen installations of only 1817 cryptocurrency ATMs across the world. Last year 2435 such ATMs were installed in the same period.

Bitcoin crossed several milestones in the last 6 months. Mainstream adoption of cryptocurrency in El Salvador was the first major event. The cryptocurrencies reached $69,000, an all-time high. Its hash rate also increased significantly. Even with these achievements, the number of BTC ATMs in these two months has reduced compared to the same period last year.

The initial two months of every year have seen an increase in BTC ATM installations, according to data provided by Coin ATM Radar. This year, however, that trend has come down. Only 1817 total new cryptocurrency ATMs have become active in January and February this year. During the same period last year, 2435 cryptocurrency ATMs were installed. Only 760 crypto ATMs were installed during the same timeframe in 2020. The first two months of 2019 saw installations of 250 ATMs.

One reason for this year’s slow start can be due to new jurisdictions not showing interest. For example, among total worldwide cryptocurrency ATMs installed in 2022, the US share was 93% with 1689 ATMs. Across Europe, crypto ATM number came down by one ATM during this two-month period. There were total 1397 ATMs in this region.

There were 34,284 crypto ATM installations across North America, representing 95% of total new cryptocurrency ATM installations across the world. Currently, 36,067 total ATMs are installed worldwide. The new installation rate for this period of the year has come down this year. However, the new installations will increase in the coming months as new jurisdictions like El Salvador deploy their promised 1500 BTC ATMs.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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