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 surged by 17.8% in the past year, reaching 38,279 units as of 2024, according to Coin ATM Radar.

This marks a significant increase compared to the net loss of 2,861 machines recorded in 2023.

The total number of crypto ATMs globally is now approaching the all-time high of 39,541 set in December 2022.

As of 2024, there have been 2,564 cryptocurrency ATMs installed, which is on track to exceed the 2,861 machines removed in 2023.

Coin ATM Radar's data shows a positive trend with a net increase of 377 units so far this year.

After a net increase every month from July 2023 to May 2024, the number of installations decreased by 115 from May to June. However, June saw a strong rebound.

Bitcoin Depot, Coinflip, and Athena Bitcoin remain the top three cryptocurrency ATM operators, boasting 7,543, 5,057, and 2,756 machines, respectively.

The United States Dominates Crypto ATM Market, Australia's Installations Surge Nearly 17-Fold in Two Years

Bitcoin is the most commonly traded cryptocurrency at these ATMs, followed by Bitcoin Cash, Ether, and Litecoin.

The United States hosts over 82% of the world's cryptocurrency ATMs, while Canada ranks second with 7.7%.

In the past two years, Australia has seen a remarkable surge in crypto ATM installations, increasing nearly 17-fold to 1,107 devices.

At the current installation rate, Australia could soon overtake Europe, which currently has 1,584 ATMs.

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 also have over 100 ATMs each.

In total, 72 of the 193 countries worldwide recognized by the United Nations have cryptocurrency ATMs.

Between December 2022 and July 2023, the total 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 this decline, as its net installations decreased by 26% from 9,160 in August 2022 to 6,774 in January 2024.

However, it has since increased its net installations by 1,208 units.

Photo: Microsoft Bing