In the wake of over 5,000 crypto ATMs being taken out of service during the initial four months of 2023, the past four months have witnessed a resurgence in global crypto ATM installations.
Crypto ATM Landscape Rebounds After Downturn
Ever since the debut of the first bitcoin ATM in Vancouver, Canada, back in 2013, there has been an impressive worldwide increase in bitcoin and crypto ATMs, with the United States hosting a sizable share. The year 2014 saw a significant acceleration in ATM installations within the U.S., making it a primary market for such devices. This surge can be attributed to the growing popularity of digital currencies, user-friendly interfaces, and an increased appetite for decentralized finance (defi) solutions. Crypto ATMs offer users an accessible and convenient method to purchase and sell digital assets. Essentially, these self-service machines enable individuals to conduct cryptocurrency transactions using cash or credit/debit cards.
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