Crypto ATM Installations Rebound in May Defying Previous Decline

• The first four months of 2023 saw a worldwide decline of 5,850 crypto ATMs.
• The United States is still the leader in cryptocurrency ATMs worldwide.

There was a substantial increase in May of over 1,400 net installations of Bitcoin and cryptocurrency ATMs, despite a worldwide decrease in 2023.

The number of crypto ATMs steadily declined over the first four months of 2023. While crypto ATM installations skyrocketed in countries like Australia, Poland, and Spain, bigger economies like the United States were mostly to blame for the drop at that time.

U.S Leading the Pack

The first four months of 2023 saw a worldwide decline of 5,850 crypto ATMs. However, May saw an increase of 1,397 machines rejoining the global network of crypto ATMs, as reported by Coin ATM Radar.

Bitcoin ATMs don’t contribute to the growth of the Bitcoin network, but they do make it easier for people to exchange their fiat currency for Bitcoin and other cryptocurrencies. With a growth of 233 ATMs in 2023. Australia is now the third most popular place in the world for cryptocurrency ATMs.

The United States is still the leader in cryptocurrency ATMs worldwide. Last year, U.S. sales accounted for 84.7% of all machines, with Canada coming in second at 7.6%. As of this writing, there are still 35,069 ATMs in operation across the world. In contrast, a hacker had stolen money and private keys from Bitcoin ATM manufacturer General Bytes.

At least 56 Bitcoin and 21.82 Ether were taken, according to earlier reports. The company suggested that its administrators and users migrate to a self-hosted server environment. A virtual private network (VPN) can prevent this from happening again.