- 817 Bitcoin ATMs were erected throughout the globe in the first five days of June.
- 1,419 ATMs make up 3.8 percent of the ATMs in Europe.
Throughout the year 2022 so far, the number of Bitcoin (BTC) ATMs installed worldwide has fallen steeply, with only 202 new ATMs installed in May, a range last seen three years ago in 2019.
Since January, the number of Bitcoin ATMs installed in the United States has decreased by 89.75 percent from the 1971 new machines installed in December 2021. However, according to Coin ATM Radar, 817 Bitcoin ATMs were erected throughout the globe in the first five days of June – a remarkable recovery.
Multiple Factors Affecting ATM Installations
Geopolitical tensions throughout the globe, ambiguous or anti-crypto policies, market saturation, and the commercial effect of the current coronavirus epidemic are all factors leading to the delay of crypto ATM installations.
According to Coin ATM Radar’s findings, more than 87 percent of the 37,826 crypto ATMs in the globe are located in the United States. 1,419 ATMs make up 3.8 percent of the ATMs in Europe, which is the continent’s total number of machines.
At the top of the crypto ATM industry, Genesis Coin continues to have a 41 percent market share, making it the largest maker of such machines. General Bytes (21.6 percent), BitAccess (16 percent), Coinsource (5.4 percent), and Bitstop (5.4 percent) are the other main producers (4.7 percent).
When it comes to real-world issues, the Bitcoin network continues to surpass its prior records in security, decentralization, and speed in the impermeable peer-to-peer (P2P) network, despite these hurdles. For the first time in history, the Bitcoin Lightning Network (LN) capacity hit an all-time high of 3915.776 BTC, significantly increasing transaction speeds and decreasing costs above layer-2.