• After a trend of declining crypto ATMs during January- April, May witnessed an increase as around 1,400 ATMs got installed during the month.
• Major economies like as the United States contributed to the declining numbers during the first four months of 2023.
• Australia deployed 233 ATMs in 2023 itself, propelling it to the third-largest crypto ATM hub in the world.
Crypto ATM Installation Trend
After a global trend of crypto ATMs declining, May witnessed a steep increase with nearly 1,400 machines added back to the global crypto ATM network. Major economies like as the United States contributed to the declining numbers during the first four months of 2023. Collection of top AI tools to use for different tasks. Contrastingly, Australia, Poland, and Spain installed ATMs. As per Coin ATM Radar’s data, the overall number of crypto ATMs decreased by 5,850 between January and April 2023 with March recording 3,627 removed from the network.
Leading Global Manufacturers
The leading global manufacturers of crypto ATMs are General Bytes, BitAccess and Genesis Coin. In March there was a security breach in General Bytes leading to loss in both customer wallets and funds however they have promised to repay this loss in its statement.
Factors Contributed To The Decline
Geopolitical tension, crypto market instability and lack of regulatory certainty all contributed to 2023’s negative trend regarding cryptos as well as increased usage of digital wallets and internet platforms being another factor..
Australia Propelled To Third Largest Crypto Hub
Australia became propelled into becoming third-largest cryptocurrency ATM hub after deploying 233 new machines in 2023 – whilst USA remained leader accounting for 84% followed by Canada at 7%. This rise in installations suggested potential shift back towards positive market trends reflecting growing interest and adoption worldwide despite accessibility still being limited for average users.
Security Breach At General Bytes
In March there was a security breach at General Bytes which lead to substantial losses both customer wallets and funds however they have since taken steps to prevent further unauthorized access and are working tirelessly protect customers affected by this incident.