According to Coin ATM Radar’s newest report, the number of Bitcoin ATMs installed throughout the globe has increased in recent days. Over 882 Bitcoin ATMs have appeared in various regions of the globe in only the first 10 days of June.
The growth in these fiat-to-crypto conversion machines is being attributed to the increasing legislative clarity around cryptocurrencies in many nations.
Furthermore, despite recent market volatility, institutional investments in the crypto business have managed to keep investors’ appetites piqued, leading to an increase in the number of people diversifying their financial portfolios to include crypto assets.
According to Coin ATM Radar’s statistics, between 16 and 23 crypto ATMs are deployed daily on average throughout the globe.
Around 1,970 crypto ATMs were deployed worldwide in December of last year. However, in the previous six months, the number of newer devices has remained stable.
Between January and May this year, the number of crypto ATMs on the market fell by 89.75%.
Bitcoin was battling with market volatility in this group. The price of the world’s most valuable cryptocurrency was hovering around $35,000 at the time (roughly Rs. 27 lakh). BTC is still far from its previous all-time high of $68,000 (approximately Rs. 53 lakh) set in November 2021.
According to Gadgets 360’s crypto price tracker, BTC was trading at about $27,218 (around Rs. 21 lakh) at the time of writing.
According to the research, the United States now has the most BTC ATMs, accounting for 87.9% of the worldwide network. There are already approximately 33,400 crypto ATMs in the United States.
Walmart, the American retail behemoth, announced in October 2021 that 200 Bitcoin ATMs would be deployed at various store locations throughout the country.
The Central African Republic is projected to see an increase in BTC ATMs, similar to how El Salvador’s BTC legalization brought BTC ATMs. Bitcoin was just legalized as a form of payment in the nation.
Genesis Coin, General Byte, BitAccess, Coinsource, and Bitstop are the firms that now provide crypto ATM services.
Last year, the Federal Bureau of Investigation (FBI) in the United States warned against using crypto ATMs, particularly those promoting transaction anonymity.
The Financial Conduct Authority (FCA) of the United Kingdom ordered all crypto ATMs functioning in the nation to halt operations earlier this year, alleging illicit activities.
Despite these concerns, machines for digital assets continue to make news regularly.
For example, the Neon NFT marketplace erected a first-of-its-kind vending machine for non-fungible tokens (NFTs) on 29 John Street in New York City in February of this year. This machine lets customers buy virtual treasures using fiat currencies, credit cards, and debit cards.