Bitrabo Editorial
The number of Bitcoin ATMs operational across the globe has risen to a record high of over 35,000 machines, indicating a notable increase in the last month, according to Coin ATM Radar. This is a significant surge since March when the number had remained below the 34,000 mark. In April, there was a nearly two-year low recorded with only 33,389 Bitcoin ATMs. However, compared to December 2022, where the number of ATMs was over 39,000, there is a decrease in the current number, despite the rise in Bitcoin’s price. March alone saw around 3,600 Bitcoin ATMs disconnected globally.
While the trend had been declining since December, there was an increase in the number of machines in May with nearly 1400 additional units and an extra 278 in the first days of June. Bitcoin ATMs are becoming famous because users can conveniently buy and sell Bitcoins using fiat cash or cards, providing them with quick and seamless experiences. Besides, these machines do not typically require Know Your Customer (KYC) data, making them a more private option than traditional exchanges.
United States and Canada dominate distribution regions
The United States leads the way when it comes to the distribution of ATMs worldwide, with over 30,000 machines inside its borders, representing more than 85% of the total machines in operation today. Canada is the only other country exceeding 1,000 ATMs, with around 2,745 machines, according to Coin ATM Radar. Europe comes second with approximately 1,400 units installed across the region, with Spain leading the list with 286 ATMs. Nonetheless, the United Kingdom has only 16 ATMs installed, despite being the financial center in the region.
Spain tops the list of Spanish-speaking countries with 285 ATMs, followed by El Salvador with 212 machines. Mexico ranks third with 52 ATMs, while Colombia and Puerto Rico complete the top five with 37 and 32 units, respectively. Hong Kong leads with 148 ATMs in Asia, but Japan only has three ATMs installed, despite its bitcoin-friendly regulations. El Salvador leads the way in Latin America with 272 ATMs following its adoption of Bitcoin as legal tender. Africa has the lowest number of Bitcoin ATMs, with South Africa leading the way with 17, while the regional giant, Nigeria, only has two ATMs installed in its jurisdiction.
Bitcoin price analysis
Bitcoin’s price has remained stagnant in the past week, with the leading cryptocurrency trading within the $28,500 resistance zone. However, at the time of writing, Bitcoin is valued at $27,223, up 0.21% in the last 24 hours.
-Featured image from iStock, charts from CoinATMRadar and TradingView.com