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Bitcoin ATM installations face halt in early 2022

In the first two months of 2022, 1,817 crypto ATMs were established throughout the world, while in the same time frame, 2,435 crypto ATMs were installed in 2021.

For the first time in history, worldwide Bitcoin ATM installations have declined in the first two months as compared to the previous year. According to data, Bitcoin ATM installations have traditionally grown year over year in the first two months of the year. This year, though, the tendency broke. In January and February of 2022, a total of 1,817 crypto ATMs were established globally. Last year, 2,435 crypto ATMs were installed within the same time period, which is 618 more ATMs than this year. Only 760 ATMs were deployed in this timeframe in 2020, outnumbering the 250 ATM installations in 2019.

One of the primary causes of the current slowdown can be attributed to a lack of participation from emerging jurisdictions. For example, the United States alone generated 93 percent of total global crypto ATM installations in 2022, with 1,689 new ATMs.In Europe, however, the number of Bitcoin ATMs fell by one in the first two months, to a total of 1,397. North America accounted for more than 95% of total crypto ATM installations, with 34,284 ATMs. There are now 36,067 ATMs in operation. Despite a poor start to the year, crypto ATM installations are projected to increase as governments such as El Salvador intend to install 1,500 Bitcoin ATMs.

Unless other governments increase their efforts to promote crypto adoption, ATM installations may struggle to sustain an upward trend as existing crypto-friendly nations hit saturation in terms of installing new crypto and Bitcoin ATMs.

 

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Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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