Jan 12, 2023 08:00:00

The number of Bitcoin-compatible ATMs will explode from 2021, but 2022 will be almost flat and it will be winter

by

BTC Keychain

ATMs dedicated to virtual currency, which can buy and sell virtual currency ' Bitcoin ' without using exchanges or dedicated wallets, have been increasing in number all over the world since their first appearance in 2013. In particular, while it increased rapidly from the beginning of 2021 to 2022, the price of Bitcoin dropped sharply around May 2022, dropping 55% from its peak, and on November 11, 2022, virtual Due to the fact that FTX, a major currency exchange, has filed for bankruptcy proceedings under U.S. federal law, the number of Bitcoin ATMs is entering a 'winter period' in which little growth will occur in 2022. This is made clear by the data of the service ' Coin ATM Radar ' that allows you to check the installation location of the ATM on a map.

Bitcoin ATM Installation Growth
https://coinatmradar.com/charts/growth/

The Block: Bitcoin ATM installations flatline as crypto winter bites
https://www.theblock.co/post/200089/bitcoin-atm-installations-flatline

'Robocoin', the world's first Bitcoin-enabled ATM, appeared in Vancouver, Canada in October 2013. Robocoin was found to have exchanged 100,000 Canadian dollars (about 9.88 million yen) in just one week after installation, and it was decided to install a Bitcoin ATM in the United States at the beginning of the next year.

The world's first Bitcoin compatible ATM 'Robocoin' appeared, virtual currency advanced to the real world - GIGAZINE

In 2017, about four years after the appearance of Bitcoin ATMs, a service 'Coin ATM Radar' that allows you to check the location of Bitcoin ATMs installed all over the world has also appeared. According to Coin ATM Radar, as of 2017, there are 1,369 ATMs that can trade Bitcoin and other cryptocurrencies, and 36,345 service providers that do not have Bitcoin ATMs but can trade Bitcoin with cash. was proliferating.

ATMs dedicated to virtual currencies such as Bitcoin and Ethereum are proliferating - GIGAZINE

Bitcoin ATMs are proliferating rapidly around 2020, and according to Coin ATM Radar's graph, the number of Bitcoin ATMs worldwide was 6,363 in January 2020, but by January 2021 It has increased rapidly to 14,058 units, and in January 2022, it was 34,367 units, showing an explosive increase that more than doubled every year.

However, the graph from 2022 to 2023 is almost flat, and the number of installed units as of January 2023 is 38,730. increase.

In Coin ATM Radar, you can also see the number of installations by country graphically. The increase and decrease in the number of installations in the United States is almost in line with the graph of the number of installations in the world, and the rate of increase has been declining since the beginning of 2022. You can

On the other hand, the Canadian graph shows a continuation of a gradual upward trend, although the momentum has subsided over 2021-2022.

In addition, the number of installations in Spain, Poland, Switzerland, etc. is also on a moderate increase similar to Canada, and it can be seen that the number of installations in Australia has tripled since the latter half of 2022.