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Bitcoin ATM installations slow down in early 2022, making a first in history

In the first two months of the year, worldwide, only 1,817 cryptocurrency ATMs were installed. This figure is relatively low compared to the number of cryptocurrency distributors installed last year: 2,435 devices.

Bitcoin ATM installations slow down in early 2022, making a first in history


A trend that is interrupted

The last six months have been significant for bitcoin (BTC). During this period, there were various situations: adoption of the digital asset by the general public in El Salvador, a new all-time high of $69,000 and the network hash rate higher than ever. What an intense period! However, not everything has been rosy for BTC, as the number of installed ATMs has decreased.

Usually, every year, during the first two months, several vending machines are installed all over the world. It had become a real trend, and everyone was used to it. However, as evidenced by data from Coin ATM Radar, the trend has come to a halt.

Looking only at the months of January and February 2022, a total of 1,817 BTC ATMs were installed worldwide. During the same period last year, 2,435 ATMs were installed, up 618 from this year.

The reason for the decline in the number of vending machines

What justifies the decrease in the number of BTC vending machines installed? Analysts give a multitude of reasons. However, there is only one that seems most plausible. This is the weak participation of jurisdictions in the different countries. For example, in 2019, the United States alone contributed 93% of the total distributor installations in the world. This is not the case in 2022, since there are only 1,689 distributors in the country (this figure includes devices that had been installed in previous years). What is this due to? No doubt the difficulties encountered by the authorities in establishing a regulatory framework for cryptocurrencies.

The statistics are also alarming on a continental scale. In Europe, BTC ATMs have been reduced. Now the total is just 1,397 devices . Currently, as of this writing, North America is the part of the world with the most bitcoin (BTC) ATMs. With its 34,284 devices, it represents more than 95% of total installations.

The number of bitcoin (BTC) ATMs installed around the world continues to decline year on year. According to professionals, the reason is simple: the courts are involved a little less in this area than in previous years. Meanwhile, North America tops the ranking of regions with the highest number of BTC ATMs.

Source: Cointelegraph

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