Crypto ATMs Witness a Decline in 2022

Key Insights

• Crypto Presales indicate a decline in the number of crypto ATM installations.
• USA and Canada are the first two countries with the maximum number of ATMs.
• Bitaccess is the largest player in the ATM manufacturing industry.

 

Based on a report by Crypto Presales, the first eleven months of 2022 saw 6100 crypto ATM installations. Though the figures might seem outstanding, it is the opposite. The report indicates a decrease in the number of ATMs installed in comparison to 2021. The data also shows the USA to have the highest number of ATMs, accounting for 90% of the total number of ATMs installed. 

Fewer Crypto ATMs in 2022

According to the report by Crypto Presales, the installation of ATMs decreased in comparison with 2021. The report statistically shows 2021 had 20,300 newly installed ATMs. The total number of newly installed and existing ATMs accounted for 32,600 ATMs.

The decline in the number of Bitcoin and crypto ATMs is not surprising. The bearish trend of the crypto market with high volatility can be seen as one of the most predominant factors behind such a fall.

Furthermore, the bearish crypto market also caused investors to reduce their investments in crypto tokens, with the latter reaching an all-time low. No wonder the rapid fall in the price of crypto tokens serves to be a significant reason for the decrease in ATMs.

Further, the fall of Terra, UST, FTX, and LUNA could reduce the figures even more. 

The report also reveals that the USA has the highest number of crypto ATMs. The country recorded 90% of the total crypto and bitcoin ATMs installed in 2022.

The country posits itself in the first position in ATM installations. The report also indicates Canada as the country to have the second-highest number of ATMs. All the rest of the nations have close to 300 ATM installations in the current year. 

Giants of the ATM Manufacturing Industry: Bitaccess

While the report indicates a detailed statistic of the total number of Bitcoin and crypto ATMs installed in 2022, it also highlights the major players in the ATM manufacturing industry.

The report indicates Bitaccess is the largest player in ATM manufacturing, currently having 12000 ATMs worldwide. The company currently has a market share of 33%, followed by General Bytes, with a market share of 23%.

One must also note that the total statistics of crypto ATMs installed in 2022 support several crypto tokens. According to the report, 82% of the ATMs support altcoins, with the rest supporting Litecoins or Ethereum. Very few ATMs support Dogecoin, accounting for 39% of the total ATMs installed in 2022. 

Evidently, the report offers a detailed and insightful understanding of the crypto market, along with precise statistics of the number and types of crypto ATMs installed.