Nearly 3000 crypto ATMs were installed in the first three months of 2022
America continues to be the global hotspot for crypto ATMs, with more than 90 percent of all global machines in North America.
There were 2,759 new ATMs that convert cryptocurrencies to fiat currency built in the first three months of 2022. According to industry tracker Crypto ATM Radar, these ATMs support Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dash, Monero, Zcash, Dogecoin, Tether, and Ripple's XRP.
Globally, there are 36,659 ATMs in 76 countries, with more than 90 percent of them in the United States of America. USA has 32,623 crypto ATMs, followed by Canada with 2,439 ATMs. El Salvador, that was recently in the news for making Bitcoin legal tender, has 204 crypto-to-fiat ATMs.
At the moment, there are 612 operators behind these ATMs, and 43 ATM manufacturers worldwide. Bitcoin Depot is the biggest operator in the space with 7,001 installed worldwide, which translates to a 19.1 percent market share. Meanwhile, Genesis Coin are the biggest ATM manufacturers worldwide, with 41.6 percent of the market.
It was recently announced that all 1,800 Bitcoin of America ATMs will now be able to convert Shiba Inu tokens at their respective outlets. Bitcoin of America is available in 31 states in the United States of America.
There were 20,000 cryptocurrency ATMs built globally in 2021.
Edited by Anju Narayanan