The number of crypto ATMs installed worldwide now exceeds 38,000, nearing an all-time high. Despite nearly 3,000 ATMs being removed globally in 2023, this year has seen 2,564 installations so far.
According to Cointelegraph, the number of digital currency ATMs worldwide rose by 17.8% to 38,279 over the past 12 months. This figure is close to the record high of 39,541 ATMs documented in December 2022. These ATMs allow users to withdraw cash in exchange for digital currencies in their accounts.
Global growth resumed positively after about 10 months of negative trends, during which more ATMs were removed than installed. This downturn was partly due to actions by U.S. law enforcement agencies actively decommissioning ATMs following cases of extortion and fraud. However, the reasons behind the recent sharp decline in numbers remain unclear.
Although the total number of ATMs dropped by 115 last May, there was a strong recovery in June, with a net increase of 377.
The world’s leading companies are Athena Bitcoin, Bitcoin Depot, and Coinflip, operating approximately 2,756, 5,057, and 7,543 machines, respectively.
Leading Countries
Data from CoinATMRadar, which provides a global ATM map for various cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Dogecoin (DOGE), and others, shows that over 82% of the world’s crypto ATMs are in the United States. Canada follows, with 7.7% of the ATMs.
Australia experienced a surge in installations over the past two years, with its number of ATMs increasing nearly 17-fold to 1,107 machines. If this pace continues, Australia will surpass the 1,584 ATMs across the entire continent of Europe.
Other leading countries with a significant number of ATMs include Spain (313), Poland (279), El Salvador (215), Poland again (211), Germany (177), and Hong Kong (169). Romania, Georgia, Switzerland, Austria, and New Zealand also feature prominently, each with more than 100 ATMs.
Out of the 193 countries recognized by the UN, only about 72 have digital currency ATMs, highlighting a disparity between continents like North America and Australia compared to South America and Africa, which are relatively behind.
Additionally, there are over 40 ATM manufacturers and approximately 448 companies operating them globally.
In Israel, a country with significantly smaller land area compared to those mentioned above, there are about 14 ATMs, mainly located in major cities such as Tel Aviv, Haifa, Jerusalem, Beersheba, and Netanya.
Solution for Foreign Workers?
These ATMs, used by many people in Israel and worldwide, serve as a convenient and relatively efficient bridge for transferring funds overseas. Their use and value can be attributed to foreign workers, some of whom prefer to send money to their families and home countries by converting local currency to Bitcoin (or other cryptocurrencies) and then back to local money in their homeland.
Although some ATMs charge a relatively high fee, the alternative of the traditional system for sending money abroad, along with various currency conversions, can be more costly and cumbersome for them.
Read More: Surge in global bitcoin ATMs: How many are in Israel?