Bitcoin ATM installation slowdown continues for fourth month in 2022

April 2022 marked the 4th consecutive month of the slowdown in installing Bitcoin (BTC) ATMs, since the slowdown started at the beginning of the entire year.

BTC ATMs serve an important purpose for that Bitcoin economy, helping users physically retrieve or deposit BTC holdings from the corresponding cash reserves.

Internet change of cryptocurrency machines number installed and removed monthly. Source: Gold coin ATM Radar

In line with the data supplied by Gold coin ATM Radar, the entire year 2021 saw the greatest global rise in the BTC ATM installations, with August witnessing its peak of two,037 ATMs internet change. Beginning in The month of january 2022, the crypto ATM internet change fell lower to at least one,687 from December’s a lot of 1,969 ATMs.

Since, the internet alternation in crypto ATM has maintained a downward trajectory, recording three-digit changes over the following several weeks in Feb (970), March (757) and April (739).

Last year’s explosive development in crypto ATMs was a result of jurisdictions like El Salvador embracing Bitcoin as legal tender, which presently hosts the 3rd-largest network of BTC ATMs following the U . s . States and Canada.

To focus on the highly untapped marketplace for crypto ATMs, El Salvador hosts 205 Chivo-branded Bank, which comes down to 70% of crypto ATMs in South Usa.

Quantity of bitcoin machines installed with time. Source: Gold coin ATM Radar

However, as formerly stated by Cointelegraph, the apparent decrease in the installations of crypto ATMs might be due to the slowdown in newer jurisdictions prepared to accept and adopt the Bitcoin ecosystem.

Quantity of cryptocurrency machines installed by manufacturer with time. Source: Gold coin ATM Radar

Genesis Gold coin maintains its lengthy-standing dominance within the crypto ATM market, representing a 41.5% share of the market. Other prominent crypto ATM manufacturers include General Bytes (21.6%), BitAccess (15.2%) and Coinsource (5.3%).

Related: Bitcoin ATM set up in Mexico’s Senate Building

On April 26, Mexico’s Senate building installed its 14th BTC ATM, showcasing the country’s growing curiosity about the crypto ecosystem.

Mexican senator Indira Kempis, that has lately suggested the legalization of Bitcoin, announced the launch from the new BTC ATM in Senate building while stating: 

“For freedom, inclusion and financial education in Mexico.”

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