The global installation of cryptocurrency ATMs has surged by 17.8% over the past year, nearing the all-time high of 39,541 machines recorded in December 2022.
In 2024 alone, 2,564 new cryptocurrency ATMs have been installed, marking a significant turnaround from the net reduction of 2,861 machines observed in 2023, according to data from Coin ATM Radar.
Source: Coin ATM Radar
Monthly installations showed consistent growth from July 2023 to May 2024. Although there was a slight decline of 115 installations from May to June, June saw a strong rebound with a net increase of 377 installations.
Bitcoin Depot, Coinflip, and Athena Bitcoin lead the industry with 7,543, 5,057, and 2,756 cryptocurrency ATMs respectively.
Source: Coin ATM Radar
Bitcoin remains the most transacted cryptocurrency, followed by Bitcoin Cash, Ether, and Litecoin.
The United States hosts more than 82% of the world’s cryptocurrency ATMs, with Canada ranking second at 7.7%. Australia has witnessed a significant surge in installations, rising nearly 17-fold to 1,107 machines over the past two years.
With current installation trends, Australia is poised to surpass Europe, which currently has 1,584 ATMs. Other countries with notable cryptocurrency ATM installations include Spain (313), Poland (279), El Salvador (215), Germany (177), and Hong Kong (169). Countries like Romania, Georgia, Switzerland, Austria, and New Zealand also have more than 100 ATMs each.
Despite a decline in installations between December 2022 and July 2023, attributed in part to BitAccess, a cryptocurrency ATM manufacturer, the industry has shown resilience. BitAccess has rebounded with a net increase of 1,208 installations since January 2024, indicating renewed growth in the sector.
