UK FCA shuts down 26 crypto ATMs following coordinated investigation
The FCA — along with other law enforcement agencies — investigated 36 crypto ATM locations using powers under the Money Laundering Regulations 2017.
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Značka: CoinATMRadar
Net Bitcoin ATMs record an increase after 4 months of global downtrend
In the first four months of 2023, the net crypto ATMs worldwide declined by 5,850. In May, however, 1,397 machines were added back to the global crypto ATM network.
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Australia installs more Bitcoin ATMs than whole of Asia
Asia, which includes major economies such as China, Japan, Singapore and India, hosts 355 crypto machines, representing 1% of the total crypto ATMs installed worldwide.
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More than 3600 Bitcoin ATMs went offline to record largest monthly decline
With 3,627 crypto ATMs going down last month, March 2023 becomes the month with the largest monthly decline of crypto ATMs.
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Spain overtakes El Salvador to become third largest crypto ATM hub
The European country of Spain is officially home to the third-largest network of Bitcoin (BTC) and cryptocurrency ATMs after the United States and Canada. Spain currently hosts 215 crypto ATMs, pushing El Salvador — wi 212 crypto ATMs — down to the fourth position after surpassing the country by 3 crypto ATMs. Data from CoinATMRadar confirms that Spain represents 0.6% of the global crypto ATM installations.Crypto ATM distribution by continents and countries. Source: CoinATMRadarMoreover, the revelation places Spain as the highest contributor to crypto ATMs in Europe, which represents 14.65% of total installations in the continent, followed by Switzerland (144 ATMs), Poland (142 ATMs) and Romania (135 ATMs).Crypto ATM installation growth in Spain. Source: CoinATMRadarIn 2022 alone, Spain installed 43 crypto ATMs and has previously shared its intent to install a total of over 100 ATMs by the end of the year — taking up the total to nearly 300 crypto ATMs once completed.MediaMarkt, a German electronics retailer, and Confinity, among others, are leading the drive to install crypto ATMs across Austria, Germany, Spain and Greece. On the contrary, global crypto ATM installations saw a negative growth since September 2022 and are on the path of slow recovery at the time of writing. Calculations based on data from the last 60 days show that around seven crypto ATMs are being installed daily worldwide. Related: Crypto ATMs emerging as popular method for crypto scam payments — FBIGreece takes the sixth spot in terms of cryptocurrency ATMs, and with the influx of tourists, Bitcoin ATM operator BCash shared insights on the usage statistics in the country. Speaking to Cointelegraph, BCash managing director and co-founder, Dimitrios Tsangalidis, revealed that despite installing crypto ATMs in tourist hotspots, most usage comes from the main city area. However, the island of Crete attracts a “very loyal cryptocurrency crowd,” as explained by Tsangalidis:“There is a strong crypto community in Heraklion of Crete [which is] the location of one of our ATMs.”According to Tsangalidis, a combination of crypto winter and tourist seasons has resulted in a slowdown in terms of regular traffic in crypto ATM usage.
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Net Bitcoin ATMs growth drops globally for the first time ever
The domino effect of a prolonged bear market seeped into the Bitcoin (BTC) ATM ecosystem as September 2022 recorded negative growth in global net installations for the first time in history — primarily driven by a slowdown in the United States.The total number of Bitcoin ATMs installed over time fell to 37,980 in Sept. from an all-time high of 38,776 ATMs in August — resulting in a drop of -2.05%, as evidenced by data from CoinATMRadar. The number of Bitcoin machines installed over time. Source: CoinATMRadarData on net changes of crypto ATM installations confirm that, in September, 796 crypto ATMs were pulled off from the global network. The United States alone recorded a reduction of 825 ATMs. However, Europe, Canada and a few other jurisdictions cushioned the downfall with new installations locally.The net change of cryptocurrency machines number installed and removed monthly. Source: CoinATMRadarDespite the setback, data based on 60 days suggest that nearly 14 crypto ATMs are being installed globally per day, with Genesis Coin representing a 40.3% share of ATMs among other manufacturers. Other popular crypto ATM manufacturers include General Bytes and BitAccess.The sudden reduction in the crypto ATM installations can be attributed to geopolitical tensions among factors, including lack of regulatory clarity and market uncertainties.Related: How Bitcoin ATMs in Greece fare during a record-breaking tourist seasonAlthough crypto ATM installations have taken a temporary hit due to external factors, countries continue to show interest in having functional crypto ATMs within their borders.wMost recently, Japan decided to reintroduce crypto ATMs after 2014, spearheaded by local crypto exchange Gaia Co. Initially, new ATMs will be installed across Tokyo and Osaka. The firm plans to set up 50 BTMs across the country by August 2023. As Cointelegraph reported, Gaia became the first locally-registered crypto company to have installed crypto ATMs in Japan.
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US dominates crypto ATMs installations and BTC hash rate worldwide
Despite the myriads of state and federal regulatory hurdles faced by crypto businesses in the region, the United States plays a major role in preserving the Bitcoin (BTC) and crypto ecosystem. With China moving out of the picture following a permaban on crypto, the United States maintains the top position in terms of hash rate contribution and ATM installations worldwide. Prior to cracking down on BTC mining, China historically represented over 50% of the total hash rate up until Feb 2021. With China out of the competition, the US picked up the slack to become the highest BTC hash rate contributor — representing 37.84% of the total mining power by Jan 2022.Distribution of Bitcoin mining hash rate from September 2019 to January 2022, by country. Source: StatistaAs shown above, Chinese miners resumed operations in September 2021. However, the miners in the US continued to dominate the space while increasing their hash rate contribution month-over-month. Crypto ATM distribution by continents and countries. Source: CoinATMRadarIn addition, the US is home to the highest number of ATM installations, representing nearly 88% of the total crypto ATM installations worldwide. Over 90% of the overall crypto ATMs installed over the past several months are in the United States. Data from Coin ATM Radar confirms that the trend continues to July as the US saw the installation of 641 out of the 710 Bitcoin and crypto ATMs installed in the first 10 days of the month.Further strengthening North America’s position in the crypto ecosystem, Canada represents the second-largest network of crypto ATMs after the United States. Outside of the Americas, Spain houses the highest number of crypto ATMs, 210 or 0.5% of the total active ATMs.Related: Global GPU price drops to compensate for falling Bitcoin mining revenueThe confluence of a global chip shortage and the coronavirus pandemic momentarily shot up prices of the most important part of a mining rig — the graphics processing unit (GPU). However, with prices falling down below MSRPs and a hash rate that compliments the fall, miners found themselves a window of opportunity to procure their dream mining equipment.GPU price trend over the past one year. Source: TechSpotIn May alone, GPU prices dropped over 15% on average, additionally forcing sellers on the secondary markets to bring down their exorbitant prices on used mining rigs.
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Bitcoin ecosystem makes a U-turn recovery in global ATM installations
Bitcoin (BTC) ATM installations have marked a new comeback as June 2022 saw the reversal of the five-month-long downward trajectory for the first time this year. The global ATM installations worldwide fell consistently throughout the year, with May reporting the lowest number of 205 ATM installations. However, June saw the installation of over 882 ATM installations in just the first ten days.Chart showing the net change of cryptocurrency machines number installed and removed monthly. Source: Coin ATM RadarAs evidenced by the above graph, May 2022’s drop reached a range that was last seen three years ago in 2019. Over the last two years, in 2020 and 2021, Bitcoin ATM installations grew consistently owing to friendlier regulatory landscapes amid a rewarding market when numerous cryptocurrencies attained their all-time highs momentarily.In addition, the use of Bitcoin as legal tender in El Salvador contributed to the spike in crypto ATM installations in the last year. China imposing a blanket on crypto trading and mining, too, contributed to the temporary slowdown in the global ATM installation numbers. Surprisingly, despite the regulatory hurdles, China came out as the 2nd top Bitcoin mining hub despite the crypto ban.Crypto ATM installations peaked in 2021, with December witnessing 1971 ATMs installed in a month. However, up until June 2022, the numbers dropped 89.75% by May, which was followed by a swift recovery in the following month. According to Coin ATM Radar’s gauge scale, which is based on the data collected over the last two months, nearly 23 crypto ATMs are being installed per day on an average globally.A chart showing the speed of crypto machines installed over time. Source: Coin ATM RadarData also confirms that there are currently 38,000 operational ATMs installed across the world at the time of writing. Crypto ATMs serve a crucial purpose for the Bitcoin and crypto economy, allowing users and investors to exchange their fiat currencies against Bitcoin and vice versa. Out of the lot, the United States represents 87.9% of the total crypto ATM network, i.e., 33,403 ATMs. Prominent manufacturers that lead this space in terms of market share are Genesis Coin (40.9%), General Bytes (21.6%), BitAccess (16.1%), Coinsource (5.4%), and Bitstop (4.8%). While ATM transactions do not contribute to the overall liquidity of the Bitcoin network, it helps investors procure crypto assets against fiat currencies. As a result, having local crypto ATMs drive the adoption of cryptocurrencies into the mainstream.Along similar lines, El Salvador, after accepting Bitcoin as legal tender, witnessed a spike in tourism. According to reports, El Salvador’s tourism has grown by 30% since the Bitcoin Law was implemented.Related: Falling Bitcoin price doesn’t affect El Salvador: ‘Now it’s time to buy more,’ reveals Deputy Dania GonzalezIn a recent discussion with Cointelegraph, Dania Gonzalez, Deputy of the Republic of El Salvador, recently revealed the country’s plan to buy more Bitcoin amid falling prices.”What Nayib Bukele did was buy Bitcoins and make a profit at a certain strategic moment,” Gonzalez said. Gonzalez also indicated that El Salvador President Nayib Bukele’s strategy has already proven to be successful in terms of socioeconomic impact by citing two ventures — a veterinary hospital and a public school — that were made possible thanks to calculated BTC investments.
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Bitcoin ATM installations record low in May, biggest drop since 2019
Bitcoin (BTC) ATM installations across the globe have seen a steep decline throughout the year 2022, with May recording just 202 new BTC ATMs, a range last seen three ago in 2019.Over the past five months since January, Bitcoin ATM installations saw a gradual slowdown, eventually falling down 89.75% from December 2021’s 1971 new installations. However, data from Coin ATM Radar reveal an evident comeback in the installation numbers as the world saw 817 Bitcoin ATMs getting installed in June — in just the first five days.Net change of cryptocurrency machines number installed and removed monthly. Source: Coin ATM RadarSome of the key factors contributing to the slowdown of crypto ATM installations include geopolitical tensions across the world, unclear or anti-crypto regulations, market saturation and business impact due to the ongoing coronavirus pandemic. Coin ATM Radar’s data confirms that the United States is home to 87.9% of the total 37,826 crypto ATMs worldwide. Europe, as a continent, houses a network of 1,419 ATMs — representing 3.8% of the global ATM installations.Number of cryptocurrency machines installed by manufacturer over time. Source: Coin ATM RadarCrypto ATM manufacturer Genesis Coin maintains its position as the leader in terms of the market share, representing 41% of the total operational crypto ATMs across the globe. Other manufacturers with prominent market share include General Bytes (21.6%), BitAccess (16%), Coinsource (5.4%) and Bitstop (4.7%).Related: Bitcoin Lightning Network capacity crosses 3900 BTC marking a new ATHWhile real-world challenges may have a momentary impact on Bitcoin’s physical expansion via ATMs, at its core, the Bitcoin network continues to outperform its previous records in securing, decentralizing and speeding up the impenetrable peer-to-peer (P2P) network. Cumulative Bitcoin capacity across all channels. Source: BitcoinVisuals nodeAs Cointelegraph reported based on data from Bitcoin Visuals, the Bitcoin Lightning Network (LN) capacity attained an all-time high of 3915.776 BTC — further improving BTC transaction speeds and reducing fees over the layer-2 protocol. The Bitcoin LN was first implemented into the Bitcoin mainnet in 2018 to address Bitcoin’s infamous scalability issues.
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Bitcoin ATM installation slowdown continues for 4th month in 2022
April 2022 marked the fourth consecutive month of a slowdown in the installation of Bitcoin (BTC) ATMs, ever since the slowdown began at the start of the year.BTC ATMs serve a crucial purpose for the Bitcoin economy, helping users physically retrieve or deposit BTC holdings against the corresponding cash reserves.Net change of cryptocurrency machines number installed and removed monthly. Source: Coin ATM RadarBased on the data provided by Coin ATM Radar, the year 2021 saw the highest global increase in the BTC ATM installations, with August witnessing its peak of 2,037 ATMs net change. Starting in January 2022, the crypto ATM net change fell down to 1,687 from December’s high of 1,969 ATMs.Ever since, the net change in crypto ATM has maintained a downward trajectory, recording three-digit changes across the following months in February (970), March (757) and April (739).Last year’s explosive growth in crypto ATMs was a direct result of jurisdictions like El Salvador embracing Bitcoin as legal tender, which currently hosts the third-largest network of BTC ATMs after the United States and Canada. To highlight the highly untapped market for crypto ATMs, El Salvador hosts 205 Chivo-branded ATM machine, which amounts to 70% of all crypto ATMs in South America.Number of bitcoin machines installed over time. Source: Coin ATM RadarHowever, as previously pointed out by Cointelegraph, the evident reduction in the installations of crypto ATMs could be a result of the slowdown in newer jurisdictions willing to accept and adopt the Bitcoin ecosystem.Number of cryptocurrency machines installed by manufacturer over time. Source: Coin ATM RadarGenesis Coin maintains its long-standing dominance in the crypto ATM market, representing a 41.5% market share. Other prominent crypto ATM manufacturers include General Bytes (21.6%), BitAccess (15.2%) and Coinsource (5.3%).Related: Bitcoin ATM installed in Mexico’s Senate BuildingOn April 26, Mexico’s Senate building installed its 14th BTC ATM, showcasing the country’s increasing interest in the crypto ecosystem. Por la libertad, inclusión y educación financiera en México.#ToTheMoon @senadomexicano pic.twitter.com/QytQn58A3i— Indira Kempis de I. (@IndiraKempis) April 26, 2022Mexican senator Indira Kempis, who has recently proposed the legalization of Bitcoin, announced the launch of the new BTC ATM in Senate building while stating: “For freedom, inclusion and financial education in Mexico.”
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A dozen Bitcoin ATMs planned at the largest EU electronics retailer
Austrians have “sufficient funds” for more Bitcoin ATMs — hat’s the verdict that MediaMarkt, a German electronics retailer, reached following a successful Bitcoin ATM pilot in Austria. MediaMarkt will roll out Bitcoin (BTC) ATMs in 12 branches across the country, including Seiersberg and Klagenfurt. According to the Austrian newspaper Kleine Zeitung, the pilot project, which featured a lone Bitcoin ATM in a MediaMarkt shop, proved that “Bitcoin ATMs in shops offer an opportunity to attract new customers.” As Europe’s largest consumer electronics retailer, MediaMarkt operates in 13 countries, with over 850 stores and revenue exceeding 21 billion euros ($23 billion) in 2021. MediaMarkt partnered with Coinfinity, an Austrian Bitcoin company, to manage the pilot and subsequent rollout of the ATMs.Confinity and its spinoff ATM company, Kurant, manage over 200 Bitcoin ATMs in Austria, Germany, Spain and Greece. Cointelegraph reached out to Coinfinity for comment and has not yet received a reply. Bitcoin ATMs by Kurant (Coinfinity) across Europe. Source: KurantBitcoin ATMs (automated teller machines), sometimes jokingly referred to as BTMs (Bitcoin teller machines), offer Bitcoin enthusiasts a means to cash out their BTC or deposit fiat. By simply scanning a wallet address, they can receive satoshis (the smallest denomination of BTC) or cash.The news of more Bitcoin ATMs coming to Austria is welcome, considering that the growth in Bitcoin ATMs around the world has slowed in 2022. Related: Santo Blockchain to deliver 50 Bitcoin ATMs to PanamaThe United Kingdom recently clamped down on non-registered ATMs as its Financial Conduct Authority takes a tougher stance on Bitcoin ATMs due to a lack of regulatory structure.Bitcoin ATM. Source: BitBaseFor BitBase, a Spanish Bitcoin ATM provider seeking to operate in Portugal, the group has established physical outlets in Lisbon, but regulators have stalled official openings. In light of the EU’s “attack” on noncustodial wallets, the future of Bitcoin and crypto in the EU is uncertain. Given that Austria will add 12 more Bitcoin ATMs to its total of over 110, the rollout of Bitcoin ATMs in Europe may just be getting started.
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Bitcoin ATM installations slow down in early 2022, making a first in history
Over the last six months, Bitcoin (BTC) recorded numerous milestones — El Salvador’s mainstream adoption, a new all-time high of $69,000 and a stronger-than-ever network hash rate. However, for the first time in history, global Bitcoin ATM installations in the first two months have slowed down when compared to the preceding year.Bitcoin ATM installations in the first two months of the year have historically increased year-over-year, as evidenced by data from Coin ATM Radar. The trend, however, breaks this year.Overall Bitcoin ATM installations. Source: Coin ATM RadarConsidering only January and February 2022, a total of 1,817 crypto ATMs have been installed worldwide. In the same timeframe last year, 2,435 crypto ATMs were installed, which is 618 ATMs more when compared to this year.In 2020, only 760 ATMs were installed in this timeframe, which overshadowed 2019’s 250 ATM installations. One of the main reasons for the momentary slowdown can be attributed to the lack of involvement from newer jurisdictions. For example, the United States alone contributed to 93% of the total global crypto ATM installations in 2022 with 1,689 new ATMs.Global crypto ATM distribution. Source: Coin ATM RadarOn the other hand, Bitcoin ATMs in Europe were reduced by 1 ATM in the first two months, going down to a total of 1,397 ATMs. At the time of writing, North America represents over 95% of total crypto ATM installations with 34,284 ATMs.World map of Bitcoin ATMs. Source: Coin ATM RadarThere are a total of 36,067 ATMs installed currently. Despite a slower start to the year, crypto ATM installations are expected to grow as jurisdictions such as El Salvador plans to deploy 1,500 Bitcoin ATMs. Unless more governments amp up their efforts to crypto adoption, the ATM installations will find it difficult to maintain an upward trajectory as existing crypto-friendly countries reach saturation in terms of installing new crypto and Bitcoin ATMs.Related: Tourism in El Salvador up 30% since Bitcoin adoption, minister saysOne of the immediate positive effects of Bitcoin adoption for El Salvador is a sudden spike on tourism. Salvadoran Tourism Minister Morena Valdez said on Feb. 22 that the country’s tourism industry surged more than 30% since the adoption of the Bitcoin law in September 2021.Boom! El Salvador’s tourism has grown by 30% since the Bitcoin Lawhttps://t.co/i8t6JRHD1a#ElSalvador #BitcoinLaw #bitcoin #bitcoininvestment #Abtc #tourism #BitcoinCity #blockchain #investments— Mónica Taher ⚡️ (@monicataher) February 22, 2022As Cointelegraph reported, Valdez said that El Salvador’s tourism growth exceeded the government’s expectations, reaching 1.4 million visitors instead of 1.1 million tourists, adding: “We had projected $800,000 in foreign exchange but we obtained more than $1,400 million of income in foreign currency”
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