The adoption of cryptocurrencies in the world is going quite well globally. However, the number of bitcoin ATMs is experiencing a different reality, with a marked reduction.

According to Brandon Mintz, CEO and founder of Bitcoin Depot (BTM), a publicly traded bitcoin ATM operator, “the trend is due to some operators closing unprofitable ATMs or going out of business.”

In this sense, it has been confirmed that the number of ATMs for the main cryptocurrency on the market, installed around the world, showed a drop this month to its lowest level since 2021.

“Since the end of last year, the number of installed crypto ATMs has decreased by 7,000, or 17 %, to 32,500,” according to AltIndex. By the end of 2022 the figure was 34,500.

The United States, the country with the largest number of bitcoin ATMs, suffered the largest decline. Currently, the US market has 26,700 ATMs. In any case, despite the reduction, the North American nation “continues to have almost 18 times more installed than all of Europe, which is home to about 1,500.”

One of the possible reasons for the decrease in the number of ATMs for bitcoin is their potentially criminal use. Criminals focused on the cryptocurrency sector find an easy way to advertise products for sale “on sites like eBay, ask buyers to deposit funds into a specific bitcoin wallet through an ATM, and then disappear.”

M.Pino

Source: cripto247

(Reference image source: Fernando Gutierrez-Juarez / dpa)

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