BITCOIN ATMS FUTURE STRUGGLES AS CRYPTO MARKET CONTINUES TO DIP

Bitcoin ATMs Future Struggles As Crypto Market Continues To Dip

OCTOBER 1, 2022 BY HENNESSY AJANG


Recent dips within the cryptocurrency market have led to decreasing number of Bitcoin ATM machines. It decreased by 2% in September compared to its all-time high back in August.

As shown in data gathered from CoinATMRadar, there are now only 37,980 active Bitcoin ATMs worldwide today – down from 38,776 that were running just last month.
The popularity of Bitcoin ATMs was increased steadily within the past few years thanks to how easy it's for people to access them and invest in cryptocurrencies without browsing Know Your Customer (KYC) procedures.

Because of recent drops within the value of Bitcoin and other cryptocurrencies, which have continued since the start of 2022 thanks to rising inflation and a financial organization progressing to raise interest rates, many investors avoid riskier assets out of fear. Therefore, significant profits were lost as Bitcoin kept going downhill on the roller coaster.

Installations of cryptocurrency ATMs skyrocketed between January 2020 and January 2022, over quintupling to 34,388 devices worldwide. After years of increased demands, the Bitcoin market finally wedged with many Bitcoin ATM networks.

September 2022 marked one in all all-time low installation rates worldwide, despite the very fact that there are already near 39,000 ATMs operating worldwide – representing a 3,818% growth since 2017.

Down Slide Of Bitcoin ATM Networks
There are 38181 crypto ATMs currently operating; 95% of those are located in North America, with about 87.9% of the market share for crypto ATMs visiting the U.S., Canada having 6.3%, and Europe having 3.8%.

In addition, data about the decrease in crypto ATM installations for the month of September show that 796 machines were faraway from the worldwide network, and most of these machines came from just America alone.

In spite of this setback, there has been a rise of latest installations on the bottom all across Europe and Canada similarlythe info shows that as of the start of the new month of October, there has been a rise of 201 installations.

CoinATMRadar’s speed chart indicates that, on average, fourteen(13.9) new crypto ATMs are installed daily. The speed is measured employing a gauge scale that's supported the last 60 days, whereas the speed relies on the previous seven days.

Moreover, in keeping with current statistics from the worldwide crypto-ATM market, Genesis Coin leads the marketplace for the manufacturing of cryptocurrency ATMs because it's a 40.3% share of this segment. General Bytes is in second place with 23.1%; after them, Bitaccess (15%), Coinsource (5.2%), Bitstop (5.7%), Bytefederal (2.7%), et al. 8.2%.

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Hennessy Ajang

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