BTC ATM Deployments Plunge to a New Low in May

According to statistics, Bitcoin (BTC) automated teller machines (ATMs), also known as BTMs, installations have been steadily decreasing in 2022, as only 202 new such ATMs were installed in May.

Ambiguous or anti-crypto policies, market saturation, commercial effects from COVID-19, and geopolitical tensions are some of the primary reasons responsible for the decrease in crypto-related ATM deployments.

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Since the beginning of this year, BTC ATM installations have fallen by 89.75% from the 1,971 new deployments recorded in December 2021. On the other hand, as stated by Coin ATM Radar, it seems as though things have taken a turn for the better. For instance, the data showed that a total of 817 Bitcoin BTMs were installed in the first five days of June.

On top of that, Coin ATM Radar also revealed that the United States accounts for 87.9% of crypto ATMs in the world and has a total of 37,826 BTMs, whereas Europe stores 1,419 cash machines, constituting 3.8% of ATMs.

For some more statistics, there are a total of 37830 crypto-related ATMs in 77 different countries deployed. In terms of BTM manufacturers, there are 44 different companies that produce BTC ATMs, including the most popular ones as Genesis Coin, General Bytes, BitAccess, Coinsource, Bitstop, and others.

In fact, BTC ATMs have been around for over a decade, with the first prototype introduced in Vancouver, Canada, 9 years ago. BTMs are little machines that allow players in the crypto world to buy, sell, or exchange Bitcoin (BTC) and other cryptocurrencies using cash or a debit card.

In other news, back in February, El Salvador announced that it would deploy 1,500 BTC ATMs around the country to more readily support the Salvadoran population.

More interestingly, earlier this year, Bitcoin of America provided its customers with the ability to sell or buy Shiba Inu (SHIB) tokens via more than 1800 crypto ATMs in the US.

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