The number of Bitcoin (BTC) ATMs in the world has seen a new rise. The number of ATMs of the digital currency rose to 38,308 during the month of June and approached its ATH of December 2022, when the statistic raised reached 39,541.
Coinciding with the growth in the price of bitcoin and the implementation of ETF financial products based on the cryptocurrency in various countries, the number of bitcoin ATMs grew again during 2024.
Evolution of the number of Bitcoin ATMs in the world. Source: CoinATMradar.
During the first seven months of 2024, 2,546 new cryptocurrency ATMs were installed. However, the upward curve of the installation of these devices began in July 2023, when 32,471 of them were enabled worldwide. The registered increase implied a rise of 17.8% in the last 12 months.
The number reported in July 2023 was the lowest since November 2021. In turn, the decline from December 2022 to July 2023 was the sharpest drop in the number of bitcoin ATMs historically.
Initially, these types of devices allowed users to access cryptocurrencies and bitcoin without any major requirements. As some countries advanced their regulations on digital assets, the use of bitcoin ATMs fell to a final low point in July 2023.
Australia leads the rise of Bitcoin ATMs
The curious thing is that the increase in ATMs in the world is led by Australia. There, by June 2023, there were 255 bitcoin ATMs, while today there are more than 1,000, making it the third country with the largest number of these devices in the world.
In Australia, nearly 60% of Bitcoin ATMs are provided by Coinflip. This operator is also the second largest provider of Bitcoin ATMs in the US, behind Bitcoin Depot.
Bitcoin Depot does not offer its ATMs in Australia. Coinflip could therefore have considered expanding its services to the Oceanic country, aiming to lead a market that was not yet so developed.
In 2022, and in line with the dates when the installation of new ATMs in Australia began to increase, the Coinflip company had already begun installing its bitcoin ATMs and thus continues to increase the number.
This amplification of the number of bitcoin ATMs in Australia indicates a growing national interest in cryptocurrencies. As more people and organizations adopt digital currencies, the demand for accessibility to them does as well.
Over the past few years, Australian citizens have grown in interest in digital assets. So much so that 1 in 4 of them use them, according to a report by the Statista platform.
Despite Australia's growth, the United States continues to lead the ATM landscape with a total of 31,832. This figure represents 82.6% of the total. In second and third place are Canada, now followed by Australia, with 3,028 and 1,109, respectively.
Bitcoin ATM percentage by country. Source: CoinATMradar
Among Latin American countries, El Salvador has the largest number of bitcoin ATMs (215).
