The world of cryptocurrencies has seen a meteoric rise in recent years, and at the forefront of this financial revolution are Bitcoin ATMs. These crypto-automated teller machines have played a pivotal role in enabling enthusiasts and newcomers to access digital assets.
However, their numbers have not remained static; they’ve danced to the tune of geopolitical tensions, global inflation, and operational costs. In this article, we’ll take a fascinating journey through time and space to explore the evolving landscape of Bitcoin ATMs.
2013: A Pioneering Start in Vancouver
Our journey begins in 2013 when the very first Bitcoin ATM was installed in Vancouver, Canada. This historic moment marked the inception of an innovative era in financial technology, offering individuals the ability to buy and sell Bitcoin with unparalleled convenience.
2015: 500 Bitcoin ATMs Worldwide
Two years later, in 2015, the Bitcoin ATM network was still in its infancy, with just 500 machines scattered across the globe. This modest figure reflected the cautious adoption of cryptocurrencies at the time.
2017: Approaching 2,000 ATMs
Fast forward to 2017, and the Bitcoin ATM landscape experienced exponential growth. The number of Bitcoin ATMs reached almost 2,000 worldwide, underscoring the surging interest in digital assets.
2018: The Bear Market and Its Impact
The year 2018 brought a significant shift. The crypto market experienced a bearish trend, causing the rapid expansion of Bitcoin ATMs to come to a halt. However, this pause was merely a brief interruption.
2020: Over 12,600 Worldwide
By the end of 2020, the Bitcoin ATM network had not only recovered but had surpassed all previous records. With more than 12,600 crypto-automated teller machines worldwide, these kiosks had become tangible access points to the digital asset realm.
2021: Over 20,000 Worldwide
The following year, in 2021, the Bitcoin ATM count soared to over 20,000 globally. Interestingly, these machines found their place not only in technologically advanced nations but also in struggling economies, providing financial alternatives to those in need.
July-December 2022: A Period of Consolidation
The latter part of 2022 was marked by a period of consolidation. Just 94 Bitcoin ATMs were added to the global network, while more than 5,300 were removed, bringing the total number down to approximately 33,800 worldwide. This phase underscored the dynamic nature of the Bitcoin ATM landscape.
November 1, 2022: Nearing 39,000 Worldwide
On November 1, 2022, Bitcoin ATMs stood at a remarkable number, nearing 39,000 worldwide. This milestone highlighted these machines’ enduring popularity and relevance in the ever-evolving crypto ecosystem.
May 2023: A Turnaround with 1,400 Net Installations
Our journey through time and space leads us to May 2023, where we witnessed a notable turnaround. Nearly 1,400 net installations were recorded, breaking a year-long trend of declining Bitcoin and crypto ATMs worldwide. This resurgence breathed new life into the Bitcoin ATM network.
Spain and Australia Lead the Way
Throughout this journey, we’ve seen Bitcoin ATMs rise and fall in numbers, but one thing remains clear: they continue to play a vital role in democratizing access to cryptocurrencies. Notably, countries like Spain and Australia have taken the lead in crypto ATM installations, showcasing the global appeal and potential of these digital asset access points.
As a writer, Ruben is an advocate of blockchain technology and cryptocurrency in general. He writes about all things from cryptography to economics, with a focus on how it applies to cryptocurrencies. He is also passionate about writing about topics such as decentralization, open-sourced software development, and copyright law.