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 <p class="is-style-lead">2023 saw a significant decline in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> ATMs, with more than 5,700 units discontinued.</p>
 <p>This reduction marks a historic first since the initial deployment of these machines in October 2013. According to the latest data from Coin ATM Radar, the global count of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> ATMs has decreased from its peak of 39,350 in December 2022 to approximately 33,620, representing a 14.5% decline from the previous high.</p>
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   <img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2024/01/02/4586a0a346677570f217ab5071f7423d.webp" alt="crypto atm"> 
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   Bitcoin ATM Installations Growth | Source: coinatmradar.com
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 <p>Data also shows a fluctuating trend in the deployment and decommissioning of these ATMs throughout the year. January 2023 saw the removal of 1,523 ATMs, followed by 210 in February and a substantial reduction of 3,555 units in March. A brief resurgence occurred in May and June, with nearly 2,500 new installations. However, July marked the highest number of ATM removals, with 4,218 units decommissioned.</p>
 <p>Regarding market share, 10 operators manage 67% of the global <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency ATM <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a>. Bitcoin Depot leads with 6,000 ATMs, and Coinflip comes in second with nearly 4,000, followed by Bitstop and Rockitcoin. This consolidation indicates a significant concentration of these services among a few key players in the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> ATM industry and the potential challenges for new vendors to enter and sustain the market.&nbsp;</p>
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   <img loading="lazy" decoding="async" width="1024" height="353" src="https://cdn.thebittimes.com/images/2024/01/02/b7adc44507409909e6a0ef856867a78a.webp" alt="crypto atm"> 
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   Top Crypto ATM Operators | Source: Coinatmradar.com
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 <p>As the overall market is periodically coming out of the long <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> winter, it’ll be intriguing to see whether <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> ATMs also see steady growth in redeployment and installations this year. However, the current trends suggest that general consumer interest in ATMs might steadily decline for virtual assets.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/global-crypto-atm-network-shrunk-more-than-5-700-in-2023-tbt75301.html">https://thebittimes.com/global-crypto-atm-network-shrunk-more-than-5-700-in-2023-tbt75301.html</a></p>

Global crypto ATM network shrunk more than 5,700 in 2023

TheBitTimes

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