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Bitcoin ATM installations slow down in early 2022, making a first in history

2022/03/01 09:29

According to Cointelegraph, for the first time in history, global Bitcoin ATM installations in the first two months have slowed down when compared to the preceding year. Bitcoin ATM installations in the first two months of the year have historically increased year-over-year, as evidenced by data from Coin ATM Radar. The trend, however, breaks this year. Considering only January and February 2022, a total of 1,817 crypto ATMs have been installed worldwide. In the same timeframe last year, 2,435 crypto ATMs were installed, which is 618 ATMs more when compared to this year. In 2020, only 760 ATMs were installed in this timeframe, which overshadowed 2019’s 250 ATM installations. One of the main reasons for the momentary slowdown can be attributed to the lack of involvement from newer jurisdictions. Unless more governments amp up their efforts to crypto adoption, the ATM installations will find it difficult to maintain an upward trajectory as existing crypto-friendly countries reach saturation in terms of installing new crypto and Bitcoin ATMs.
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