The cryptocurrency ATM landscape has demonstrated remarkable resilience. Despite a notable dip, the market has rebounded, with installations surging by 17.8% over the last 12 months, bringing the global tally to 38,279. This growth inches the total closer to the record high of 39,541 set in December 2022.

Coin ATM Radar reports a net addition of 2,564 cryptocurrency ATMs in 2024, which is on track to outpace the net loss of 2,861 machines in 2023. Notably, installations increased every month between July 2023 and May 2024.

A notable dip occurred from May to June, with installations falling by 115. However, June rebounded strongly, witnessing a net increase of 377 machines. Leading operators in this space are Bitcoin Depot, Coinflip, and Athena Bitcoin, boasting 7,543, 5,057, and 2,756 machines, respectively.

The United States dominates the global crypto ATM market, hosting over 82% of the world's machines.

However, there is significant potential for growth in other regions. Canada follows with 7.7%. Australia, for instance, has seen a significant surge, increasing its installations nearly 17-fold to 1,107 machines over the last two years. At this rate, Australia is poised to surpass Europe's 1,584 ATMs, indicating a promising future for the industry.

Other countries with notable cryptocurrency ATM installations include Spain with 313 machines, Poland with 279, El Salvador with 215, and Germany with 177.

Romania, Georgia, Switzerland, Austria, and New Zealand have more than 100 ATMs. 72 out of 193 United Nations-recognized countries now host a cryptocurrency ATM.

A Period of Decline and Recovery

Between December 2022 and July 2023, the global tally of cryptocurrency ATMs fell to an 18-month low of 32,764. Coin ATM Radar's data attributes this decline, in part, to manufacturer BitAccess.

The company's net installations fell 26%, from 9,160 in August 2022 to 6,774 in January 2024. However, BitAccess has since rebounded, increasing its net installations by 1,208 machines.

"The number of cryptocurrency ATMs installed worldwide has surged 17.8% to 38,279 over the last 12 months, inching closer to its record of 39,541 set back in December 2022."

This recovery signifies a renewed interest and confidence in the cryptocurrency ATM market. As installations continue to rise, it underscores the growing global acceptance and adoption of cryptocurrencies.