Crypto ATMs — one of the key infrastructure pillars for the mass adoption of cryptocurrencies — have seen a drastic reduction this year. In the first two months of 2023, the net cryptocurrency ATMs installed globally reduced by 412 machines.
Since 2014, the total number of crypto ATMs maintained a steady upward trajectory while catering to millions of users worldwide for seamless crypto-fiat conversions. For ov a year, between December 2020 to January 2022, more than 1000 crypto and Bitcoin ATMs were being installed every month. However, the bear market had an immediate impact on its growth.
. However, The year 2023 marked a new low by recording a decline in total crypto ATM installations for two consecutive months. In January 2023, the global crypto ATM network shed 289 machines, which got further cut down in February by 123 machines — 412 machines in total. While the ongoing decline was initially purely attributed to geopolitical tensions, revenue losses and a prolonged bear market, service providers have been trying out cheaper alternatives for operations.to BitAccess software. The move helped reduce operational costs related to software licensing fees, which annually cost $3 million.
ATMradars numbers peaked 39,000+. Down 1200+. You claim Depot has 7k ATMs but your own data source shows 6,350, off by about 10%. ATM haters commenting need to realize that if this purchasing method doesn't apply to them, doesn't mean we don't need them.
Bear market has it's effect on adoption.
We don't need them anyway. I'm buying my crypto on Bitfinex and keeping it in OWNR. I don't even need to stand up from my couch to do that.
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