More than 3,600 bitcoin ATMs shut down in March

More than 3,600 bitcoin ATMs shut down in March

March 2023 became the month with the highest number of crypto ATM outages ever.

Bitcoin’s recent price increase has not stopped bitcoin ATMs from disappearing. In March of this year alone, there were 3,3627 bitcoin ATMs shutting down.

Currently, according to Coin ATM Radar statistics, there are only 33,727 bitcoin ATMs in operation.

Over the past 10 years, since the first bitcoin ATM was launched on October 29, 2013, the change in installed machines and removed machines has mostly been positive, meaning the total number of ATMs Bitcoins around the world increase steadily. However, the trend is reversing, bitcoin ATMs being dismantled are increasing sharply, according to data from Coin ATM Radar.

atm bitcoin
Net change of bitcoin ATMs installed and removed monthly. Source: Coin ATM Radar

“Crypto ATM installs fell in the four months from September 2022 to March 2023. With 3,627 bitcoin ATMs shutting down last month, March 2023 stood out as the month of decline. biggest month,” according to Coin ATM Radar.

bitcoin atm machine
Number of installed bitcoin machines over time. Source: Coin ATM Radar

The chart above shows the sudden drop in the total number of crypto ATMs in March.

The positive, however, is that there were 37 bitcoin ATMs installed as of April 1. The current market leaders in crypto ATM production are General Bytes, BitAccess, and Genesis Coin.

See also: Binance.US users have difficulty depositing and withdrawing US dollars

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