94 Bitcoin ATMs Added in Last 6 Months Despite Global Slowdown

• The global Bitcoin ATM network added just 94 Bitcoin ATMs over the past six months from July 2022 to the end of 2022.
• Countries such as Spain, Australia, United States, and Canada have taken the lead in crypto ATM installations.
• The year-long bear market in 2022, geopolitical tensions, and global inflation have hindered various initiatives aiding the growth of the entire crypto ecosystem.

The usage of Bitcoin ATMs has been on the rise ever since they were introduced to the market. As an afterthought to Satoshi Nakamoto’s vision of sound money, they are now considered one of the main pillars of Bitcoin’s mainstream adoption. Despite its popularity, the global Bitcoin ATM network has seen a net addition of just 94 Bitcoin ATMs over the last six months from July 2022 to the end of 2022. This is in stark contrast to the 4,169 ATMs that were added during the year’s first six months, according to data from CoinATMRadar.

The global slowdown has been attributed to the year-long bear market in 2022 and the geopolitical tensions and global inflation that have hindered various initiatives aiding the growth of the entire crypto ecosystem. Despite this, countries such as Spain and Australia have taken the lead in crypto ATM installations, with the United States and Canada still holding the top two positions for hosting the highest number of ATMs. El Salvador, which once held the third position, has now moved down to the fifth position after Spain and Australia.

The installation of Bitcoin ATMs is seen as one of the most effective ways of furthering the mainstream adoption of cryptocurrencies. It not only provides a convenient way for users to buy and sell digital assets, but it also helps to reduce the risk of fraud and money laundering. This is why many countries are now taking steps to regulate the industry and make it easier for businesses to install and use ATMs.

The future of Bitcoin ATMs looks bright, with more countries joining the list of those that have legalized their use. This is likely to lead to an increase in the number of ATMs being installed in the coming months and years. This, in turn, will lead to more people being able to easily access and use cryptocurrencies, which will further propel the growth of the industry.