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Decline in Cryptocurrency ATMs in 2023: A Global Perspective
In 2023, the global number of Bitcoin ATMs decreased by 11.1%, marking the first decline in a decade, with the U.S. being the largest host, contrasting with growth in the EU and other regions.
California Proposes Crypto ATM Regulations Amid Rising Fraud
California lawmakers propose regulations on cryptocurrency ATMs to combat escalating fraudulent activities. The bill, dubbed "Digital Financial Asset Transaction Kiosks," recommends a daily withdrawal limit of $1,000 and a cap on operators' fees, with implementation eyed for January 1, 2024. While some victims of ATM scams applaud the measure, crypto ATM operators express concerns over the potential adverse impact on small operators.
Australia Surpasses Asia in Crypto ATM Installations
Australia has surpassed Asia in the total number of crypto ATMs installed, with 364 machines as of January 2023. The country has consistently added Bitcoin ATMs over the last eight months and is on a crypto ATM installation spree. Internal documents from Australia’s Department of the Treasury suggest that crypto legislation is on the horizon.
Declining trend in physical crypto ATMs
The number of physical cryptocurrency ATMs is declining, with 3,627 removed in March 2023, according to Coin ATM Radar. The trend of increasing installations is reversing, with the highest number of machines installed in a single month being 2,048 in January 2021. The three-month-long downtrend was broken in April with 37 installations. General Bytes, BitAccess, and Genesis Coin are the current market leaders in manufacturing crypto ATMs. General Bytes faced a security incident in March and promised to reimburse customer losses.
Australia Breaks Into Top 3 Nations for Crypto ATM
Australia has 234 crypto ATMs, third worldwide behind the US and Canada. Australia has added 16 ATMs since Jan. 1, while Spain has lost 4 and El Salvador hasn't.
22 Bitcoin ATMs Established Globally Per Day in March, Study Shows
The number of Bitcoin ATMs continues to rise, it is estimated that 22 machines were installed per day last month all around the world, a study shows.
Walmart Installing Bitcoin ATMs in its Retail Stores
Some Walmart customers are now able to purchase Bitcoin in its stores. Walmart's spokesperson said serval pilot tests conducted by Coinstar started earlier this month, including 200 kiosks in Walmart stores.
El Salvador Standing by to Rollout 200 ATMs for Converting Bitcoin to Cash
El Salvador is preparing to launch the initial 200 ATMs that will enable conversion of Bitcoin to cash. President Bukele said that the use of Bitcoin will not be mandatory.
Russia’s Largest Bank Sberbank Buys 5,000 Blockchain ATMs Despite Authorities' Plan to Ban Crypto
Sberbank, Russia’s largest bank, is purchasing more contactless ATMs that are powered by blockchain. The banking giant is making such a move despite an upcoming bill that aims to penalize individuals and firms that use and trade cryptocurrencies in financial transactions. Sberbank’s ATMs have nothing to do with cryptocurrencies as they do not act as BTMs (Bitcoin ATMs). The banking institution just intends to cut the need for physical contact associated with the use of bank debit/credit cards amid the coronavirus pandemic. Throughout the COVID-19 epidemic, Sberbank has been preferring to cut down the use of plastic cards because of health concerns.
Democratization of Digital Technologies: Crypto ATMs
Greater accessibility for everyday people to digital technology is the key to breaking the concentrated asset control of states and governments. To ensure a long and prosperous evolutionary life for blockchain technologies, a good diffusion signal can definitely be the increasingly growing installation, around the world, of Crypto ATMs. What they are and how they work?