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Slow Growth for Bitcoin ATMs in H2 2022

The global network of Bitcoin ATMs saw a net addition of only 94 machines in the second half of 2022, according to CoinATMRadar.

Bitcoin ATM
Bitcoin ATM

This contrasts with the 4,169 ATMs added in the year's first half.

A bear market and geopolitical tensions may have hindered the growth of the cryptocurrency ecosystem, leading to a decrease in the installation of new Bitcoin ATMs in some countries. However, Spain and Australia have taken the lead in installing these machines, with the US and Canada still hosting the largest. El Salvador, previously in third place, has now fallen to fifth.

While some manufacturers saw a decline in ATM installations, others reported a steady increase. Despite a slowdown, sub-ecosystems like Bitcoin ATMs are still well-positioned for recovery as crypto investors return to the market.