The global cryptocurrency ATM market is experiencing a significant recovery, with the total number of machines nearing its previous peak. As of January 11, 2025, there are 38,866 crypto ATMs worldwide, just below the all-time high recorded in December 2022. This resurgence follows a challenging period marked by notable declines in operational ATMs.
Market Recovery and Growth
Following the collapse of the Terra stablecoin and the FTX exchange in November 2022, the market faced a substantial decline. By July 2023, the total number of operational ATMs had dropped to a low of 33,085 machines, reflecting a decrease of 6,873 devices. However, installation rates have since rebounded significantly.
In December 2024 alone, 157 new machines were added, and November 2024 saw a net increase of 404 devices, despite a temporary decline of 280 ATMs in October. This trend indicates a renewed interest and investment in cryptocurrency ATMs, suggesting a positive outlook for the market.
Major Operators in the Market
The market is primarily dominated by a few major operators, with Bitcoin Depot at the forefront, managing 8,486 ATMs. This makes it the largest player in the industry. Following closely is Coinflip with 5,289 machines, while Athena Bitcoin oversees 3,797 ATMs globally.
- Bitcoin Depot: 8,486 ATMs
- Coinflip: 5,289 ATMs
- Athena Bitcoin: 3,797 ATMs
These key operators collectively manage a significant portion of the global crypto ATM infrastructure, showcasing their influence in the market. Smaller companies are also playing a crucial role in expanding services, particularly in regions with fewer crypto ATM installations.
Regional Distribution of Crypto ATMs
The distribution of crypto ATMs reveals stark contrasts in adoption rates across different regions. The United States is the dominant market, hosting an impressive 81.3% of the global total. This underscores the country’s leadership in cryptocurrency adoption and the growing acceptance of digital assets among consumers.
In comparison, Europe accounts for only 4.3% of the total, while Oceania and Australia host 4% and 3.5%, respectively. This disparity indicates varying levels of crypto adoption and regulatory environments worldwide, highlighting the need for further development in other regions.
Cryptocurrency Preferences Among ATMs
Among the 38,866 operational crypto ATMs, Bitcoin is the overwhelming favorite, supported by 38,855 machines. This dominance highlights Bitcoin’s established position in the market as a recognized store of value. Following Bitcoin, Litecoin is the second most widely supported cryptocurrency, available on 54.2% of ATMs.
- Bitcoin: 38,855 ATMs
- Litecoin: 54.2% of ATMs
- Ethereum: 53.3% of ATMs
- Dogecoin: 10,767 ATMs (27.7% of total)
The preference for Bitcoin, Litecoin, and Ethereum among ATM operators reflects broader market trends and user demand for these cryptocurrencies. As the market matures, the diversity of supported cryptocurrencies may expand, catering to a wider audience and accommodating the growing interest in alternative digital assets.
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