According to the analytical service Coin ATM Radar, about 22 new cryptomats are installed daily in the world, and the total network infrastructure has reached 37,338 devices.
Coin ATM Radar informedthat the total number of ATMs installed in the world exceeded 37,000. Between January and May 2022, about 3,000 new devices were launched. Thus, the rate of expansion of the service network is about 22 new cryptomats per day. However, their actual number may be higher, given that Coin ATM cannot track absolutely all new installations of crypto ATMs in the world.
The largest number of ATMs is installed in the USA – 33,195, followed by Canada – 2,456, and Spain closes the list of leaders – 229. Russia takes 15th place – 53 devices. Genesis Coin, the largest crypto ATM manufacturer, owns about 34.6% of devices worldwide, while General Bytes became the second largest with a 30% market share.
Crypto ATMs are more preferred by investors who want to use crypto assets without having to go through the know-your-customer (KYC) procedures required by most cryptocurrency exchange platforms. Through crypto ATMs, users anonymously place deposits, exchange fiat for cryptocurrencies, or, at their choice, make transfers between crypto wallets.
However, despite the high achievements of the industry in expanding the network of crypto ATMs, Coin ATM fixes a trend towards an overall decrease in the rate of device launches compared to 2021.
Source: Bits
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