By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    My first thought when I heard Joe Biden’s news
    My first thought when I heard Joe Biden’s news
    May 19, 2025
    NH mom, two daughters share rare medical condition
    NH mom, two daughters share rare medical condition
    May 19, 2025
    Measles vaccines save millions of lives each year
    Measles vaccines save millions of lives each year
    May 19, 2025
    Bomb blast kills four in southwest Pakistan: Officials
    Bomb blast kills four in southwest Pakistan: Officials
    May 19, 2025
    ‘Napalm Girl’ was in the Vietnam War photo. But who was behind the camera?; documentary The Stringer
    ‘Napalm Girl’ was in the Vietnam War photo. But who was behind the camera?; documentary The Stringer
    May 19, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    Tornado Cash Dev Roman Storm’s Defense Team Wants to Know if DOJ Withheld Evidence
    Tornado Cash Dev Roman Storm’s Defense Team Wants to Know if DOJ Withheld Evidence
    May 19, 2025
    XRP price risks falling to  after classic bearish chart pattern confirms
    XRP price risks falling to $2 after classic bearish chart pattern confirms
    May 19, 2025
    Tether surpasses Germany’s 1B of US Treasury holdings
    Tether surpasses Germany’s $111B of US Treasury holdings
    May 19, 2025
    Russia arrests Blum co-founder Vladimir Smerkis on fraud charges
    Russia arrests Blum co-founder Vladimir Smerkis on fraud charges
    May 19, 2025
    Bitcoin blasts past 6K: is Trump’s remittance tax bill crypto’s new rocket fuel?
    Bitcoin blasts past $106K: is Trump’s remittance tax bill crypto’s new rocket fuel?
    May 19, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Bitcoin ATM installations are approaching 2022’s record high, driven by recent surge in BTC price
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Cryptocurrency > Bitcoin ATM installations are approaching 2022’s record high, driven by recent surge in BTC price
Bitcoin ATM installations are approaching 2022’s record high, driven by recent surge in BTC price
Cryptocurrency

Bitcoin ATM installations are approaching 2022’s record high, driven by recent surge in BTC price

Published July 26, 2024
Share
7 Min Read
SHARE

Contents
What are Bitcoin ATMs?Countries with the most bitcoin ATMsBTC price surge drives Bitcoin ATM expansionConclusionShare this articleCategories
  • Coin ATM Radar data shows that the global crypto ATMs market is on the cusp of surpassing the peak of 2022.
  • The USA leads with over 32,000 installations, while Canada is second with over 3,000 locations and Australia third with more than 1,120.
  • Users see Bitcoin ATMs as one the easiest ways to buy and sell Bitcoin (BTC).

Bitcoin ATM installations have exploded and are approaching the all-time highs last seen in 2022, with significant growth witnessed in the past three months.

Data shows a significant increase year-to-date across most countries, with the USA still the country with the most Bitcoin ATM installations. Canada has also registered growth and ranks second, with nearly three times as many Bitcoin ATM facilities as third-ranked Australia.

What are Bitcoin ATMs?

Bitcoin ATMs are automated teller machines that allow users to buy and sell bitcoins, or in other words, an easier way to convert cash to crypto or crypto to cash. Most support local currencies, including USD, EUR, GBP, CAD and AUD.

Currently, about 12.3% of bitcoin ATMs support two-way operations, which means they allow users to withdraw cash from their crypto balances in addition to buying cryptocurrency with fiat. 

In order to sell Bitcoin for cash at a Bitcoin ATM, a user would require one of these two-way operation ATMs.

For example, if a crypto investor in Canada used a Bitcoin ATM to withdraw cash the machine would convert their BTC to CAD at the current exchange rate and then pay out Canadian dollars. 

Buying is easier as most machines are designed as one-way. Users need a wallet address or QR code when using bitcoin ATMs to buy or sell BTC and other cryptocurrencies.

Remittances via Bitcoin ATMs are also possible, with one able to send cash-to-cash payments across borders using two Bitcoin ATMs.

Countries with the most bitcoin ATMs

According to Bitcoin ATM tracking site Coin ATM Radar, there are currently 39,038 crypto ATMs worldwide. This number is approaching the peak seen in December 2022 when the total global installations reached a record 39,541.

The US has the most Bitcoin ATM installations globally at 32,404, while Canada is second with 3,039 and Australia third with 1,122. In Europe, Spain leads with 310 locations and Poland follows closely with 285. El Salvador, the first country to adopt Bitcoin as legal tender, has 215 installed ATMs, Hong Kong has 171 and South Africa 22.

Notably, new year-to-date installations have surpassed 2,700, a huge spike compared to the 21% decrease in 2023. The US saw 376 new installations in June alone, while Puerto Rico added 29, Australia 11 and Canada 9.

Coin ATM Radar notes in its industry dynamics report for June that Bitcoin Depot topped as the operator with the most new installations for the month with 182. DigitalMint ranked second with 142 new devices while RockItCoin was third with 68 new installations.

Currently, Bitcoin ATMs are available in 70 countries while companies that manufacture these machines have increased to 43 worldwide.

BTC price surge drives Bitcoin ATM expansion

The increased adoption and use of these facilities are down to their accessibility, ease of use and convenience. Locations include gas stations, shopping malls and stores. Bitcoin ATMs are also popular for their privacy, with users able to exchange fiat for crypto without having to divulge key personal details.

Profitability for operators is another factor as is the issue of many countries having regulatory guidelines that allow for their installation.

However, the expansion witnessed in the crypto ATM market also comes against the backdrop of a surging crypto market. After the bearish outlook in the last quarter of 2022 and 2023, cryptocurrencies have been on the upside in 2024. Recently, Bitcoin reached an all-time high above $73,000 and Ethereum came close to its peak from 2021.

Bitcoin’s price currently hovers around $64,800 as investors eye fresh bullish momentum that could return prices to the $70,000 mark and possibly the all-time high of $73,000.

Spot Bitcoin ETFs, the recent halving that cut block rewards from 6.25 BTC to 3.125 BTC are factors that analysts say may propel market growth in coming months.

With regulatory developments, US election sentiment and the global macro environment also likely to provide a confluence of bullish catalysts, experts say Bitcoin could be on the verge of another major rally. 

Targets for the end of 2024 include a potential march to record highs above $100k. Standard Chartered analysts doubled down on their prediction, revising it up to suggest the benchmark cryptocurrency could reach $250 by end of 2025.

Conclusion

Bitcoin is showing resilience after the declines in June and sell-off in early July 2024 – with German government BTC dump and Mt. Gox jitters. As the price of Bitcoin hovers above $64k amid an uptick from these recent lows, analysts are upbeat about the chances of a bull cycle surge in coming months. Most analysts point to news-driven spikes as the short term outlook for BTC before bulls take over in Q4.

This outlook for BTC suggests the Bitcoin ATMs market could see a fresh spike. Should this expansion materialize, it’s possible that global installations will hit a new record beyond the 2022 peak of 39,541.


Share this article

Categories

#Bitcoin #ATM #installations #approaching #2022s #record #high #driven #surge #BTC #price

TAGGED:2022sapproachingATMBitcoinBTCDrivenhighInstallationspricerecordsurge
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article The ‘Casablanca’ chancellor has boxed herself in on filling the black hole in public finances The ‘Casablanca’ chancellor has boxed herself in on filling the black hole in public finances
Next Article Thousands in Vietnam mourn at funeral of Communist Party chief Trong | Politics News Thousands in Vietnam mourn at funeral of Communist Party chief Trong | Politics News
- Advertisement -

Latest Post

My first thought when I heard Joe Biden’s news
My first thought when I heard Joe Biden’s news
World News
NH mom, two daughters share rare medical condition
NH mom, two daughters share rare medical condition
World News
Tornado Cash Dev Roman Storm’s Defense Team Wants to Know if DOJ Withheld Evidence
Tornado Cash Dev Roman Storm’s Defense Team Wants to Know if DOJ Withheld Evidence
Cryptocurrency
Measles vaccines save millions of lives each year
Measles vaccines save millions of lives each year
World News
XRP price risks falling to  after classic bearish chart pattern confirms
XRP price risks falling to $2 after classic bearish chart pattern confirms
Cryptocurrency
Tether surpasses Germany’s 1B of US Treasury holdings
Tether surpasses Germany’s $111B of US Treasury holdings
Cryptocurrency
- Advertisement -

You Might Also Like

Panasonic, IBM partner with Constellation Network to debut its DoD-vetted “Blockchain of Blockchains” in Global Hackathon
Cryptocurrency

Panasonic, IBM partner with Constellation Network to debut its DoD-vetted “Blockchain of Blockchains” in Global Hackathon

July 15, 2024
Millionaire Crypto Investor Recommends Switching from Ripple (XRP) to Pandoshi (PAMBO)
Cryptocurrency

Millionaire Crypto Investor Recommends Switching from Ripple (XRP) to Pandoshi (PAMBO)

February 1, 2024
How DePINs Address AI’s GPU Gap and Ethics Problems
Cryptocurrency

How DePINs Address AI’s GPU Gap and Ethics Problems

August 3, 2024
Post-Decline, ETH and BTC Poised for Historic Growth – Best 5 Altcoins That Could Raise x20 on Bulls Party
Cryptocurrency

Post-Decline, ETH and BTC Poised for Historic Growth – Best 5 Altcoins That Could Raise x20 on Bulls Party

August 5, 2024

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?