RRR.3,627 Bitcoin ATMs went offline last month, March 2023 became the month with the biggest monthly decline in crypto ATMs.
In contrast to the global Bitcoin BTC adoption rate, the number of physical ATMs dedicated to the fiat crypto exchange is decreasing.
In just a month of March, 3,627 crypto ATMs were fall out of the network. Reducing the total number of ATMs to 33,727.
In the ten years since the first Bitcoin ATM was launched on October 29, 2013, the turnover of cryptocurrency machines installed and opened every month has remained positive over time. a lot referring. that crypto ATMs are still on the rise around the world. However, the trend is turning, according to data from Coin ATM Radar.
Crypto net ATM installations have declined for four months between September 2022 and March 2023. However, with 3,627 crypto ATMs going down last month, March 2023 stands to be the month with a huge monthly decline.
The number of Bitcoin machines installed over time reflects a sudden decrease in the overall number of crypto ATMs. The significance of this reduction seems high. Considering that the highest number of ATMs installed in a single month was 2,048 — as early as January 2021.
April Update
On the other hand, April broke a three-month slump by recording 37 crypto ATM installations on 1st of the April. Current market leaders in the development of crypto ATMs are General Bytes, BitAccess, and Genesis Coin.
Related; Bitcoin ATM maker shuts down cloud service after hot customer wallets strained
After shedding customers’ money in a “security incident” in March involving access to its clients’ hot wallets, Common Bytes vowed to recoup its losses.
Saying
We instantly took steps to forestall additional unauthorized entry to our methods and are working diligently to guard our clients,” Common Bytes stated in a press release.
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