More than 3600 Bitcoin ATMs went offline to record largest monthly decline
With 3,627 crypto ATMs going down last month, March 2023 becomes the month with the largest monthly decline of crypto ATMs. Contradicting the growing global Bitcoin (BTC) adoption rate, physical ATMs dedicated to fiat-crypto conversions are on the decline. In March alone, 3,627 crypto ATMs were removed from the network, bringing down the total ATMs to 33,727. In nearly a decade since the first Bitcoin ATM was launched on Oct. 29, 2013, the net change of cryptocurrency machines installed and removed monthly remained positive most times — implying that total crypto ATMs worldwide were steadily increasing. However, the trend is reversing, reveals Coin ATM Radar data. Net change of cryptocurrency machines number installed and removed monthly. Source: Coin ATM Radar As shown above, net crypto ATM installations decline d for four month s — September 2022 and the first three month s of 2023. However, with 3,627 crypto ATMs going down last month makes March 2023 stand out as the month with...