The latest data shows that there is a significant drop in installations of Bitcoin ATMs for May when a total of 202 machines were installed throughout the world. Even more concerning is the fact that this number is the new record low when it comes to the global instalment of Bitcoin ATMs, thus breaking the previous record set in 2019.
More specifically, ever since the beginning of 2022 in January, the volume of the instalment of Bitcoin ATMs gradually started to decline. This decline went on until May, when it recorded an 89.75% decrease in ATM instalments, or from 1971 in December, down to just 202 in May.
According to COIN ATM Radar, the biggest reasons for the significant drop in the instalment of Bitcoin ATMs around the world are the unregulated crypto markets and operators, the current geopolitical situation, and the ongoing effects that the COVID-19 pandemic imposed on many businesses regardless of the industry.
In addition, Coin ATM Radar states that the country with the most Bitcoin ATMs in the world remains the United States of America, holding an impressive 87.9% of all Bitcoin ATMs in the world, or 37.826 in particular. The second place is reserved for Europe, where you can find 1.419 Bitcoin ATMs at the moment of writing.
While the numbers indeed show a worrying drop in the installations of Bitcoin ATMs, there is some good news as well. For example, in just 5 days since the beginning of June, there have been 817 Bitcoin ATMs installed around the globe. And this is without taking into account that the month has just begun. In other words, the best course of action is to wait and see how this situation will unfold.
Even despite the setback in the physical realm for Bitcon ATMs, this digital assest still continues to break its own records when it comes to the overall improvement of its P2P (peer-to-peer) network. This includes range of features such as decentrilizing and increasing the speed of the network, as well as further improving its security.
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