The global number of bitcoin ATMs has increased significantly over the past month, reaching a new peak of more than 35,000 machines in operation, according to the latest data from Coin ATM Radar.
Bitcoin ATMs resurgence in May
The figure of 35,069 ATMs reflects a significant rise after hovering below the 34,000 mark since March. The source also reveals that in April, a nearly two-year low was recorded with a total of 33,389 Bitcoin ATMs.
Related reading: The best crypto strategist shares alarming predictions for the Bitcoin price
Comparing the data to December 2022, when the number of ATMs exceeded 39,000, a clear decline appears despite the rise in the price of Bitcoin (BTC) during that period. As data from CoinATM Radar shows, the month of March alone saw 3,600 Bitcoin ATMs disconnected worldwide.
The trend has been on a downward trajectory since December, as shown by the Coin ATM Radar chart. However, this situation was reversed with an increase of approximately 1,400 machines in May and an additional 278 machines in the first few days of June.
Bitcoin ATMs have become popular for users to easily buy and sell BTC using fiat money or cards, providing a fast and seamless experience. Furthermore, these devices typically do not require Know Your Customer (KYC) data, making them a more private alternative to traditional exchanges.
Lead distribution areas in the United States and Canada
When it comes to the distribution of ATMs around the world, the United States holds the leading position, with more than 30,000 ATMs installed within its borders, which is more than 85% of all machines operating today. According to Coin ATM Radar, Canada is the only other country to have surpassed 1,000 ATMs, with nearly 2,745 combined.
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Europe comes second with around 1,400 ATMs installed across the region, and Spain tops the list with 286 ATMs. In comparison, the United Kingdom has only 16 ATMs installed despite its position as a financial center in the region.
Spain tops the list of Spanish-speaking countries with 285 ATMs, followed by El Salvador with 212. Mexico ranks third with 52 ATMs, while Colombia and Puerto Rico complete the top five with 37 and 32, respectively.
Hong Kong leads with 148 ATMs in Asia, while Japan has only three ATMs installed despite its bitcoin-friendly regulations. Not surprisingly, El Salvador leads the way in Latin America with 272 ATMs after adopting Bitcoin as legal tender. Africa has the fewest number of Bitcoin ATMs, with South Africa leading the way with 17, while regional giants Nigeria only have two ATMs installed in their jurisdiction.
Bitcoin price analysis
Bitcoin price stagnated in the past week, with the leading coin trading inside the $28,500 resistance area. At the time of writing, Bitcoin is worth $27,223, up 0.21% over the past 24 hours.
Featured image from iStock, charts from CoinATMRadar and TradingView.com
