Crypto ATM installations increased in May

The number of net ATMs installed significantly increased in May, reversing the global pattern of dropping Bitcoin and cryptocurrency ATMs during the previous year. In May, there were about 1,400 net ATMs deployed.

In the first four months of 2023, there were fewer crypto ATMs overall. Major economies like the United States during that period contributed to the dropping numbers, although Australia, Poland, and Spain saw a rise in the number of crypto ATM installations.

Globally, there were 5,850 fewer net crypto ATMs in the first four months of 2023. However, according to information from Coin ATM Radar, 1,397 machines were re-added to the worldwide crypto ATM network in May.

Although they don’t help the Bitcoin network expand, Bitcoin ATMs act as a physical point of trade for customers to convert their fiat money into cryptocurrency. Australia added 233 ATMs in all in 2023, moving up the rankings to become the third-largest crypto ATM hotspot in the world.

Despite a catastrophic year-long decrease, the United States still holds the top position, with 84.7% of all Bitcoin ATMs worldwide. Canada comes in second with 7.6% of the market. Worldwide, 35,069 ATMs are still in use.

Hackers recently gained access to passwords, private keys, and money from General Bytes, the company that manufactures Bitcoin ATMs.

The hacker could steal at least 56 Bitcoin and 21.82 Ether. The business encouraged its users and clients to switch to a self-hosted server installation that can be protected by a virtual private network to prevent a situation like this from happening again.

I am Vishal. I post articles about the cryptocurrency markets. I'm pursuing a BBA degree. My home is in Navi Mumbai, Maharashtra.I'm constantly interested in new advancements in this industry and I learn something new about it every day. I would love to share such information with you all.

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