Bitcoin ATMs Decline in Numbers Since July

The number of Bitcoin ATMs has seen a steady growth in July despite simmering down since the last month as a blog has revealed. During last month alone, almost 190 new machines were installed and around 132 were shut down. 55 new machines displayed a 1.6 percent growth followed the previous month and per the blog, a steady decline compared to the prior months is shown.

More Decline

In June 2018, almost 300 new BTC ATMs were installed and around 60 of these machines shut down. This was attributed to the hype surrounding BTC earlier in 2018 calming down during when these ATMs were meant to be installed. As usual, any ATM ordered is then delivered within a three-month period. However, as of press time, ATMs are being installed at around 8 per day.

As a result of the current decline in ATMs, used ATMs are coming into play due to a sudden appetite for these second-hand machines on the market. The blog states that many of these already used BTC ATMs are ready to be sold following a period of non-existence during the high demand for ATMs. Two of these ATMs were put up for sale, with one of them going to Vienna following a purchase in January and the other in Las Vegas, although it states that the machine has hardly been touched for extended periods of time.

The US has held the majority of these machines, counting for over 2000 operational BTC ATMs as of the 6th of August, with Canada coming second in lead and the UK coming third with around 168 different avenues. Despite this, without registering the location of a functional machine, pinpointing exactly how many are around is difficult. Bitcoin is in the lead (again) in terms of ATM availability and almost 100 percent of operating ATMs offer the first crypto. LTC and ETH are also popularly supported cryptocurrencies.

Currently, the ATM sector continues possessing an increased number of buy-only cryptocurrency ATMs although recent reports have suggested that buy/sell machines are also rising in popularity as one of these machines is already operational in the cryptocurrency hub that is Malta.

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