Key Points:

• There was a significant rise in the number of net crypto ATM installations in May, with approximately 1,400 machines installed.
• During the first four months of 2023, the total number of crypto ATMs decreased.
• Coinhub Bitcoin ATMs has stated plans to improve the quality of its Bitcoin ATM network and include all major US cities.

After 4 months of seeing a decrease in the number of Bitcoin and crypto ATMs, this past May has recorded a positive increase.

There was a steady decline in the total number of crypto ATMs over the first four months of 2023. Right now, the quantity of net crypto ATMs around the world fell by 5,850. Despite the fact that large economies like the United States and Europe contributed to the decline, Australia, Poland, and Spain increased crypto ATM installations in their respective areas, according to Coin ATM Radar data, 1,397 machines were added back to the worldwide crypto ATM network in May.

Crypto ATMs, otherwise called Bitcoin ATMs, are electronic stands where shoppers might perform monetary exchanges, but they are worked for digital currency instead of money. The research firm How Many Bitcoin ATMs claims that there are approximately 63,000 of these cryptocurrency ATMs in the United States. Assuming that you’ve at any point examined utilizing one, this is the thing you ought to be aware of them.

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Although Bitcoin ATMs do not aid in the growth of the Bitcoin network, they do provide users with a physical means of exchanging fiat currency for cryptocurrencies. In 2023, Australia will have installed 233 ATMs, making it the third-largest crypto ATM hub in the world.

Coinhub Bitcoin ATMs is establishing itself as a significant player in the crypto ATM market and has ambitious plans to expand its network nationwide to all major US cities.

The company’s goal, according to a press release, is to create a simple and secure platform for users to buy and sell Bitcoin, satisfying the growing demand for cryptocurrency services that are easy to access.

Coinhub places its Bitcoin ATMs in public places like convenience stores, gas stations, and other places where a lot of people go. Anyone can easily use ATMs and conduct Bitcoin transactions despite being close to traditional financial institutions because of its global distribution.