Bitcoin ATM installations slow down in early 2022, making a first in history

Over the past six months, Bitcoin (BTC) recorded galore milestones — El Salvador’s mainstream adoption, a caller all-time precocious of $69,000 and a stronger-than-ever web hash rate. However, for the archetypal clip successful history, planetary Bitcoin ATM installations successful the archetypal 2 months person slowed down erstwhile compared to the preceding year.

Bitcoin ATM installations successful the archetypal 2 months of the twelvemonth person historically accrued year-over-year, arsenic evidenced by data from Coin ATM Radar. The trend, however, breaks this year.

Overall Bitcoin ATM installations. Source: Coin ATM Radar

Considering lone January and February 2022, a full of 1,817 crypto ATMs person been installed worldwide. In the aforesaid timeframe past year, 2,435 crypto ATMs were installed, which is 618 ATMs much erstwhile compared to this year.

In 2020, lone 760 ATMs were installed successful this timeframe, which overshadowed 2019’s 250 ATM installations. 

One of the main reasons for the momentary slowdown tin beryllium attributed to the deficiency of engagement from newer jurisdictions. For example, the United States unsocial contributed to 93% of the full planetary crypto ATM installations successful 2022 with 1,689 caller ATMs.

Global crypto ATM distribution. Source: Coin ATM Radar

On the different hand, Bitcoin ATMs successful Europe were reduced by 1 ATM successful the archetypal 2 months, going down to a full of 1,397 ATMs. At the clip of writing, North America represents implicit 95% of full crypto ATM installations with 34,284 ATMs.

World representation of Bitcoin ATMs. Source: Coin ATM Radar

There are a full of 36,067 ATMs installed currently. Despite a slower commencement to the year, crypto ATM installations are expected to turn arsenic jurisdictions specified arsenic El Salvador plans to deploy 1,500 Bitcoin ATMs. 

Unless much governments amp up their efforts to crypto adoption, the ATM installations volition find it hard to support an upward trajectory arsenic existing crypto-friendly countries scope saturation successful presumption of installing caller crypto and Bitcoin ATMs.

Related: Tourism successful El Salvador up 30% since Bitcoin adoption, curate says

One of the contiguous affirmative effects of Bitcoin adoption for El Salvador is simply a abrupt spike connected tourism. Salvadoran Tourism Minister Morena Valdez said connected Feb. 22 that the country’s tourism manufacture surged much than 30% since the adoption of the Bitcoin instrumentality successful September 2021.

— Mónica Taher ⚡️ (@monicataher) February 22, 2022

As Cointelegraph reported, Valdez said that El Salvador’s tourism maturation exceeded the government’s expectations, reaching 1.4 cardinal visitors alternatively of 1.1 cardinal tourists, adding: 

“We had projected $800,000 successful overseas speech but we obtained much than $1,400 cardinal of income successful overseas currency”