Both the crypto industry and financial markets as a whole have had a tough year.
Both giants like Crypto.com and Coinbase have been forced to lay off staff, and even big crypto hedgefund Three Arrows Capital (3AC) went into liquidation.
Despite all this, new research from the crypto website BitStacker reveals that there have been over 500 new Bitcoin ATMs installed on average each month of the year.
All months except September saw growing numbers. And despite September being a down month, the numbers for October are already pointing to a new all-time high in terms of ATMs worldwide.
There are now almost 40,000 crypto ATMs installed across the world. Seen over the last 12 months, installations are up by 25%.
Retailers are driving growth, and Europe is on the horizon
Several factors have come into play to see positive growth numbers for Bitcoin ATMs, despite the ongoing crypto winter.
Retailers are eying growing interest amongst consumers to be able to pay for goods and services with crypto.
The research report further expands:
“Overall, there appears to be a lot of near-term interest in allowing customers to transact in cryptocurrency. Not only at the point-of-sale, but also through easily accessible bitcoin and crypto ATMs.
This makes installing an ATM within physical stores and shops more attractive for a lot of retailers.”
Growth is also appearing outside of the US which up until now has been the country with the biggest demand for crypto ATMs.
Most notable is Spain now recently surging past El Salvador to take third place as the country with the most Bitcoin ATMs, just passed by US and Canada.
Read the full story on crypto ATMs growth in 2022 along with a visual breakdown here: https://www.bitstacker.com/bitcoin-atm-growth/
