Odaily Planet Daily News Coin ATM Radar data shows that in the first two months of 2023, there was a net decrease of 412 cryptocurrency ATMs installed worldwide. The total number of crypto ATMs has been rising steadily since 2014. In the year from December 2020 to January 2022, more than 1,000 cryptocurrency and Bitcoin ATMs were installed each month. However, the bear market had a direct impact on its growth. In September 2022, the total number of crypto ATMs saw a net decline for the first time. And the total number of crypto ATM installations in 2023 fell for two consecutive months, setting a new low. In January 2023, the number of crypto ATMs worldwide decreased by 289, and in February it decreased by a further 123 - a total of 412. While the continued decline was initially purely due to geopolitical tensions, revenue losses and a prolonged bear market, service providers have been trying cheaper alternatives to operations. For example, recently, crypto ATM provider Bitcoin Depot converted its 7,000 physical machines to BitAccess software. The move will help reduce operating costs associated with software licensing fees, which amount to $3 million per year. (Cointelegraph)