According to Coin ATM Radar data, 202 new Bitcoin ATMs were installed in May 2023, marking the first monthly increase in over a year. The total number of Bitcoin ATMs in the world is now over 38,000.

The number of ATMs had an increase exceeding 35,000

The increase in Bitcoin ATM installations could be due to a number of factors, including:

  • Increased Interest in Cryptocurrencies: The price of Bitcoin has been on the rise in recent months, which has likely led to increased interest in cryptocurrencies from investors and consumers alike.

  • Regulatory Restrictions Easing: In recent months, there have been signs that regulators are starting to ease their restrictions on cryptocurrencies. This could make it easier for companies to offer Bitcoin ATMs, which could lead to more installations.

  • Technology improvements: Bitcoin ATM technology has improved in recent years, making it easier and more convenient for users to buy and sell cryptocurrency. This could also be a factor in the rise in Bitcoin ATM installations.

-It remains to be seen if the increase in Bitcoin ATM installations will continue in the coming months. However, the initial rise is a positive sign for the cryptocurrency industry.