April 2022 marked the fourth consecutive month of the slowdown in the installation of Bitcoin (BTC) ATMs, which began at the start of the year.
Bitcoin ATMs serve a crucial purpose for the Bitcoin economy, helping users physically retrieve or deposit holdings against the corresponding cash reserves.
Based on data provided by Coin ATM Radar, the year 2021 saw the highest global increase in Bitcoin ATM installations, with August witnessing a peak net change of 2,037 ATMs. In January 2022, the net change fell to 1,687 from December 2021’s high of 1,969 ATMs.
Ever since, the net change in crypto ATMs has maintained a downward trajectory, recording three-digit changes across the following months in February (970), March (757) and April (739).
Last year’s explosive growth in crypto ATMs was a direct result of jurisdictions like El Salvador, which currently hosts the third-largest network…
