Despite the events in the crypto industry this year and the bear market, cryptocurrency ATMs continue to grow.
Crypto Money ATMs Are On the Rise
According to data from CoinATMRadar, there is a noticeable change in the crypto sector this year. Despite the bear market, ATMs continue to grow worldwide. The number of ATMs, which was 34358 last year, has increased by 4239 this year to 38597. Despite the declines in the crypto market in 2022, the increase in the number of ATMs may be an indicator of increasing crypto adoption.
Number of ATM’s
Although there has been an increase in the number of crypto ATMs, the bear market has affected the number of crypto ATMs. Many ATM operators have reduced their crypto ATM operations, waiting for the market to stabilize. However, despite the market conditions, the uptrend cannot be ignored. In addition, the number of crypto ATMs is expected to grow by more than 60% by 2030.
Crypto Adoption is Increasing
There are many reasons behind the increase in the number of ATMs. The crypto sector has started to be adopted more and more by people every day, and many businesses have now become accepting crypto payouts. With the efforts of the companies that facilitate crypto payouts in daily life, the adoption of crypto money is increasing every day. In the past weeks, ZELF and Huobi have agreed with the world-renowned payment firm VISA for crypto payments. With these agreements, the ability of people to make payments in crypto in daily life increases crypto adoption.
Bear Market Effect
Although the bear market affected crypto ATMs, there was no decline in 2022. It seems that the rise will continue in 2023. However, there are still negative opinions about crypto ATMs. Many regions consider crypto ATMs as a money laundering point.
Leave a comment