Bitcoin ATM installations slow down in early 2022, making a first in history

Bitcoin (BTC), which has experienced many milestones over the past six months, includes El Salvador’s mainstream adoption and an all-time high $69,000. It also saw a stronger than ever network hash rate. For the first time ever, the global Bitcoin ATM installations have slowed in the past two months, compared to last year.

According to Coin ATM Radar data, Bitcoin ATM installation in the first two months have increased year-over year. However, this year’s trend is not as strong.

All Bitcoin ATM installations. Source: Coin ATM Radar

There have been 1,817 global crypto ATMs installed in the last two months of 2022. Last year, 2,435 ATMs were installed in the same time frame, which is 618 more ATMs than this year.

This was a significant decrease from the 250 ATM installations in 2019.

The lack of participation from newer jurisdictions is one of the major reasons for the temporary slowdown. The United States contributed 93% to the global crypto ATM installation in 2022, with 1,689 new ATMs.

Distribution of crypto ATMs worldwide Source: Coin ATM Radar

However, Bitcoin ATMs in Europe saw a reduction of 1 ATM over the first 2 months, bringing the total number to 1,397 ATMs. As of the writing of this article, North America accounts for more than 95% of all crypto ATM installations, with 34,284 ATMs.

The world map of Bitcoin ATMs. Source: Coin ATM Radar

There are currently 36,067 ATMs. Despite the slower start to 2018, crypto ATM installations are expected grow, as El Salvador plans 1,500 Bitcoin ATMs.

If more countries do not increase their efforts to adopt crypto, ATM installations will struggle to keep up a positive trajectory once existing crypto-friendly nations reach saturation when it comes to installing new crypto or Bitcoin ATMs.

Related: Tourism in El Salvador up 30% since Bitcoin adoption, minister says

A sudden increase in tourism is one of the immediate benefits of Bitcoin adoption in El Salvador. Morena Valdez, Salvadoran Tourism Minister, stated on February 22 that tourism has risen more than 30% in El Salvador since September 2021’s adoption of Bitcoin laws.

Boom! El Salvador’s tourism has grown by 30% since the Bitcoin Lawhttps://t.co/i8t6JRHD1a#ElSalvador #BitcoinLaw #bitcoin #bitcoininvestment #Abtc #tourism #BitcoinCity #blockchain #investments
Monica Taher (@monicataher), February 22, 2022

Cointelegraph reported that Valdez stated El Salvador’s tourism growth was greater than expected, with 1.4 million visitors compared to 1.1 million tourists.

“We projected $800,000.00 in foreign exchange, but we received more than $1.400 million in foreign currency income”

https://cointelegraph.com/news/bitcoin-atm-installations-slow-down-in-early-2022-making-a-first-in-history