In the midst of a market downfall, bitcoin ATM growth has slowed, with almost 800 BTC ATMs pumped out of a global network

In the midst of a market downfall, bitcoin ATM growth has slowed, with almost 800 BTC ATMs pumped ou ...

In August this year, the number of Bitcoin ATMs operating around the globe increased to 38,776 machines. Last month, the number of these machines was reduced significantly, according to CoinATMRadar. In September, the total number of BTC ATMs operating over the country was 37,980. The increase comes three months after CoinATMRadar revealed that the machines of BTC ATMs had slowed.

The lack of regulatory clarity and the recent market slowdown are being described as the main reasons for the expansion of BTC ATMs.

During September, the global crypto market fell from the trillion-dollar valuation mark owing to interest rate rises in the United States, as well as scams and cybercrimes that wreak havoc on the crypto sector, leaving investors on a low-risk appetite.

On an everyday basis, up to 23 crypto ATMs were being installed around the globe in June this year. This figure has decreased in the last sixty days.

Every day, an average of 14 crypto ATMs is being installed in different parts of the world, according to CoinATMRadar.

Europe and Canada, particularly, are making strides to provide these machines to crypto users, which allows them to purchase Bitcoin in exchange of fiat currencies in real time.

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According to a source, Japan is looking to explore the Web3 world and has recently decided to support BTC ATMs across Tokyo and other parts of Japan by August 2023.

For the time being, the United States has the largest number of BTC ATMs, accounting for 87.9 percent of its worldwide network. The United States currently has around 33,000 crypto ATMs.

Genesis Coin, General Byte, BitAccess, Coinsource, and Bitstop are some of the most popular crypto ATM services that are now available.