Retail

Bitcoin ATMs see more than 400 removals in 2023

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March 1, 2023

Bitcoin ATMs have seen a reduction lately, as the net number of the machines dropped by 412. This is a shift from December 2020 to January 2022, when more than 1,000 bitcoin ATMs were being installed monthly, according to a report by Coin Telegraph.

The decline is due to a number of factors including geopolitical tensions and a bear market. Bitcoin ATM operators are also looking at more affordable solutions. For example, Bitcoin Depot recently converted its machines to BitAccess software, which it said will cut back on software licensing fees.