Crypto ATMs — one of the key infrastructure pillars for the mass adoption of cryptocurrencies — have seen a drastic reduction this year. In the first two months of 2023, the net cryptocurrency ATMs installed globally reduced by 412 machines. Since 2014, the total number of crypto ATMs maintained a steady upward trajectory while catering to millions of users worldwide for seamless crypto-fiat conversions. For ov a year, between December 2020 to January 2022, more than 1000 crypto and Bitcoin (BTC) ATMs were being installed every month. However, the bear market had an immediate impact on its growth. September 2022 …

Crypto ATM installations have seen a steady decline across the world over the past several months. While some ATMs have been taken out of operation due to geopolitical tensions and revenue decline, some providers like Bitcoin Depot have started converting their physical Bitcoin (BTC) ATMs to software. Bitcoin Depot recently converted all of its 7,000 crypto ATMs and kiosks to a software-based offering powered by BitAccess. The software conversion drive came after Bitcoin Depot acquired majority equity in BitAccess back in November 2022. Months before the deal, Bitcoin Depot had revealed plans to go public in 2023 via an $885 …

The United Kingdom’s financial regulator, Financial Conduct Authority (FCA), is coming for unregistered cryptocurrency automated teller machines (ATMs). THe FCA and the cyber team at West Yorkshire Police have taken action against several sites in and around Leeds city suspected of hosting illegally operated crypto ATMs. Announcing the news on Feb. 14, the FCA emphasized that no crypto ATM operators in the United Kingdom currency have FCA registration. The authority stated that all crypto exchange providers — including crypto ATM operators — must be registered with the FCA and comply with the U.K. money laundering regulations. “Unregistered crypto ATMs operating …

Cash Cloud, the operator of Coin Cloud digital currency automatic teller machines (ATMs) in the United States and Brazil, filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court for the District of Nevada on Feb. 7. According to its filing, the company has liabilities between $100 million and $500 million, with between 5,001 and 10,000 creditors and assets between $50 million and $100 million. Cash Cloud’s biggest creditor is Genesis Global Trading, the brokerage subsidiary business of Digital Currency Group’s bankrupt lending arm. It has an unsecured claim of over $108 million from Genesis, far outstripping the next largest claimant, …

A partnership between Poundtoken and BitcoinPoint will make the country's first 100% backed GBP stablecoin ($GBPT) accessible to retail consumers via a network of 18,000 ATMs across the United Kingdom. The move marks another step towards the U.K. becoming a "crypto hub" and is in line with the government's push to use stablecoins for wholesale settlements. Bitcoin Point is a Lightning Network-enabled Bitcoin (BTC), and cryptocurrency exchange, licensed and registered in the U.K. Poundtoken is the sole issuer of the GBPT ($GBPT) stablecoin. Poundtoken states that its stablecoin GBPT is fully backed in pound sterling at all times, with monthly …

Despite the bear market and the record-low dynamics of new Bitcoin ATM installations around the world, Australia breaks into the top three nations globally by the number of crypto ATMs. It was only in the first days of January when the Aussies got to the fourth spot — since that time they installed 16 more machines. According to Coinatmradar’s data, Australia now enjoys 234 crypto ATMs, which puts her in the third spot globally after the United States and Canada. In three weeks it outperformed Spain, which possesses 222 crypto ATMs. It’s all about dynamics — Australia deployed 99 crypto …

While Bitcoin (BTC) ATMs were an afterthought to Satoshi Nakamoto’s vision of sound money, they are now considered one of the main pillars of Bitcoin’s mainstream adoption. However, the global Bitcoin ATM network, which used to add thousands of machines each month in 2021, recorded a net addition of just 94 Bitcoin ATMs over the past six months since July 2022. A year-long bear market in 2022 — accompanied by geopolitical tensions and global inflation — hindered various initiatives aiding the growth of the entire crypto ecosystem. As a result, efforts to install new Bitcoin ATMs dipped in many countries …

The Australian city of Coolangatta has got its first Bitcoin (BTC) ATM with integrated Lightning network capabilities. The new ATM has been installed at The Strand shopping center in Coolangatta and is now available for use by the public. A Bitcoin Lightning ATM works quite similarly to traditional Bitcoin ATMs but saves significant time because of the instant transaction capabilities of the layer-2 Lightning solution. It also allows for purchasing very small amounts of BTC, mostly in Satoshi (sats), the lowest denomination of Bitcoin, where one satoshi is equal to 0.00000001 BT. At the moment, cryptocurrency ATMs settle transactions on …

El Salvador, the first country to legalize Bitcoin (BTC), has been pushed down yet another spot in total crypto ATM installations as Australia records 216 ATMs stepping into the year 2023. As part of El Salvador’s drive to establish Bitcoin as a legal tender, President Nayib Bukele had decided to install over 200 crypto ATMs across the country. While this move made El Salvador the third largest crypto ATM hub at the time after the United States and Canada in September 2021, Spain and Australia overtook the Central American country’s ATM count in 2022. On October 2022, Cointelegraph reported that …

More and more people are discovering Bitcoin (BTC) and other cryptocurrencies, which is good for the adoption of digital money on the blockchain. Interest in Bitcoin is also growing in Australia and companies are responding positively. For example, there are various ways to buy Bitcoin in Australia. Trading Bitcoin is more than just buying and selling. So, what is the best place to buy Bitcoin and what is the most secure way to store a Bitcoin investment? Discover in this article different ways to buy Bitcoin in Australia, how to trade Bitcoin and the ways to store cryptocurrencies. Various ways …

It’s not just pro-crypto regulations but also a supporting infrastructure that allows sustainable crypto adoption in any jurisdiction. Weighing in factors such as the number of Bitcoin (BTC) ATMs, blockchain companies and public interest in cryptocurrencies, Florida comes out as the most crypto-ready state in the United States. The US hosts a network of 33,865 Bitcoin ATMs, representing 87.1% of total crypto ATM installations worldwide. In addition, the nation contributes to 37.8% of the global Bitcoin hash rate, which makes the US the most dominant player in crypto. However, a state-wise analysis reveals that not all 50 states are equally …

Nigeria has drastically reduced the amount of cash individuals and businesses can withdraw as it attempts to push its “cash-less Nigeria” policy and increase the use of the eNaira — Nigeria’s Central Bank Digital Currency (CBDC). The Central Bank of Nigeria issued the directive to financial businesses in a Dec. 6 circular, noting that individuals and businesses would now be limited to withdrawing $45 (₦20,000) per day and $225 (₦100,000) per week from ATMs. Individuals and businesses will also be limited to withdrawing $225 (₦100,000) and $1,125 (₦500,000) respectively at banks per week, with individuals hit with a 5% fee …