Bitcoin ATMs witness surge in installations amid crypto market meltdown

While the price of Bitcoin is falling sharply touching the $23,000 mark, as more and more investors lose trust in what’s called the ‘gold’ of the crypto market, ever since the stablecoin meltdown of early May. However, one sector has been particularly booming—Bitcoin ATMs.

Bitcoin ATMs are dispensers where users can liquidate their cryptocurrencies in fiat directly. According to a recent report by Coin ATM Radar, Bitcoin ATMs around the world have risen in recent days. Over 882 Bitcoin ATMs have already been added, in the first ten days of June alone. This comes after the Bitcoin ATM installations witnessed a steep decline throughout the year 2022, with May recording just 202 new BTC ATMs, a range last seen three years ago in 2019, as per Cointelegraph.