In the second half of 2022, less than 100 Bitcoin ATMs will be installed globally

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Geopolitical unrest and worldwide inflation in 2022, along with a year-long bear market, slowed a number of projects aimed at fostering the development of the whole crypto ecosystem. As a result, efforts to put in additional Bitcoin ATMs decreased in several nations that had previously led the charge.

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 Source: CoinATMRadar

Just 94 Bitcoin ATMs were added to the global network in the past six months, from July to the end of 2022. Data from CoinATMRadar indicates that just 4,169 ATMs were added throughout the first half of the year.

Despite the global recession, nations like Spain and Australia have led the way in the installation of crypto ATMs. When it comes to having the most ATMs, the United States and Canada continue to hold the top two spots. El Salvador, which formerly had the third spot, is currently in fifth place, following Spain and Australia, respectively.

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Source: CoinATMRadar

While others reported a relatively consistent increase throughout this time, Bitcoin ATM producer BitAccess experienced a relative decline in its ATM installation.

Sub-ecosystems like Bitcoin ATMs are well-positioned for a rebound as cryptocurrency investors dust off the bad feelings from the previous year and get back into the game.

Australia received its first Bitcoin ATM with integrated Lightning Network (LN) capabilities shortly after passing El Salvador to take over as the fourth-largest crypto ATM hub.

With LN, transactions can be processed instantly by Bitcoin ATMs without the need for the operator to batch the funds. Compared to an on-chain payment, this improvement may result in lower transaction fees, as Cointelegraph previously reported.

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