{"id":173401,"date":"2023-04-01T11:26:18","date_gmt":"2023-04-01T11:26:18","guid":{"rendered":"https:\/\/precoinnews.com\/?p=173401"},"modified":"2023-04-01T11:26:18","modified_gmt":"2023-04-01T11:26:18","slug":"more-than-3600-bitcoin-atms-went-offline-to-record-largest-monthly-decline","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/more-than-3600-bitcoin-atms-went-offline-to-record-largest-monthly-decline\/","title":{"rendered":"More than 3600 Bitcoin ATMs went offline to record largest monthly decline"},"content":{"rendered":"<p>Contradicting the growing global Bitcoin (BTC) adoption rate, physical ATMs dedicated to fiat-crypto conversions are on the decline. In March alone, 3,627 crypto ATMs were removed from the network, bringing down the total ATMs to 33,727.<\/p>\n<p>In nearly a decade since the first Bitcoin ATM was launched on Oct. 29, 2013, the net change of cryptocurrency machines installed and removed monthly remained positive most times \u2014 implying that total crypto ATMs worldwide were steadily increasing. However, the trend is reversing, reveals Coin ATM Radar data.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-04\/ed05b3a9-cd4e-4014-b2e2-9abcea7b442f.png\"><\/p>\n<p>As shown above, net crypto ATM installations declined for four months \u2014 September 2022 and the first three months of 2023. However, with 3,627 crypto ATMs going down last month makes March 2023 stand out as the month with the largest monthly decline.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-04\/e9c49e3e-6df4-47e9-ba46-dac17c39c3f5.jpg\"><\/p>\n<p>The chart above shows the number of bitcoin machines installed over time, revealing the sudden drop in the total crypto ATMs. The significance of this reduction seems enormous, considering that the highest number of ATMs installed in a month was 2,048 \u2014 back in January 2021.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-04\/96c3ce39-b5d3-466a-8585-35b212ee30e9.png\"><\/p>\n<p>On the bright side, April broke the three-month-long downtrend by recording 37 crypto ATM installations on April 1. Current market leaders in manufacturing crypto ATMs are General Bytes, BitAccess and Genesis Coin.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin ATM maker shuts cloud service after user hot wallets compromised<\/em><\/strong><\/p>\n<p>After losing customer funds in a \u201csecurity incident\u201d in March that saw its customers\u2019 hot wallets accessed, General Bytes promised to reimburse the losses. <\/p>\n<p><strong><em>Magazine:\u00a0Web3 Gamer: Shrapnel wows at GDC, Undead Blocks hot take, Second Trip<\/em><\/strong><\/p>\n<p>\u201cWe have taken immediate steps to prevent further unauthorized access to our systems and are working tirelessly to protect our customers,\u201d General Bytes said in a statement.<\/p>\n<p>Source: <a href=\"https:\/\/cointelegraph.com\/news\/more-than-3600-bitcoin-atms-went-offline-to-record-largest-monthly-decline\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Contradicting the growing global Bitcoin (BTC) adoption<\/p>\n","protected":false},"author":3,"featured_media":173400,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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