Bitcoin ATM Installations Witness Biggest Drop In History, Despite Bull Run In BTC Prices

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Crypto ATMs are a popular way for people to exchange cash for cryptocurrency. The firstBitcoin ATM was launched in Vancouver, Canada, in 2013 by a company named Bitcoiniacs and Robocoin. What Happened? An AltIndex report indicates that the number of Bitcoin ATMs installed worldwide dropped to a two-year low in October 2023. Installations narrowed down by 7,000 on a year-to-date basis to 32,500, which marks the biggest drop in crypto history. The functioning of a crypto ATM is like that of a traditional ATM and includes a one-time verification process, requiring a cryptocurrency wallet to recei…

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