Despite the ongoing digital asset bear market, the number of crypto ATMs is expected to rise to over 4,000 in 2022

The number of cryptocurrency ATMs increased in 2022 despite a difficult year for the digital assets market, according to new statistics.

Since January 2020, when there were 6,362 Bitcoin (BTC) ATMs, the number of Bitcoin (BTC) ATMs has surged by a stunning 506%, according to the Coin ATM Radar app.

The data indicate that there are presently 38,601 Bitcoin ATMs, a 6,000-machine rise from December of last year.

According to recent research by market intelligence company Grand View Research, the market for crypto ATMs might surpass $5 billion by 2030. According to the analytics company, the growth might be linked to more businesses accepting digital assets as payment.

Walmart launched out its Bitcoin ATM trial program in 2021, placing 200 Bitcoin ATMs at Walmart shops around the United States.

The ability of ATMs to liquidate virtual currencies and rapidly change them into fiat dollars is a key element fueling the expansion of the crypto ATM business, according to the report.

In addition, the research says that the Covid-19 epidemic contributed to the expansion of the industry as client demand for superior crypto ATMs increased.

Last year, North America ruled the regional market, according to the research. Grand View Research predicts that the North American industry will continue to expand as a result of the widespread availability of cryptocurrency ATMs and the legalization of digital assets across the area.

Also Read: Cardano Vastly Outperformed Ethereum, Polygon, And Seven Other Cryptos On A Single Metric In 2022