Above 3,600 Bitcoin ATMs closed: March may face worst downfall

Reportedly, the total number of crypto ATMs was more during the launch of the first Bitcoin Atm

Going by sources, General Bytes is a business supply and manufacturing platform

As per reports, despite the increasing number of Bitcoin-based offline ATMs dealing with fiat-crypto exchanges are seeing a downfall, stated Cointelegraph. On March 2023, around 3,627 ATMs went off reducing the count to 33,727 ATMs.

According to Cointelegraph, on October 29, 2013, during the launch of the first Bitcoin Atm total number of crypto ATMs was increasing. However, with insights from Coin ATM Radar, it has been noted that currently, the total number of crypto ATMs is decreasing, Cointelegraph highlighted.

As reported by Cointelegraph, between September 2022 to March 2023, the total crypto ATM installations saw a downfall. Reportedly, March 2023, faced highest number of downfalls, added Cointelegraph.

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However, sources revealed that on April 1, 2023, the downtrend faced for three months broke after the installation of 37 crypto ATMs. Furthermore, after General Bytes, a business supply and manufacturing platform, saw the loss of customer funds for a “security incident”, it talked about repaying the losses, Cointelegraph concluded.

(With insights from Cointelegraph)