Mar 01, 2023
Net Crypto ATM Installations Plummet Worldwide
Cryptocurrency ATMs are a key component of the mass adoption of crypto, yet in the first two months of 2023, the global network saw a drastic reduction of 412 machines. This marked a new low in the history of crypto ATMs, as the total number had maintained a steady upward trajectory since 2014, with over 1,000 machines being installed every month between December 2020 and January 2022.
The bear market has had an immediate impact on the growth of crypto ATMs, with service providers looking for cheaper alternatives for operations. Bitcoin Depot, for example, converted its 7,000 physical machines to BitAccess software, reducing their annual software licensing fees by $3 million.
At the same time, payments giant Mastercard has partnered with Binance to launch a card for crypto payments in Latin America. This card offers up to 8% cash back in crypto on eligible purchases and zero fees on some ATM withdrawals, which is a great incentive for people to use crypto.
Guilherme Nazar, Binance Brazil’s general manager, stated: “Payments is one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow.”
The crypto industry is constantly evolving, and the increasing number of crypto ATMs, along with the introduction of crypto-based cards, are just some of the steps being taken to make crypto more accessible and easier to use.
The introduction of crypto ATMs has been a major step forward in the adoption of cryptocurrencies, and many businesses are now using them to provide their customers with a seamless crypto-fiat conversion experience. For instance, some businesses are offering their customers the chance to purchase NFTs with their crypto ATM, which is a great way to promote their NFTs and increase their sales.
In addition, businesses can use NFT marketing agencies to create custom campaigns to promote their NFTs on Twitter. This can be a great way to build a community and reach potential customers, as well as increase the visibility of their NFTs.
Overall, the crypto industry is continuing to grow, and the introduction of crypto ATMs and NFT marketing campaigns are just some of the steps being taken to make cryptocurrencies more accessible and easier to use. As the industry continues to evolve, more businesses will start to use crypto ATMs and NFT marketing campaigns to promote their products and services, which could lead to a wider adoption of cryptocurrencies.Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.