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Monday, September 26, 2022

The United States Has Dominated The Installations Of Crypto ATMs

It can be mentioned without a shred of doubt that the United States plays quite a major role in the preservation of the crypto ecosystem and Bitcoin.

Now, this role comes despite the myriads of federal and state regulatory hurdles that the cryptocurrency sector faces repeatedly in the region. With the movement of China out of the picture after a permaban on crypto, the Western superpower has constantly maintained the top position when it comes to hash rate contribution and the installation of ATMs worldwide. Before a crackdown on BTC mining was approved, China used to historically represent close to 50% of the total hash rate- as early as February 2021. With China completely out of the competition, the USA did pick up the slack in order to turn out the highest BTC hash rate contributor.

The United States Has Been A Major Leader In The Crypto Space

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Although the miners from China restarted their operations back in the September of 2021, the miners in the United States did continue to dominate the space while they constantly increased their contribution to the hash rate month-over-month. Along with that, the US is also the home to the highest number of installations of ATMs, which represents around 88% of the total crypto ATM installations throughout the world.

Over 90% of the total crypto ATMs that have been installed worldwide have been installed in the US. According to Data gleaned from Coin ATM Radar, it has been confirmed that the tren would be continuing to July as the US did see the installation of around 641 out of the 710 Bitcoin and crypto ATMs that were installed in the first 10 days of the month. 

After the United States, the country with the second-largest network of crypto ATMs is Canada- which further strengthens the position of North America in the ecosystem of crypto.

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