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World desk5 min

Why Are More People Seeing Crypto ATMs—and What Does That Really Mean?

Reported U.S. crypto-ATM installations climbed through June 2024, but the figures show wider availability—not how many people use kiosks or why. Here’s what the evidence says, what to check before a transaction, and how to spot scam demands.
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Walk-up crypto services—usually called crypto ATMs, Bitcoin ATMs, or crypto kiosks—turn cash into cryptocurrency and send it to a wallet address. The number of reported U.S. machines grew sharply through June 2024, but that shows wider availability, not that more people are using them. The evidence does not establish one cause for the expansion; cash access and in-person placement may be convenient for some customers, but those are plausible explanations rather than proven drivers.

What a walk-up crypto service does

A crypto ATM is not a conventional ATM that dispenses cash. It accepts cash and sends cryptocurrency to a wallet address, often after the customer scans or enters that address. The exact assets, transaction limits, identity checks, and options for selling crypto vary by operator and jurisdiction. The U.S. Commodity Futures Trading Commission describes crypto-ATM transactions and warns that transfers to an address supplied by another person cannot be reversed: CFTC guidance on crypto-ATM scams.

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Are crypto ATMs becoming more popular, or are there simply more of them?

The clearest evidence is about machine availability. The Federal Trade Commission cited operator self-reports to the industry tracker Coin ATM Radar showing about 4,250 U.S. Bitcoin ATM installations in January 2020 and about 32,000 in June 2024. Those are reported installation counts—not counts of customers, visits, or transactions. The figures establish that the machines became more widely available, but do not prove that use rose at the same rate or explain why the installation count changed. See the FTC’s 2024 report on Bitcoin ATM scams.

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Broader crypto-use surveys cannot fill that gap because they do not identify the purchase channel. The Federal Reserve reported that 10% of U.S. adults used cryptocurrency for any measured purpose in 2025, compared with 12% in 2021. In 2025, 9% bought or held crypto as an investment, 2% used it to buy something or make a payment, and 1% sent it to friends or family. These figures describe cryptocurrency use overall, not kiosk use; investment holding was more common than the measured transactional uses. The figures come from the Federal Reserve’s 2025 household well-being report.

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In the UK, the Financial Conduct Authority’s research, based on YouGov panel fieldwork from 5 August to 2 September 2025, found that 73% of cryptoasset users had bought or obtained crypto through a centralized exchange, up 4 percentage points from 2024. That is UK evidence about acquisition methods generally, not a measure of kiosk use. It is a reminder that online exchanges remain an important channel, but it does not establish why a person chooses one option over another. See the FCA’s 2025 cryptoasset consumer research.

Why someone might choose a kiosk

A kiosk may appeal to someone who wants to exchange cash for crypto in person, has a nearby machine, or finds a physical transaction easier to navigate than an online account. Those are possible convenience factors, not causes established by the installation figures or the national surveys. Availability may make the service visible and accessible to some customers; it does not show how frequently they use it, whether it is cheaper, or whether they prefer it to online services.

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Before choosing any channel, compare the specific terms rather than assuming that a machine is simpler or less expensive. Check whether it accepts cash and supports the action you need, the full fee and quoted exchange rate, supported assets, limits, identity verification, where the crypto will be sent or held, receipt and support procedures, and the legal protections available where you live. The available evidence does not establish current provider-by-provider fees or terms, so those details must be checked with the operator before a transaction.

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What the fraud figures show

Convenient access also makes kiosks a target for scam instructions. The FTC estimated that reported fraud losses involving Bitcoin ATMs rose nearly tenfold from 2020 to 2023 and exceeded $65 million in the first half of 2024. It estimated that about 86% of BTM fraud-loss reports in that half-year involved government impersonation, business impersonation, and/or tech-support scams, excluding reports that did not specify a scam type. The FTC derived these estimates through keyword analysis of report narratives; they reflect reported cases and may understate actual harm because not everyone reports fraud. They are not a measure of all kiosk activity.

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More recent figures show the same serious risk, not a total count of kiosk use. The CFTC reported more than $388 million in crypto-ATM scam losses in 2025, based on FBI Internet Crime Complaint Center data, a 58% increase over 2024. These are reported losses, not a measure of all actual losses or transactions. The CFTC’s consumer advisory warns that a transfer to an address provided by another person cannot be reversed.

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How to recognize a scam demand

Stop if anyone contacts you unexpectedly and tells you to withdraw cash and feed it into a crypto ATM to protect your money, resolve an account problem, pay a fee, or handle an emergency. A caller may claim to represent a government agency, a business, or technical support; the kiosk transfer still sends crypto to an address, and it may be impossible to recover.

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  • Do not withdraw cash or scan a QR code supplied by the caller or message.
  • End the conversation. Do not rely on a phone number, link, or callback instruction the contact gave you.
  • Contact the organization independently using contact details from a source you already trust, and ask whether the claimed problem is real.
  • If you already sent crypto, keep the receipt, wallet address, messages, and other transaction details, and report the incident to the relevant authorities in your jurisdiction. A report may help investigators, but it cannot guarantee that funds will be recovered.

The FTC says real businesses and government agencies will not instruct people to use a Bitcoin ATM to protect funds or fix a problem. The CFTC likewise states: “No government agency, legitimate financial institution, or reputable company will instruct you to move money using crypto ATMs, gift cards, or couriers.”

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Rules and protections depend on where you are

There is no single global set of crypto-ATM requirements. In Australia, AUSTRAC announced on 17 July 2025 that providers would face a A$5,000 limit on cash deposits and withdrawals, enhanced customer due diligence, and mandatory scam warnings. The announcement followed a taskforce finding that some providers were not meeting anti-money-laundering and counter-terrorism-financing obligations. AUSTRAC also said Australian crypto ATMs handled approximately 150,000 transactions moving close to A$275 million each year. These are Australian figures and announced Australian conditions, not universal rules; check the current requirements where you live. See AUSTRAC’s announcement.

Quick Recap

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Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

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