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About GENERAL BYTES
GENERAL BYTES manufactures bitcoin, blockchain, and cryptocurrency automated teller machines (ATMs). The company offers products such as BATMTwo, BATMTwoPro, BATMTwoUltra, and more. It was founded in 2013 and is based in Prague 7, Czech Republic.
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Latest GENERAL BYTES News
Apr 3, 2023
Over 3600 BTC ATMs went offline to record the largest monthly decline According to recent reports, over 3600 BTC ATMs went offline to record the largest monthly decline. Contradicting the growing global BTC adoption rate, physical ATMs dedicated to fiat-crypto conversions are declining. After removing over 3600 BTC ATMs from the network, the total ATM number has reached 33,727. Decline in the total number of BTC ATMs In the decade since the first BTC ATM was launched on Oct 29, 2013, the net change of crypto machines installed and removed remained positive most times. It implies that the total crypto ATM worldwide were steadily increasing. However, the trend is reversing, according to data from Coin ATM Radar which is a negative sign. As we can see above, the net crypto ATM installations declined for four months between Sept 2022 and March 2023. However, with the latest closure of 3,627 crypto ATMs, March 2023 has become the month with the largest monthly decline. It is not good for the crypto industry. This chart shows the number of BTC machines installed over the years, revealing the sudden drop in the total number of crypto ATMs. The significance of this reduction seems enormous, considering that the highest number of bitcoin ATMs installed in a month was over 2000, back in Jan 2021. However, positive news came out, which stated that April broke the three-month-long downtrend by recording more than 30 BTC machines installed on April 1, 2023. Current market leaders in this industry are General Bytes and Genesis Coin. BTC Machine market leader General Bytes experienced a security incident As you know, over 3600 BTC ATMs went offline to record the largest monthly decline. This is not good for the crypto industry as well as for the companies like General Bytes. Besides that, General Bytes also experienced a security incident on 17-18th March, where they lost a massive amount of customer funds after the hacker accessed their customer’s hot wallet. However, they have promised their customer to reimburse the losses. On March 18, General Bytes also released a statement stating that they have taken immediate steps to prevent further unauthorised access to your systems and are working tirelessly to protect our customers. What are your thoughts on the decline in the total number of crypto ATMs? How do you think it will impact the crypto industry? Let us know in the comments below. And if you found our content informative, share it with your family and friends.
GENERAL BYTES Frequently Asked Questions (FAQ)
When was GENERAL BYTES founded?
GENERAL BYTES was founded in 2013.
Where is GENERAL BYTES's headquarters?
GENERAL BYTES's headquarters is located at U Pergamenky 1522/2, Prague 7.
Who are GENERAL BYTES's competitors?
Competitors of GENERAL BYTES include Just Cash and 4 more.
Compare GENERAL BYTES to Competitors
Genesis operates as an autonomous vending solution provider for bitcoin. The company offers bitcoin automated teller machines (ATMs). It was founded in 2013 and is based in Miami, Florida.
Red Leaf Chicago is a Bitcoin ATM company based in Chicago, Illinois. Convert Bitcoin into dollars or withdraw cash from any one of its two-way model Bitcoin ATMs.
Coin Outlet is a rapidly growing startup that manufactures AML / KYC compliant Bitcoin Kiosks (similar to an ATM) with two-way transaction via a recycler and secure fulfillment services with bank grade security. It plans to provide a convenient means for the general public to safely buy and sell bitcoins with cash.
Operator of cryptocurrency ATM vending machine and provider of training, support, and software development for the Bitcoin ecosystem.
Just Cash connects mobile apps to ATMs so customers can access cash at an ATM without a card.
Decentral is a hub and software company focused on blockchain technologies. Decentral is the maker of Jaxx Liberty, a multi-platform cryptocurrency wallet, is home to a two-way Bitcoin ATM, and hosts community driven events in the domains of blockchain and decentralized technologies.
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