Australia Becomes the Fourth-Largest Crypto ATM Hub after Overtaking El Salvador

Subh Rath

January 3, 2023

At the start of 2023, 219 Bitcoin (BTC) ATMs were dispersed across Australia. At the same time, there were 68 cryptocurrency ATMs in the Melbourne and Sydney metropolitan areas (61 ATMs). Hence, banks in Australia are increasingly outfitting their ATMs to accept Bitcoin (BTC).

According to CoinATMRadar, 113 new bitcoin ATMs have been installed around Australia in the previous three months. In fact, in December alone, this country built 49 ATMs.

Australia Overtaking El Salvador with More Bitcoin ATMs:

El Salvador, the first country that legalized Bitcoin, has now fallen another rank in total crypto ATM installations, with Australia reporting 216 ATMs as we approach 2023, according to Cointelegraph.

According to Cointelegraph, El Salvador’s President Nayib Bukele has decided to install more than 200 bitcoin ATMs nationwide to make Bitcoin legal tender. El Salvador was the third-largest hub for bitcoin ATMs in September 2021, behind the United States and Canada. Still, in 2022, Spain and Australia surpassed El Salvador’s ATM density.

Other Countries Take on Crypto ATMs:

After rapidly constructing 215 cryptocurrency ATMs in October 2022, Spain jumped to third place. So now, there are 226 Bitcoin ATMs in operation around the country, and this trend seems to continue.

Moreover, according to data compiled by Cointelegraph, Spain’s 215 cryptocurrency ATMs make it the third most prolific country for this payment method globally. Despite this, Spain has maintained its installation pace and has 226 crypto ATMs available to the public as of this writing

Likewise, Australia’s progress in the following months meant that El Salvador’s brief reign as the fourth-largest center for crypto ATMs was short-lived.

To promote the use of its own central bank digital currency (CBDC), the eNaira, the government of Nigeria limited weekly ATM cash withdrawals to $225 (100,000 nairas).

Currently, 0.5% of all Bitcoin ATMs are located in El Salvador, with 0.6% each in Spain and Australia. Canada, however, remains the industry leader, with 2,558 ATMs accounting for 6.6% of the global Bitcoin ATM market. Contrarily, America is home to 81% of all Bitcoin ATMs.

Conclusion:

By the beginning of 2023, 38,602 ATMs were operating globally, with 6,071 installed in 2022. This increase in crypto ATMs internationally reflects the global expansion and adoption of the installation and use of BTC and Crypto ATMs – a growth approach for Crypto that was long awaited!