Did you hear? Australia has more crypto ATMs than many other countries, putting it in the top three worldwide despite the bear market and record-low dynamics of new Bitcoin ATM installations. Compared to the US and Canada, the Australians moved up to fourth place in the opening days of January; since then, 16 additional machines have been set up to propel the country to 3rd place globally.
According to the statistics provided by Coinatmradar, Australia currently has 234 crypto ATMs, which places the nation in third place internationally after the United States and Canada regarding the number of these machines. In just three weeks, it outpaced Spain, which has 222 cryptocurrency ATMs around the country.
It’s about dynamics: Australia installed 99 cryptocurrency ATMs in just the last three months of 2022, which is almost half of the country’s machines. And since the beginning of the year, Australia has added 16 new ATMs, while Spain has shed four of them, and El Salvador, which currently sits in fifth place globally, has not reported the addition of a single new ATM.
In general, the number of cryptocurrency ATMs in Australia, Spain, and El Salvador combined could not come close to matching the large number of ATMs in the United States. The United States is home to 33,387 cryptocurrency ATMs, which account for 86.9% of all machines worldwide. The United States and Canada, which have 2,556 cryptocurrency ATMs, control a staggering 94.4% of the global total.
The First Crypto ATM in Australia:
The installation of cryptocurrency ATMs slowed dramatically in 2022 due to the bear market, geopolitical concerns, and worldwide inflation that year. Between July and December of 2022, the number of Bitcoin ATMs worldwide decreased from 4,169 to only 94.
In January, the world’s first Bitcoin ATM with Lightning Network capabilities was installed in Coolangatta, Australia. Like other crypto ATMs, this one lets you buy Bitcoin in very small increments, but with the added benefit of lightning-fast transactions and reduced wait times.
Stay tuned for more crypto-related news!