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Australia ranks 3rd in crypto ATM installations after the US and Canada

Published on

January 25, 2023
Read Time:1 Minute, 39 Second

Regardless of the bear market and record-low momentum of recent Bitcoin ATM installations around the globe, Australia is breaking into the highest three nations globally by the variety of crypto ATMs. The Aussies solely managed fourth place within the first days of January – since then they've put in 16 extra machines.

In line with Coinatmradar Data, Australia now has 234 crypto ATMs, which places it third on the planet after the US and Canada. In three weeks, it has surpassed Spain, which has 222 crypto ATMs.

It is all about momentum — Australia deployed 99 crypto ATMs within the final three months of 2022, practically half of its whole. And it is not slowing down. Since January 1st, Australia has put in 16 new ATMs, whereas Spain has truly misplaced 4 and El Salvador, which ranks fifth on the planet, has not recorded a single new ATM.

Crypto ATM distribution by continents and nations. Supply: CoinATMRadar

General, Australia's numbers, in addition to these of Spain and El Salvador, may hardly match the large share of crypto ATMs within the US. The states are residence to 33,387 or 86.9% of all of the machines on the planet. Together with Canada (2,556) on the time of writing, they maintain a staggering 94.4% of all crypto ATMs.

Associated: The best way to Purchase Bitcoin in Australia?

A year-long bear market in 2022, accompanied by geopolitical tensions and world inflation, led to a dramatic slowdown in crypto ATM installations. Solely 94 Bitcoin ATMs had been added to the worldwide community between July and the top of 2022, in comparison with 4,169 ATMs within the first half of 2022.

In January 2023, the Australian metropolis of Coolangatta obtained its first Bitcoin ATM with built-in Lightning Community capabilities. It really works equally to conventional crypto ATMs however saves vital time because of the Layer 2 Lightning resolution. And in addition permits for the acquisition of very small quantities of BTC.

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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : January 25, 2023
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