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

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Despite the bear market and record momentum in new Bitcoin ATM installations around the world, Australia ranks among the top three countries in the world in terms of the number of crypto ATMs. It was only in the first days of January that the Australians came in fourth place since they installed 16 more machines.

According to data from Coinatmradars, Australia now has 234 crypto ATMs, ranking it third in the world after the United States and Canada. In three weeks, it surpassed Spain, which has 222 crypto ATMs.

It’s all about momentum Australia deployed 99 crypto ATMs, almost half of its total number, in the last three months of 2022 alone. And it’s not slowing down. Since January 1, Australia has installed 16 new machines, while Spain has lost 4 and El Salvador, which ranks fifth in the world, has not registered any new ATMs.

Distribution of Crypto ATM by continents and countries. Source: CoinATMRadar

Overall, the numbers from Australia, along with those from Spain and El Salvador, could hardly match the huge proportion of crypto ATMs in the United States. States are home to 33,387 or 86.9% of all machines in the world. Along with Canada (2,556) at the time of writing, they hold 94.4% of all crypto ATMs.

Related: How to buy Bitcoin in Australia?

A one-year bear market in 2022, accompanied by geopolitical tensions and global inflation, has led to a dramatic slowdown in crypto ATM installations. Only 94 Bitcoin ATMs were added between July and the end of 2022 to the global network, compared to 4,169 ATMs in the first half of 2022.

In January 2023, the Australian city of Coolangatta got its first Bitcoin ATM with built-in Lightning Network capabilities. It works the same way as traditional crypto ATMs, but saves a lot of time thanks to the Lightning layer 2 solution. And also allows very small amounts of BTC to be purchased.

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