Thursday, May 23, 2024

Australia Now Accommodates 234 Crypto ATMs.

Australia ranks in the top three nations globally in terms of the number of crypto ATMs installed. With 234 crypto ATMs, Australia is in the third spot after the United States and Canada. It outperformed Spain which possesses 222 crypto ATMs.

In Q4 of 2022, Australia only had 99 crypto ATMs. And this has reached over 200. Australia installed 16 new machines since January 1, as per Coinatmradar’s data. Spain lost four machines and El Salvador didn’t install any new ATMs. But these countries can hardly give up to par with the United States which is home to 86.9% of all the crypto ATMs in the world. Canada accommodates 94.4%.

2022 was a year-long bear market with geopolitical tensions and inflation. The crypto market nearly came to a grinding halt and there was a dramatic slowdown in the installation of crypto ATMs. Between July to the end of 2022, only 94 Bitcoin ATMs were added to the global network in comparison to 4,169 ATMs during the first half of 2022.

Coolangatta, an Australian city, got its first Bitcoin ATM in January 2023 with integrated Lightning Network capabilities. The machine functions like any traditional crypto ATM but saves significant time due to the layer-2 lighting solution. Users can also purchase very small amounts of Bitcoin through this ATM.

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All for the test.
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