Australia Becomes Third Country After US And Canada To Install More Number of Crypto ATMs

January 25, 2023

bitcoin atm

Australia puts itself in the third spot globally after USA and Canada, after installing its 234th Crypto ATM, It was only at the beginning of January when Aussies hit the fourth spot, since then it has installed 16 more machines, while Spain lost 4 of them and El Salvador which stands at the fifth spot has not added even a single new ATM in the month of January.

A year-long bear market in 2022, which was accompanied by global inflation and geopolitical tensions led to dramatically slowdown in the installation of Crypto ATMs. As a result, only 94 Bitcoin ATMs were added between July to December 2022 on the global network in contrast to approximately 4000 ATMs being added in the first half of the year.

Overall, it was difficult for Australia, Spain, or El Salvador to match the enormous number of Crypto ATMs in the USA. The USA and Canada house around 94.4% of all machines in the world together with 86.9% in the USA alone.

However, Australia made took a great leap ahead. According to Coinatmradar’s data, the country outperformed Spain which possesses 222 crypto ATMs and made it to the third spot globally with 234 crypto ATMs. It was all about strategy dynamics that Australia deployed 99 crypto ATMs in the last three months of 2022 which is almost half of its total number. Since then the country has not slowed down its installation processes,

However, it was in January 2023, when Coolangatta, the Australian city installed its first Bitcoin ATM that was integrated with Lightning Network capabilities. Thus, it worked similarly to traditional crypto ATMs but is known to save significant time due to the inclusion of a layer -2 Lightning Network. Alongside, it also allows purchasing smaller amounts of BTC too.

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