Australia Becomes the Third Most Country in the World to Have Crypto ATMs

Australia is now entering the top three countries globally with the number of crypto ATMs. (photo: twitter @OniiChan1510)

JAKARTA - Despite the bearish market conditions and the dynamics of new Bitcoin ATM installations which have reached record lows worldwide, Australia is now one of the top three countries globally with the number of crypto ATMs. Even though at the beginning of January, the Aussies only reached the fourth position. But since then they installed another 16 ATM machines which makes it the country with the most crypto ATMs in the world.

According to CoinATMRadar data, Australia now enjoys 234 crypto ATMs, which puts it in third place globally after the United States and Canada. In three weeks they were able to outperform Spain, which has 222 crypto ATMs.

Australia deployed 99 crypto ATMs, which is almost half of its total, in just the last three months of 2022. Even those deployments of new crypto ATMs are 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 recorded a single additional new crypto ATM.

Altogether, Australia's numbers, as well as Spain and El Salvador, can barely match the huge proportion of crypto ATMs in the US. The United States is home to 33.387 or 86.9% of all crypto cash machines in the world. Together with Canada (2,556) at the time of writing, they own an astonishing 94.4% of all crypto ATMs.

A year-long bearish market in 2022, accompanied by geopolitical tensions and global inflation, resulted in a dramatic slowdown in crypto ATM installations. Only 94 Bitcoin ATMs were added between July and the end of 2022 to the global network as opposed to 4.169 during the first half of 2022.

In January 2023, the Australian city of Coolangatta got its first Bitcoin ATM with integrated Lightning Network capabilities. It works similarly to a traditional crypto ATM but saves significant time due to the Lightning layer-2 solution. And it is also possible to buy very small amount of BTC.