- According to statistics from Coin ATM Radar as of April 24, Australia hit a new record by ranking as the third-largest host country for Bitcoin ATMs.
- Australia now joins the US and Canada as the only countries with more than 1,000 operating crypto-fiat machines.
With 1,008 Bitcoin ATMs operating in its network, Australia currently accounts for 2.7% of all cryptocurrency ATMs worldwide.
With 31,179 crypto ATMs and 82.8% of the worldwide market, the United States tops the table. Canada is next with 2,918 ATMs and 7.7%.
Bitcoin kiosks are becoming more and more popular; numerous nations currently run a sizable number of them. Among them are Germany (194), Poland (211), El Salvador (215), Spain (261), and Hong Kong (157).
Bitcoin ATMs are devices that let customers use cash or debit/credit cards to buy or sell Bitcoin and other cryptocurrencies. Despite having distinct functions, these devices frequently resemble conventional bank ATMs. The ATMs allow customers to perform transactions by connecting to a cryptocurrency exchange or platform.
According to Coin ATM Radar’s April 2023 report, 355 cryptocurrency ATMs—or 1% of all installed cryptocurrency ATMs globally—were located in Asia. However, as of June 2023, Australia alone accounted for 225 machines, or 0.6% of all Bitcoin ATMs worldwide.
Australia’s quick increase in Bitcoin ATMs is indicative of the country’s growing interest in cryptocurrencies. Nearly one in four adults own cryptocurrency assets, according to Statista data. Growing trade volumes on exchanges and a significant increase in the number of daily active users of cryptocurrency wallet apps are indicators of this expansion.
In Australia, there are currently comparatively few companies in all industries who either have a cryptocurrency ATM or accept cryptocurrency payments in-store, even with the recent surge in cryptocurrency trading.
Installation of Bitcoin ATMs Worldwide and Supported Cryptocurrencies
A Coin ATM Radar analysis from April 18 states that while the number of Bitcoin ATMs has grown somewhat, there is expectation that more people will utilize cryptocurrencies globally, leading to an increase in the demand for the ATMs.
The US added 360 machines in March, representing a 1.2% rise. Canada introduced 41 new ATMs (a 1.4% rise) while Australia followed with 44 new installations (a 4.9% increase).
It’s interesting to see that 61.4% of Bitcoin ATMs now accept other cryptocurrencies.
The most added coins in March 2024 were Litecoin with 911 additions (4.66% rise), Tether with 3,640 additions (77.73% increase), and Ether with 949 additions (5% increase).
While 22 Bitcoin ATMs stopped accepting Ripple offerings, other cryptocurrencies including Dogecoin and Bitcoin Cash were added to 541 (a 6% increase) and 154 (a 1.73% increase) machines, respectively.
In addition, industry figures for March 2024 were made available by the Bitcoin ATM map tracker. These showed 669 new installations, 192 closures, and a net growth rate of +507 (1.4%).
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
