Australia now boasts the world’s third-largest network of Bitcoin ATMs, having surpassed Asia in the number of installations. As per Coin ATM Radar data, the country has been aggressively deploying cryptocurrency ATMs since the start of 2023 and has climbed up from the fifth position to the third spot in just one month.
In contrast, Europe and the US have witnessed a decline in the number of crypto ATM installations over the past eight months, whereas Australia has been consistently adding more.
Despite being home to major economies like China, Japan, Singapore, and India, Asia only accounts for 1% of the global crypto ATM installations, with 355 crypto machines. Australia, on the other hand, has installed 364 crypto ATMs after several months of continuous additions.
Global Bitcoin ATM Numbers Decrease
The total BTC ATMs installed worldwide showed a consistent decline, according to data from CoinATMRadar, with only 33,905 active Bitcoin ATMs worldwide today, down from 36,687 that were running just last month.
However, the popularity of Bitcoin ATMs has been increasing steadily in the past few years due to their accessibility and the ease with which people can invest in cryptocurrencies without going through Know Your Customer (KYC) procedures.
The number of cryptocurrency ATMs installed globally has increased drastically from January 2020 to January 2022, with the number of machines increasing more than fivefold to reach 34,388.
Despite the high demand for Bitcoin ATMs in previous years, many Bitcoin ATM networks were affected by the bear market, leading to low installation rates in September 2022, even though there were nearly 39,000 ATMs operating worldwide.
This represents a growth of 3,818% since 2017. However, there has been some recovery, and the year ended on a positive note, with Bitcoin closing at $39,191.
According to CoinATMRadar’s speed chart, an average of 20.1 new crypto ATMs were installed daily in the last 60 days, with the speed based on the previous seven days.
Moreover, General Bytes is currently in first place with 28.9% of the global crypto-ATM market, followed by Bitaccess (20%), Genesis coin (16.9%), Bitstop (6.1%), Bytefederal (2.9%), and others (8.3%).
However, the increase in the number of cryptocurrency ATMs is a clear indication of the growing interest and adoption of cryptocurrencies worldwide.
Nevertheless, Australia’s success in surpassing Asia regarding the total number of crypto ATMs installed is a remarkable achievement. It highlights the country’s willingness to embrace new technologies and innovations.
Related Reading | Unchained Unleashed: Bitcoin Custody Provider Raises $60M To Expand Offerings
