7 months ago
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By April 2023, the country had already overtaken Asia on the Bitcoin ATM count roll.
Active Bitcoin ATMs in Australia have now crossed the 1,000 mark, making the country the third-largest hub for crypto ATMs. As of publication, Australia now hosts an active network of 1,002 Bitcoin ATMs, and joins the United States and Canada as the only countries to achieve this feat.
Australia’s latest figure means that the country now hosts 2.7% of the global Bitcoin ATM network. Meanwhile, the data from Coin ATM Radar suggests that the US hosted its first 1,000 crypto ATMs in November 2017. Canada also hit the milestone in January 2021.
However, the US has now added many more, and is now home to 31,170 machines, an impressive 82.8% of the global Bitcoin ATMs. Canada on the other hand currently controls 2,918 crypto ATMs, accounting for 7.8% of the global lot.
Growing Adoption of Bitcoin ATMs in Australia
Interestingly, the Bitcoin ATM market was relatively inactive in Australia until the end of 2022. However, as private firms began to enter into the market, it blossomed exponentially.
The timing of this surge is noteworthy, with Australia’s ascent coinciding with a global wave of interest in cryptocurrencies. By April 2023, the country had already overtaken Asia on the Bitcoin ATM count roll. That means it had a count greater than China, Japan, Singapore and India combined.
With its current installation momentum, Australia is poised to surpass even Europe any time soon. Europe currently boasts a network of 1,617 Bitcoin ATMs, representing 4.3% of the global size. Member countries in Europe that have significant numbers of crypto ATMs include Spain with 261, El Salvador (215), Poland (211), and Germany (194).
Australia’s journey towards crypto dominance is not without challenges. Regulatory scrutiny, security concerns, and market volatility stand as potential roadblocks. However, the nation’s unwavering commitment to innovation and its embrace of emerging technologies speak well for a promising future in the crypto sphere.
As Australia celebrates this milestone, it sends a clear message to the world about its intent to be at the forefront of global crypto adoption. Despite a slow start, Australia may just have positioned itself as a global crypto hub.
