Despite the bear market and record dynamics of new Bitcoin ATM installations around the world, Australia ranks in the top three nations globally for the number of crypto ATMs. It was only in the first days of January. when the aussies got to fourth place โ since then they have installed 16 more machines.
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 it surpassed Spain, which has 222 crypto ATMs.
It's all about dynamics: Australia rolled out 99 crypto ATMs, which is nearly half its total number, in the last three months of 2022 alone. And it's 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 registered a single new ATM.
Overall, the numbers for Australia, as well as those for Spain and El Salvador, could hardly match the huge proportion of crypto ATMs in the US. The states are home to 33,387 or 86.9% of all machines in the world. Together with Canada (2,556) at the time of writing, they have an impressive 94.4% of all crypto ATMs.
Related: How to buy Bitcoin in Australia?
A year-long bear market in 2022, accompanied by geopolitical tensions and global inflation, resulted in a dramatic slowdown of the installations of cryptographic ATMs. Only 94 Bitcoin ATMs were added between July and the end of 2022 to the global network in contrast to 4,169 ATMs during the first half of 2022.
In January 2023, the Australian city of Coolangatta got its first Bitcoin ATM. with built-in Lightning Network capabilities. It works similar to traditional crypto ATMs, but it saves a lot of time thanks to the Lightning layer 2 solution. And it also allows you to buy very small amounts of BTC.
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