Despite the global bear market and record-low numbers of Bitcoin ATMs being installed, Australia is now one of the top three countries for cryptocurrency ATMs.
The Australians took the fourth slot only in the first few days after January began. Since then they have added 16 additional computers to their network. Coinatmradar data shows that Australia has 234 crypto ATMs. This places Australia in third place in the world, behind Canada and the United States.
It beat Spain by three weeks, with 222 crypto ATMs.
It’s all about the dynamics: Australia installed 99 crypto ATMs in just three months of 2022. That’s more than half the country’s total number.
Australia has added 16 ATMs since the start of the year. Spain lost 4. El Salvador has not registered one new ATM. This category is a leader in the world.
There are not enough cryptocurrency ATMs in Australia or Spain to match the many in the United States. 33,387 US-based machines account for 86.9% of the total machines worldwide.
They are able to hold a staggering 94.4% share of all crypto ATMs, along with Canada (2.5556 at the time).
The bear market that lasted until 2022 was accompanied by increased geopolitical tensions, inflation, and global instability led to a substantial decrease in the number of ATMs for cryptocurrency.
Comparatively, just 94 Bitcoin ATMs were added into the global network between July 2022 and December 2022. This contrasts with the 4,169 Bitcoin ATMs present in the first half 2022.
Coolangatta in Australia was the location of the first Bitcoin ATM that integrated Lightning Network capabilities. It was installed in January 2023.
The system functions in an analogous way to conventional cryptocurrency ATMs. However, the layer-2 Lightning solution allows you to save significant time.