Australia currently has 234 cryptocurrency ATMs, placing it third in the world according to recent reports. The country is now just behind the United States and Canada after installing 16 new machines in the first month of the year.
Australia Crypto ATM Installation
According to Coinatmradar, Australia has 234 crypto ATMs, moving up to a third position in the world. 99 cryptocurrency ATMs were initially installed in Australia over the last three months of 2022. Australia is trailing behind North America, where 94.4% and 86.9% of all crypto ATMs are located, respectively.
The update comes after the country surpassed other states, such as Spain, which has 222 cryptocurrency ATMs, and rose to the fourth position last year.
Coolangatta was one of the areas in Australia where these crypto ATMs were installed at the beginning of January 2023.
However, compared to traditional cryptocurrency ATMs, these ATMs operate more quickly and save time. This relevance is due to their L2 Lightning solution, which distinguishes them from other providers of digital services. The ability to buy minor amounts of bitcoin is one of the additional features.
Also Read: Bitcoin ATM: How to use them?
Installation Of Crypto ATMs Globally
A total of 38,609 crypto ATMs were deployed in 78 different countries during that quarter of last year, by 602 crypto operators on average. Australia, which had been in fourth place, moved up to third place by installing the most ATMs in the last six months.
Despite the fact that cryptocurrencies are the future of Fintech, the development of the crypto market is hampered due to a lack of understanding of blockchain technology.
However, the size of the global cryptocurrency ATM market is predicted to expand at a compound annual rate of 61% from last year and reach $5.4 billion by 2030.
Hospitals, restaurants, and other places all have begun to accommodate crypto ATM installations. Additionally, Walmart and Coinstar collaborated to put up more than 200 bitcoin ATMs across the country.