Australia Climbs to Third Place in Crypto ATM Installation Worldwide

• Australia now ranks third in crypto installation worldwide, with 234 cryptocurrency ATMs
• Australia trails behind the US and Canada, which make up 94.4% and 86.9% of all crypto ATMs respectively
• Recent data from Coinatmradar shows that Australia installed 16 new machines this first month of the year

Australia has recently climbed to third place in the world for the amount of cryptocurrency ATMs it has installed, according to recent data from Coinatmradar. This month, the nation has installed 16 new machines, bringing the total to 234, now only trailing the United States and Canada. Per the data, the US and Canada collectively make up 94.4% and 86.9% of all crypto ATMs respectively.

At the beginning of January 2023, Coolangatta was among the regions these crypto ATMs were installed in Australia. These ATMs are unique in that they come with a Layer 2 Lightning solution, which allows them to provide faster digital services and the ability to purchase small amounts of bitcoin.

This growth in the number of ATMs comes as part of a global trend. According to data from Coinatmradar, in the last quarter of 2020, 602 crypto operators installed over 38,609 crypto ATMs spread across 78 countries worldwide. Australia was in fourth position and installed the highest number of ATMs within the past six months, raising its status to third place.

Despite the growth of the crypto market, there are still some barriers in the way of its further expansion. One of the primary issues is the lack of knowledge about blockchain technology, which can limit the growth of the market. Additionally, high transaction fees and the lack of regulation can be a deterrent for some potential users.

As the crypto market continues to expand and develop, Australia will remain a key player in the industry. As the number of crypto ATMs increases, the nation’s position within the industry is becoming increasingly important. With the addition of 16 new machines this month, Australia is now firmly in third place in terms of crypto ATM installation, and will continue to be a key player in the industry.