SNEAK PEEK
- Australia had a total of 225 Bitcoin ATMs by the end of 2022.
- The country surpassed El Salvador and Poland in this ATM rush down.
- Australia has come to embrace and value digital currencies.
After installing about 150 machines in the last four months of 2022, Australia had a total of 225 Bitcoin ATMs by the time 2022 came to a close. As a result of these significant developments, Australia has surpassed El Salvador and Poland to reach the position of owning the fourth-highest number of cryptocurrency ATMs of any country in the world. This is according to data from the analytics firm CoinATMRadar.
A significant change was brought about as a direct result of the installation of 99 bitcoin ATMs throughout the whole of Australia during the fourth quarter of 2022. According to the available data, the country once had 216 crypto ATMs that were operational.
At the current pace, Australia is in a strong position to take over Asia’s number of cryptocurrency ATMs, which accounts for 0.6% of the world’s total crypto ATM installations. In Asia, there are now 312 ATMs in total. Notably, there are also 38,602 cryptocurrency ATMs spread around the globe, with 6,071 of those ATMs being built in 2022 alone.
The increase in Bitcoin ATM installations in Australia coincides with expectations for further cryptocurrency regulation in the new year after the multi-billion dollar failure of the insolvent cryptocurrency exchange, FTX.com, situated in the Bahamas. However, there are regulations that exist in Australia that would stop money laundering, sponsorship of terrorism, and other illegal actions employing digital currencies.
It is important to realize that Australia has a rising number of cryptocurrency ATMs, which indicates that the nation has come to embrace and value digital currencies. It is expected that these ATMs will spread more widely as more companies and people utilize them to purchase, sell, and exchange cryptocurrencies.
