Australia has broken into the top three countries internationally in terms of the number of cryptocurrency ATMs.
With 234 cryptocurrency ATMs as per the most current reports, Australia is now third worldwide in terms of crypto installations. The country is now just behind the United States and Canada after installing 16 new units in the first month of the year.
According to Coinatmradar, Australia has 234 crypto ATMs, moving up to third position in the world. 99 cryptocurrency ATMs were initially installed in Australia over the final three months of 2017.
Australia is lagging behind North America, where 94.4% and 86.9% of all crypto ATMs are located, respectively.The nation surpassed other governments, such as Spain, which has 222 crypto ATMs, and rose to the fourth position late last year, prompting the upgrade.
Coolangatta was one of the areas in Australia where these crypto ATMs were deployed around the beginning of January 2023.However, compared to conventional 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 possibility to acquire tiny amounts of bitcoin is one of the additional features.
In the quarter of the previous year, around 38,609 crypto ATMs were deployed by an average of 602 operators throughout 78 nations. Australia, which had been in fourth place, moved up to third place by installing the most ATMs in the previous six months.
Despite the fact that blockchain technology is the future of finance, a lack of understanding of it prevents the cryptocurrency market from expanding. Additionally, high transaction costs impede market expansion.
However, the size of the worldwide cryptocurrency ATM business 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 locations have all started to host crypto ATM installations. Additionally, Walmart and Coinstar collaborated to put up more than 200 bitcoin ATMs across the country.
