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Australia Ranks Third in Bitcoin ATM Deployment
Australia has achieved a significant milestone by becoming the third-largest host for Bitcoin ATMs globally, joining the United States and Canada in this ranking. According to data from Coin ATM Radar, as of April 24, Australia boasts an active network of 1,008 Bitcoin ATMs, representing 2.7% of the global crypto ATM distribution.
Global Distribution of Bitcoin ATMs
- United States: 31,179 ATMs (82.8%)
- Canada: 2,918 ATMs (7.7%)
- Australia: 1,008 ATMs (2.7%)
Following Australia, other countries with a notable number of Bitcoin ATMs include Spain (261), El Salvador (215), Poland (211), Germany (194), and Hong Kong (157).
Bitcoin ATMs Functionality
Bitcoin ATMs allow users to buy or sell Bitcoin and other cryptocurrencies using cash or debit/credit cards. These machines, similar to traditional bank ATMs, connect to a cryptocurrency exchange or platform, enabling users to conduct transactions securely.
In April 2023, the Asian continent had 355 crypto machines, with Australia alone having 225 machines, accounting for 0.6% of the global Bitcoin ATM distribution at that time.
Growth and Adoption of Bitcoin ATMs
The surge in Bitcoin ATMs across Australia reflects a growing interest in cryptocurrency within the country. Statistics from Statista indicate that nearly 1 in 4 adults in Australia own a crypto asset, leading to increased trading volumes on exchanges and a rise in daily active users of cryptocurrency wallet apps.
Recent reports suggest a global surge in Bitcoin ATM installations due to the growing demand from crypto users. In March 2024, the United States added 360 machines, Australia followed with 44 new installations, and Canada added 41 new ATMs. Luxembourg also joined the list with its first Bitcoin ATM installation.
Supported Cryptocurrencies
Notably, the percentage of Bitcoin ATMs supporting other cryptocurrencies has increased to 61.4%. In March 2024, Tether saw the most additions with a 77.73% increase, followed by Ether with a 5% increase, and Litecoin with a 4.66% increase. Dogecoin and Bitcoin Cash also saw significant increases in ATM support.
Overall, the cryptocurrency ATM industry continues to grow, with 699 new installations, 192 closures, and a net growth rate of +507 (1.4%) in March 2024.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
