Australia achieved a new milestone by becoming the third-largest host for Bitcoin ATMs, joining the United States and Canada as the countries with over 1,000 active crypto-fiat machines, according to April 24 data from Coin ATM Radar.
Australia now boasts an active network of 1,008 Bitcoin ATMs, representing 2.7% of the global crypto ATM distribution.
The United States leads the chart with 82.8% of the global share, hosting 31,179 crypto ATMs, and Canada comes second with 2,918 ATMs, which accounts for 7.7%.
Australia has 1,008 active Bitcoin ATMs
Bitcoin kiosks continue to gain traction, and many countries now operate a large number of them. These include Spain (261), El Salvador (215), Poland (211), Germany (194), and Hong Kong (157).
Bitcoin ATMs are machines that allow users to buy or sell Bitcoin and other cryptocurrencies using cash or debit/credit cards. These machines often mirror traditional bank ATMs but function differently. The ATMs connect to a cryptocurrency exchange or platform, allowing users to conduct transactions.
In April 2023, Coin ATM Radar reported that the Asian continent had 355 crypto machines, representing 1% of the total crypto ATMs installed worldwide. Australia had 225 machines alone in June 2023, however, accounting for 0.6% of the global Bitcoin ATM distribution.
The rapid surge in Bitcoin ATMs across Australia reflects a growing national interest in cryptocurrency. According to Statista data, almost 1 in 4 adults own a crypto asset. This growth is evident in increasing trading volumes on exchanges and a major spike in the daily active users of cryptocurrency wallet apps.
Despite the uptick in cryptocurrency trading, the number of businesses in Australia that either have a crypto ATM or offer crypto as an in-store payment method is still relatively low across all industries.
Global Bitcoin ATM Installation Growth & Supported Cryptocurrencies
According to a Coin ATM Radar report on April 18, the growth of Bitcoin ATMs has seen a modest increase, with a prediction for a global surge in Bitcoin ATM installations due to more crypto users, which in turn increase the demand for the machine
In March, the United States added 360 machines (a 1.2% increase). Australia followed with 44 new installations (a 4.9% increase), and Canada added 41 new devices (a 1.4% increase).
Luxembourg also joined the list with its first Bitcoin ATM in Épicerie Damas.
Australia’s Bitcoin ATM installation recorded a 4.9% growth
Interestingly, the percentage of Bitcoin ATMs supporting other cryptocurrencies increased to 61.4%.
In March 2024, the most added coins were Tether with 3,640 additions (77.73% increase), Ether with 949 additions (5% increase), and Litecoin with 911 additions (4.66% increase).
Top cryptocurrencies adopted bitcoin ATM’s in March 2024: Tether +3640 / 78%, ETH +949 / 5%, Litecoin +911 / 5%, Altcoins +872 / 4%, Dodgecoin +541 / 6%, BTC +498 / 1%
More info here: https://t.co/sBtIlH2pPH pic.twitter.com/kinH87i6PD
— Coin 𝔸𝕋𝕄 Radar ₿ (@CoinATMRadar) April 23, 2024
Other altcoins, such as Dogecoin and Bitcoin Cash, were added to 541 (a 6% increase) and 154 machines (a 1.73% increase), respectively, while Ripple offerings were suspended in 22 Bitcoin ATMs (a 1.76% increase).
#Cryptocurrency #ATM industry statistics for March 2024: 699 installed, 192 closed, +507 (1.4%) net growth rate. More details: https://t.co/QyEPBPx1Ce pic.twitter.com/KJo8sNgclt
— Coin 𝔸𝕋𝕄 Radar ₿ (@CoinATMRadar) April 18, 2024
The Bitcoin ATM map tracker also revealed industry statistics for March 2024, showing 669 new installations, 192 closures, and a net growth rate of +507 (1.4%).
The post Australia Now Has Over 1,000 Bitcoin ATMs: Report appeared first on Cryptonews.