Australiaโs Growing Presence in the Global Crypto ATM Market
Australia has experienced a surge in the number of crypto ATMs, making it one of the leading Bitcoin nations. With around 1000 active crypto-fiat machines, Australia now ranks third in terms of the number of active crypto ATMs, trailing behind the United States and Canada. Interestingly, Australia owns approximately 2.7% of the worldโs Bitcoin ATMs.
These machines have gained popularity due to their ability to provide flexibility to crypto users. They allow users to easily convert their fiat currency into cryptocurrencies in real-time. Additionally, these machines support the purchase of cryptocurrencies using debit or credit cards.
A recent report by Coin ATM Radar reveals that crypto ATMs first gained traction in the United States, with over a thousand machines recorded in 2017. Canada followed suit in 2021, surpassing the 1000 mark. Currently, the US boasts over 31,000 crypto ATMs, accounting for 82.8% of the worldโs Bitcoin ATMs. Similarly, Canada has around 2,918 crypto ATMs, representing approximately 7.8% of global crypto ATMs.
Surprisingly, Australia has quietly emerged as a significant player in the crypto ATM space. The sudden increase in the number of machines can be attributed to the growing popularity and adoption of cryptocurrencies in Australia. In fact, Australia now has more Bitcoin ATMs than countries like China, India, Japan, and Singapore. Experts predict that if this trend continues, Australia may even surpass Europe in terms of crypto activities.
Why the Resurgence in Crypto ATMs?
The recent resurgence in crypto ATMs comes after a period of decline. Coin ATM Radar notes that there was a decrease in new crypto ATMs between 2022 and 2023 due to bearish market conditions and concerns surrounding certain projects like FTX and Terra.
However, there has been a positive shift in market sentiment in recent months. The entire crypto market has seen a significant increase, with a valuation crossing the $3 trillion mark. Bitcoin, in particular, has reached new all-time highs. As the market regains momentum and confidence, it is likely that we will witness more crypto ATMs being installed worldwide.
Disclaimer
It is important to note that the information provided in this article is not financial advice. The content is intended for educational, entertainment, and informational purposes only. Any investment decisions should be made based on your own research and risk tolerance. We are not responsible for any losses incurred as a result of investments related to the information provided.
Hot Take: Australiaโs Rise in Crypto ATMs
Australia has emerged as a significant player in the global crypto ATM market, with around 1000 active machines across the country. This surge in crypto ATMs can be attributed to the growing popularity of cryptocurrencies in Australia and their increasing adoption by individuals and businesses.
The flexibility offered by these machines allows users to easily convert their fiat currency into cryptocurrencies in real-time. Furthermore, the ability to purchase cryptocurrencies using debit or credit cards makes them accessible to a wider range of individuals.
As Australia continues to embrace cryptocurrencies, it is expected that the number of crypto ATMs will continue to rise. This trend reflects the broader global adoption of cryptocurrencies and highlights Australiaโs position as a key player in the crypto space.
Sources:
โ Coin ATM Radar: https://www.altcoinbuzz.io/cryptocurrency-news/australia-records-massive-surge-in-bitcoin-atms/
โ Twitter: https://www.altcoinbuzz.io/cryptocurrency-news/australia-records-massive-surge-in-bitcoin-atms/
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