Australia has reached a significant milestone in its cryptocurrency journey, with 29 straight months of growth in Bitcoin ATM installations. With 1,359 Bitcoin ATMs currently operational, the country accounts for around 3.5% of the world’s crypto ATMs. Australia now has the world’s third-largest Bitcoin ATM network, trailing only the United States and Canada.
Australia’s steady expansions have brought it closer to Europe’s 1,660 ATMs. If the current trend continues, Australia could soon surpass Europe as the global leader in Bitcoin accessibility outside of North America.
North America dominates the global Bitcoin ATM business, accounting for more than 90% of all machines. The United States alone has 31,516 ATMs, or 81.3% of the global total. Canada follows with 3,027 ATMs, accounting for 7.8%. In comparison, Europe and Oceania each account for around 4%, with Asia trailing at 0.9%. There are currently 38,753 Bitcoin ATMs around the world.
However, this rapid expansion has raised concerns, such as an increase in fraud using Bitcoin ATMs. In the United States, scammers have increasingly taken advantage of the anonymity and speed of these machines, resulting in losses exceeding $110 million by 2023. Lawmakers have asked operators to take steps to combat fraud, particularly those that target vulnerable groups such as the elderly.
Despite these hurdles, Australia’s continued growth of its Bitcoin ATM network demonstrates the country’s dedication to promoting bitcoin usage. With consistent growth and the potential to outperform Europe, Australia is establishing itself as a vital player in the global crypto ecosystem.
