According to recent data from Coin ATM Radar, Australia has surpassed the Asian continent in terms of total crypto ATM installations, solidifying its position as the third largest ATM network globally.
This achievement comes after Australia’s active efforts to install new crypto ATMs since the beginning of 2023, which has resulted in the country’s rise from fifth to third place in terms of the number of devices.
The data confirms that Australia has been continuously pushing for more fiat-to-cryptocurrency conversion options, with a current total of 364 cryptomats now available in the country.
In contrast, leading European countries and the US have experienced a decline in the number of ATMs over the past eight months.
Interestingly, Asia, which includes major economies like China, Japan, Singapore, and India, only accounts for 1% of the total number of ATMs installed worldwide, with a current count of 355 ATMs.
This is a stark contrast to Australia’s consistent efforts in installing new ATMs.
However, despite the increase in crypto ATM installations in Australia, Coin ATM Radar data showed that the total number of crypto ATMs worldwide has actually decreased in 2023.
More than 3,600 ATMs were disabled in March alone, and 5,500 devices stopped working during the first three months of the year. As of now, there are 33,727 cryptomats worldwide.
Although the mass adoption of cryptocurrencies is gradually increasing, experts predict that the number of new crypto ATM installations this year will be lower than in the past, likely due to the prolonged market crisis.
Nonetheless, the increasing number of crypto ATMs in Australia signals a positive trend towards wider adoption of cryptocurrencies in the country.