Australia surpasses El Salvador to emerge as the fourth-largest cryptocurrency ATMs center
As 2023 approaches, Australia has deployed 219 cryptocurrency ATMs. El Salvador, the first nation to legalize Bitcoin (BTC), has fallen down into another position in the list of countries with the most crypto ATMs installed after Australia reported 216 ATMs in 2023.
President Nayib Bukele made the decision to place more than 200 cryptocurrency ATMs all around El Salvador as part of a drive to make bitcoin legal tender. While that move ranked El Salvador behind the United States and Canada as the third-largest crypto ATM center in September 2021, Spain and Australia had been expected to surpass El Salvador’s number of ATMs in 2022.
Spain has deployed 215 crypto ATMs, as per Cointelegraph, which makes it the third-biggest center for crypto ATMs. However, Spain continued its installation campaign and, at the time of this writing, has 226 crypto ATMs. El Salvador’s rank as the fourth-largest center for crypto ATMs was brief because Australia increased the installation of the number of crypto ATM hubs during the following months.
As per CoinATMRadar data, Australia had installed 99 cryptocurrency ATMs in the ending three months of 2022. Australia held 219 active crypto ATMs as of January 1, 2023, outnumbering El Salvador by 7 ATMs as of this writing.
At this rate, Asia’s 312 crypto ATMs might be surpassed by Australia’s 0.6% of worldwide crypto ATM installations. There are presently 38,602 functioning crypto ATMs all around the globe, 6,071 of which were set up in 2022. Data indicates that since 2018, the number has grown dramatically and continuously. Despite the current “crypto winter” and impending political penalties that may have an influence on the crypto sector in the wake of the FTX fiasco, 2022 saw the largest figures.
Also, recently, the government of Nigeria is compelled to cap ATM cash withdrawals to $225 (100,000 nairas) every week as a result of the country’s efforts to impose the adoption of its own central bank virtual currency (CBDC), referred to as eNaira.