Crypto ATMs have been continuously rising, and recently the rise in the number of machines in Australia has surpassed the total count of El Salvador. In addition, Crypto automated teller machines (ATMs) have gained popularity worldwide in line with cryptocurrency’s growing adoption rate. A cryptocurrency ATM resembles a traditional ATM and is often used for trading bitcoin or withdrawing money.
The number of ATMs suggests the growing friendliness and progress toward crypto. Recent data reveals that the total ATM installations in Australia have reached 219, which is more when compared to El Salvador, the first nation to make Bitcoin a legal tender.
In pursuit of efficiently establishing Bitcoin as a legal tender, President Nayib Bukele decided to install over 200 crypto ATMs nationwide. This move had made the country top the list of ATMs then; however, with eventual developments, it has slid down to the fifth place. The top four countries are the United States, Canada, Spain, and Australia.
The US and Canada claimed their first and second places in 2021, whereas Spain and Australia recently pushed El Salvador down. Todayq News reported in October that Spain had a total of 215 ATMs, and with the continued installations, the count of ATMs stands at 226 as of writing.
Hence, El Salvador’s fourth position was very short-lived, with Australia claiming the position within a short period. In the last three months, Australia deployed 99 ATMs to reach its total count of 219, leaving the central American nation behind by 7 ATMs.
As per sources, Australia represents 0.6% of the global crypto ATM installation, and with its current pace, it can very soon take over the total count of Asia, which stands at 312 ATMs. The total crypto ATM count is 38,602, out of which 6,071 ATMs were installed in 2022 alone.
Sources reveal that the continued surge in ATMs will facilitate the adoption of digital assets. Data suggest that the market size is projected to record a growth of 61.7% between 2022 and 2030, yielding a valuation of $5.45 billion.
The projected growth of the crypto ATM market size is also expected to boost crypto usage for retail payments and enable users to convert cryptocurrency into fiat currency simultaneously. In addition, researchers also suggest that the increasing number will be facilitated by several businesses, including restaurants and commercial spaces, installing crypto ATMs to lure extra revenues, thus further fueling the market’s growth.