Australia, the country that hosts the third largest network of Bitcoin ATMs, surpassed the continent of Asia in terms of the total number of crypto ATMs installed.
According to the Coin ATM Radar, Australia is still far behind the top two contenders with only 1.1% of Canada and the U.S., respectively holding dominance of 7.8% and 84.5%. At the time of writing, Australia has 364 crypto ATMs, while the Asia continent installed 355 crypto ATMs.
Since the beginning of 2023, Australia has been on a crypto ATM installation spree, climbing from fifth to third in January alone. Data from Coin ATM Radar confirms that the country has kept up the effort to install avenues for fiat-to-crypto conversions.
In contrast, Europe and the US have witnessed a decline in the number of crypto ATM installations over the past eight months, whereas Australia has been consistently adding more.
Despite being home to major economies like China, Japan, Singapore, and India, Asia only accounts for 1% of the global crypto ATM installations, with 355 crypto machines. Australia, on the other hand, has installed 364 crypto ATMs after several months of continuous additions.
The total BTC ATMs installed worldwide showed a consistent decline, according to data from CoinATMRadar, with only 33,905 active Bitcoin ATMs worldwide today, down from 36,687 that were running just last month.
Contradicting Australia's crypto ATM growth, the total crypto ATMs installed worldwide showed a consistent decline. In the first two months of 2023, the net cryptocurrency ATMs installed globally reduced by 412 machines.
The Australian government plans to release consultation papers in the second quarter of 2023. The moves seem plausible as the treasury had officially released a token mapping consultation paper formatting the basis of upcoming crypto regulations.
By Mahesh form the modern crypto world
