Australia’s Bitcoin ATM Growth Achieves a Record 29-Month Streak
Australia has reached a remarkable milestone with its Bitcoin automated teller machine (ATM) expansion, sustaining a 29-month streak of monthly net additions. With 1,359 Bitcoin ATMs now operational, Australia accounts for approximately 3.5% of the global crypto ATM market.
Steady Growth Positions Australia as a Global Leader
Data from Coin ATM Radar reveals that Australia has consistently added Bitcoin ATMs for over two years, a feat that positions the country as the third-largest market for Bitcoin ATMs globally. The nation’s 1,359 ATMs are edging closer to Europe’s 1,660 machines, potentially placing Australia ahead in the near future. If surpassed, Australia would solidify its place as the third-largest Bitcoin ATM network, trailing only the United States and Canada.
United States Dominates the Market
Despite a challenging regulatory climate, the United States leads the global Bitcoin ATM market, hosting a staggering 31,516 machines as of December 29. This represents 81.3% of all Bitcoin ATMs worldwide. Canada follows with 3,027 ATMs, accounting for 7.8% of the global market. Together, the North American region controls over 90% of all Bitcoin ATMs. In contrast, Europe and Oceania each represent about 4% of the market, while Asia accounts for just 0.9%.
Globally, the total number of Bitcoin ATMs stands at 38,753, underscoring North America’s dominance in this sector.
Challenges: Bitcoin ATMs and Scams
The increasing availability of Bitcoin ATMs has unfortunately coincided with a rise in fraudulent activities. The United States Federal Trade Commission (FTC) reported a surge in scams leveraging Bitcoin ATMs, with losses exceeding $110 million in 2023. These scams exploit the anonymity and speed of crypto transactions, targeting vulnerable users.
In response, U.S. lawmakers have urged top crypto ATM operators to implement measures to mitigate fraud, particularly scams targeting elderly users.
Looking Ahead
As Australia’s Bitcoin ATM network continues its rapid growth, the nation’s proximity to overtaking Europe in total ATMs marks a significant achievement in its crypto adoption journey. However, addressing security concerns and preventing misuse will remain critical as global crypto ATM installations expand.
