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Australia Rivals Europe’s Adoption with 1,359 Bitcoin ATMs
Australia has set a new record by adding Bitcoin (BTC) ATMs for the 29th consecutive month. According to data from Coin ATM Radar, a crypto ATM location search platform, Australia has 1,359 Bitcoin ATMs, or around 3.5% of all crypto ATMs worldwide.
This figure places Australia in third place globally in the number of Bitcoin ATMs, behind only the United States and Canada. Interestingly, the number of Bitcoin ATMs in Australia is almost the same as the total in Europe, which is 1,660 units.
If this trend continues, Australia has the potential to become the region with the third largest Bitcoin ATM network in the world. The United States remains the market leader with 31,516 Bitcoin ATMs, which is equivalent to 81.3% of the total global crypto ATMs.
Meanwhile, Canada is in second place with 3,027 units, or around 7.8% of the total.
On the other hand, even though the number of Bitcoin ATMs is increasing, the risk of crime is also increasing. The Federal Trade Commission (FTC), a US trade commission, reported that losses due to fraud involving Bitcoin ATMs exceeded US$110 million in 2023.
The FTC itself has warned that criminals often take advantage of the anonymity and speed of crypto transactions to defraud users, especially vulnerable groups such as the elderly.
-# Image Source: IT Brief Australia