January 2, 2023

Australia Precedes El Salvador to Be 4th Largest Crypto ATMs Hub

Crypto ATMs

Crypto ATMs

El Salvador, which was ranked in third place globally for having the largest network of crypto ATMs, became sixth place after Australia and Poland in 2023.

Australia took over El Salvador to become the fourth-largest country having crypto ATMs, following the United States and Canada. Australia geared up its crypto ATM installations, as they reached 225 ATMs.

El Salvador’s President Nayib Bukele ordered installing more than 200 crypto ATMs across the country, a move which made the country third place globally after the US and Canada in September 2022. But in a short time, Spain overtook this position in October 2022 after installing 215 ATMs.

El Salvador’s position in third place was short-lived after Australia accelerated its plans to install more crypto ATMs over the past months, which record 225 at the time of writing, according to Coin ATM Radar website.

As a part of its keenness to enhance its crypto environment, the Australian Federal Police have recently established a crypto unit to monitor cryptocurrency-related transactions and target money laundering. Now, Australia represents about 0.6% of global crypto ATM installations.

While El Salvador represents about 54% of all crypto ATMs in South America. There are 38,602 crypto ATMs around the world, out of which 6,071 ATMs were installed in 2022 alone, Coin Telegraph reported. El Salvador surpasses European countries like Switzerland and the United Kingdom in the number of crypto ATMs. Currently, El Salvador uses both Bitcoin and the US dollar as legal tender.

Tags :
Author profile

Whether you want to learn about NFT, Blockchain, Web3.0, Metaverse, or any other emerging technologies, we have the vital resources that will enlighten and help you make an informed decision.