Australia Overtakes El Salvador as Fourth Largest Crypto ATM Hub

• Australia has become the fourth-largest crypto ATM hub, overtaking El Salvador.
• Australia achieved this milestone after installing 99 crypto ATMs across the country in the last quarter of 2022.
• As of this publication, Australia has 216 active crypto ATMs while El Salvador has 200.

Cryptocurrency ATMs are on the rise, with Australia recently overtaking El Salvador as the fourth-largest crypto ATM hub in the world. This milestone was achieved after Australia installed 99 crypto ATMs across the country in the last quarter of 2022, bringing their total number of active crypto ATMs to 216. El Salvador, which previously held the fourth-place spot, now has 200 crypto ATMs and is now behind Australia once again.

The shift comes after El Salvador’s push for the mass adoption of crypto. In June 2021, the country became the first in the world to accept Bitcoin as a legal tender. This announcement was followed by a significant increase in the number of crypto ATMs in the country, with more than 200 being installed by September 2021.

Despite the setback, El Salvador has made considerable advancements in promoting crypto-centric payment methods. The Nayib Bukele-led administration has been working to make the transition to digital assets easier and more accessible for its citizens.

Meanwhile, Australia is on track to reach its goal of having 3,000 ATMs in operation by 2027. The current number of ATMs installed in the country accounts for 0.6% of the total ATMs installed worldwide.

As the use of cryptocurrency continues to grow, more countries are likely to follow in El Salvador’s and Australia’s footsteps. This could potentially lead to even more crypto ATMs being installed around the world, providing more opportunities for people to access digital assets.