Australia: 29-Month Growth of Bitcoin ATMs

user avatar

by Giorgi Kostiuk

2 years ago

Australia is witnessing a significant rise in the number of installed Bitcoin ATMs, reflecting global trends in cryptocurrency adoption.

Growth of Bitcoin ATMs in Australia

Data from Coin ATM Radar shows that for the past 29 months, Australia has consistently increased its count of Bitcoin ATMs. Currently, the country has 1,359 machines, making up 3.5% of the global tally. Australia ranks third after the United States and Canada in Bitcoin ATM numbers.

Global Distribution of Bitcoin ATMs

The United States remains the leading market for Bitcoin ATMs despite a challenging regulatory environment. The country hosts 31,516 Bitcoin ATMs, accounting for 81.3% of the world's total. Canada follows with 3,027 machines. North America has over 90% of all Bitcoin ATMs globally, while Europe and Oceania have about 4% each, and Asia has only 0.9%.

Rise of Bitcoin ATM Fraud

The increase in Bitcoin ATMs has led to more cases of fraud. The US Federal Trade Commission reported a rise in scammers using Bitcoin ATMs due to the anonymity and speed of crypto transactions. Losses from such scams exceeded $110 million in 2023. Legislators have called on ATM operators to step up anti-fraud measures.

The growth in Bitcoin ATMs highlights the increasing interest in cryptocurrencies, but also poses higher fraud risks, calling for attention from regulators.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Payward to Acquire Saldo Bank for European Banking Expansion

Payward, the parent company of Kraken, plans to acquire Lithuania-based Saldo Bank to enhance its banking capabilities and integrate banking products with crypto services.

user avatarMaria Fernandez

Germany's Sparkassen Group Begins Cryptocurrency Trading Rollout

Germany's Sparkassen savings bank group is starting a phased rollout of cryptocurrency trading within its existing banking app, beginning on October 19, 2023.

user avatarGustavo Mendoza

CME Group to Launch Bitcoin Cash and Uniswap Futures on October 19

CME Group has scheduled the introduction of Bitcoin Cash and Uniswap futures for October 19, providing institutional traders with more cryptocurrency markets.

user avatarRajesh Kumar

Ethereum's Glamsterdam Upgrade Scheduled for Hoodi Test Network

Ethereum's next major upgrade, Glamsterdam, is set to activate on the Hoodi test network on October 26, marking a significant step in testing changes to block production and execution costs.

user avatarMiguel Rodriguez

International Crackdown on West African Scam Networks Results in 28 Arrests

An international effort against West African scam networks has led to 28 arrests and the removal of over 37 million accounts linked to fraudulent activity.

user avatarLuis Flores

Stablecoin Payment Transactions Surge Despite Flat Supply

A new report reveals a significant increase in stablecoin payment transactions, contrasting with stagnant supply levels.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.