Australia ranks 3rd in crypto ATM installations after US and Canada

January 25, 2023 Coin Telegraph

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Australia now enjoys 234 crypto ATMs, which puts her in the third spot globally after the United States and Canada.

Despite the bear market and the record-low dynamics of new Bitcoin ATM installations around the world, Australia breaks into the top three nations globally by the number of crypto ATMs. It was only in the first days of January when the Aussies got to the fourth spot — since that time they installed 16 more machines.

According to Coinatmradar’s data, Australia now enjoys 234 crypto ATMs, which puts her in the third spot globally after the United States and Canada. In three weeks it outperformed Spain, which possesses 222 crypto ATMs.

It’s all about dynamics — Australia deployed 99 crypto ATMs, which is almost half of its total number, in only the last three months of 2022. And it doesn’t slow down. Since Jan.1, Australia has installed 16 new machines, while Spain has actually lost 4 and El Salvador, which holds the fifth global spot, hasn’t recorded a single new ATM.

*Crypto ATM distribution by continents and countries. Source: CoinATMRadar*

Overall, Australia’s numbers, as well as Spain’s and El Salvador’s, could hardly match the enormous proportion of crypto ATMs in the U.S. The States are home to 33.387 or 86.9% of all the machines in the world. Together with Canada (2.556) at the time of writing, they hold a stunning 94.4% of all the crypto ATMs.

A year-long bear market in 2022, accompanied by geopolitical tensions and global inflation, resulted in a dramatic slowing down of the crypto ATMs installations. Only 94 Bitcoin ATMs were added between July to the end of 2022 to the global network in contrast to 4,169 ATMs during the first half of 2022.

In January 2023, the Australian city of Coolangatta got its first Bitcoin ATM with integrated Lightning Network capabilities. It works similarly to traditional crypto ATMs but saves significant time due to the layer-2 Lightning solution. And also allows for purchasing very small amounts of BTC.

Less than 100 Bitcoin ATMs added worldwide in the second half of 2022: Data

January 9, 2023 Coin Telegraph

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Over the last six months, between July to the end of 2022, just 94 Bitcoin ATMs were added to the global network.

While Bitcoin (BTC) ATMs were an afterthought to Satoshi Nakamoto’s vision of sound money, they are now considered one of the main pillars of Bitcoin’s mainstream adoption. However, the global Bitcoin ATM network, which used to add thousands of machines each month in 2021, recorded a net addition of just 94 Bitcoin ATMs over the past six months since July 2022.

A year-long bear market in 2022 — accompanied by geopolitical tensions and global inflation — hindered various initiatives aiding the growth of the entire crypto ecosystem. As a result, efforts to install new Bitcoin ATMs dipped in many countries that once spearheaded the initiative.

*Chart showing the number of bitcoin machines installed over time. Source: CoinATMRadar*

Over the last six months, between July to the end of 2022, just 94 Bitcoin ATMs were added to the global network. In contrast, a modest 4,169 ATMs were added during the year’s first six months, confirms data from CoinATMRadar.

Despite the global slowdown, countries such as Spain and Australia have taken the lead in crypto ATM installations. The United States and Canada retain the top two positions for hosting the highest number of ATMs. El Salvador, the country that once held the third position, has now moved down to the fifth position after Spain and Australia, respectively.

*Number of cryptocurrency machines installed over time per each top manufacturer over time. Source: CoinATMRadar*

During this timeframe, Bitcoin ATM manufacturer BitAccess saw a relative drop in its ATM installation while others reported a comparatively steady increase.

As crypto investors shake off the negative sentiments from the past year and dive back into the game, sub-ecosystems like Bitcoin ATMs remain well-positioned for a recovery.

Australia, just after overtaking El Salvador to become the fourth-largest crypto ATM hub, got its first Bitcoin ATM with integrated Lightning Network (LN) capabilities.

Using LN, Bitcoin ATMs can process transactions immediately without having the operator batch the funds. As Cointelegraph previously reported, this development can potentially lower transaction fees compared to an on-chain payment.

Australia overtakes El Salvador to become 4th largest crypto ATM hub

January 1, 2023 Coin Telegraph

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El Salvador’s position as the fourth-largest crypto ATM hub was short-lived as Australia stepped up its game over the following months.

El Salvador, the first country to legalize Bitcoin (BTC), has been pushed down yet another spot in total crypto ATM installations as Australia records 216 ATMs stepping into the year 2023.

As part of El Salvador’s drive to establish Bitcoin as a legal tender, President Nayib Bukele had decided to install over 200 crypto ATMs across the country. While this move made El Salvador the third largest crypto ATM hub at the time after the United States and Canada in September 2021, Spain and Australia overtook the Central American country’s ATM count in 2022.

On October 2022, Cointelegraph reported that Spain became the third-largest crypto ATM hub after installing 215 crypto ATMs. However, Spain continued its installation drive and is home to 226 crypto ATMs at the time of writing. El Salvador’s position as the fourth-largest crypto ATM hub was short-lived as Australia stepped up its game over the following months.

In the last three months of 2022, Australia deployed 99 crypto ATMs, confirms data from CoinATMRadar. As of Jan. 1, 2023, Australia recorded 219 active crypto ATMs, overshadowing El Salvador by 7 ATMs at the time of writing.

Australia represents 0.6% of global crypto ATM installations and, at this rate, is well-positioned to take over Asia’s crypto ATM numbers, which stand at 312 ATMs. The total number of crypto ATMs worldwide is 38,602, out of which 6,071 ATMs were installed in 2022 alone.

Nigeria’s drive to impose the adoption of an in-house central bank digital currency (CBDC) — eNaira — forced the government to limit ATM cash withdrawals to $225 (100,000 nairas) a week.

“Customers should be encouraged to use alternative channels (Internet banking, mobile banking apps, USSD, cards/POS, eNaira, etc.) to conduct their banking transactions,” noted Haruna Mustafa, the director of banking supervision, while announcing the drive.

Crypto ATM Count Increases by More Than 4,000 in 2022 Amid Ongoing Digital Asset Bear Market

December 31, 2022 The Daily Hodl

Spain overtakes El Salvador to become third largest crypto ATM hub

October 22, 2022 Coin Telegraph

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Spain currently hosts 215 crypto ATMs, pushing El Salvador — home to 212 crypto ATMs — down to the fourth position after surpassing the country by 3 crypto ATMs.

The European country of Spain is officially home to the third-largest network of Bitcoin (BTC) and cryptocurrency ATMs after the United States and Canada.

Spain currently hosts 215 crypto ATMs, pushing El Salvador — wi 212 crypto ATMs — down to the fourth position after surpassing the country by 3 crypto ATMs. Data from CoinATMRadar confirms that Spain represents 0.6% of the global crypto ATM installations.

Moreover, the revelation places Spain as the highest contributor to crypto ATMs in Europe, which represents 14.65% of total installations in the continent, followed by Switzerland (144 ATMs), Poland (142 ATMs) and Romania (135 ATMs).

*Crypto ATM installation growth in Spain. Source: CoinATMRadar*

In 2022 alone, Spain installed 43 crypto ATMs and has previously shared its intent to install a total of over 100 ATMs by the end of the year — taking up the total to nearly 300 crypto ATMs once completed.

MediaMarkt, a German electronics retailer, and Confinity, among others, are leading the drive to install crypto ATMs across Austria, Germany, Spain and Greece.

On the contrary, global crypto ATM installations saw a negative growth since September 2022 and are on the path of slow recovery at the time of writing. Calculations based on data from the last 60 days show that around seven crypto ATMs are being installed daily worldwide.

Greece takes the sixth spot in terms of cryptocurrency ATMs, and with the influx of tourists, Bitcoin ATM operator BCash shared insights on the usage statistics in the country.

Speaking to Cointelegraph, BCash managing director and co-founder, Dimitrios Tsangalidis, revealed that despite installing crypto ATMs in tourist hotspots, most usage comes from the main city area.

However, the island of Crete attracts a "very loyal cryptocurrency crowd,” as explained by Tsangalidis:

“There is a strong crypto community in Heraklion of Crete [which is] the location of one of our ATMs."

According to Tsangalidis, a combination of crypto winter and tourist seasons has resulted in a slowdown in terms of regular traffic in crypto ATM usage.

Net Bitcoin ATMs growth drops globally for the first time ever

October 1, 2022 Coin Telegraph

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Data on net changes of crypto ATM installations confirm that, in September, 796 crypto ATMs were pulled off from the global network.

The domino effect of a prolonged bear market seeped into the Bitcoin (BTC) ATM ecosystem as September 2022 recorded negative growth in global net installations for the first time in history — primarily driven by a slowdown in the United States.

The total number of Bitcoin ATMs installed over time fell to 37,980 in Sept. from an all-time high of 38,776 ATMs in August — resulting in a drop of -2.05%, as evidenced by data from CoinATMRadar.

*The number of Bitcoin machines installed over time. Source: CoinATMRadar*

Data on net changes of crypto ATM installations confirm that, in September, 796 crypto ATMs were pulled off from the global network. The United States alone recorded a reduction of 825 ATMs. However, Europe, Canada and a few other jurisdictions cushioned the downfall with new installations locally.

*The net change of cryptocurrency machines number installed and removed monthly. Source: CoinATMRadar*

Despite the setback, data based on 60 days suggest that nearly 14 crypto ATMs are being installed globally per day, with Genesis Coin representing a 40.3% share of ATMs among other manufacturers. Other popular crypto ATM manufacturers include General Bytes and BitAccess.

The sudden reduction in the crypto ATM installations can be attributed to geopolitical tensions among factors, including lack of regulatory clarity and market uncertainties.

Although crypto ATM installations have taken a temporary hit due to external factors, countries continue to show interest in having functional crypto ATMs within their borders.

Most recently, Japan decided to reintroduce crypto ATMs after 2014, spearheaded by local crypto exchange Gaia Co. Initially, new ATMs will be installed across Tokyo and Osaka. The firm plans to set up 50 BTMs across the country by August 2023.

As Cointelegraph reported, Gaia became the first locally-registered crypto company to have installed crypto ATMs in Japan.

US dominates crypto ATMs installations and BTC hash rate worldwide

July 10, 2022 Coin Telegraph

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With China out of the competition, the US picked up the slack to become the highest BTC hash rate contributor — representing 37.84% of the total mining power by Jan 2022.

Despite the myriads of state and federal regulatory hurdles faced by crypto businesses in the region, the United States plays a major role in preserving the Bitcoin (BTC) and crypto ecosystem. With China moving out of the picture following a permaban on crypto, the United States maintains the top position in terms of hash rate contribution and ATM installations worldwide.

Prior to cracking down on BTC mining, China historically represented over 50% of the total hash rate up until Feb 2021. With China out of the competition, the US picked up the slack to become the highest BTC hash rate contributor — representing 37.84% of the total mining power by Jan 2022.

Distribution of Bitcoin mining hash rate from September 2019 to January 2022, by country. Source: Statista

As shown above, Chinese miners resumed operations in September 2021. However, the miners in the US continued to dominate the space while increasing their hash rate contribution month-over-month.

In addition, the US is home to the highest number of ATM installations, representing nearly 88% of the total crypto ATM installations worldwide. Over 90% of the overall crypto ATMs installed over the past several months are in the United States. Data from Coin ATM Radar confirms that the trend continues to July as the US saw the installation of 641 out of the 710 Bitcoin and crypto ATMs installed in the first 10 days of the month.

Further strengthening North America’s position in the crypto ecosystem, Canada represents the second-largest network of crypto ATMs after the United States. Outside of the Americas, Spain houses the highest number of crypto ATMs, 210 or 0.5% of the total active ATMs.

The confluence of a global chip shortage and the coronavirus pandemic momentarily shot up prices of the most important part of a mining rig — the graphics processing unit (GPU). However, with prices falling down below MSRPs and a hash rate that compliments the fall, miners found themselves a window of opportunity to procure their dream mining equipment.

*GPU price trend over the past one year. Source: TechSpot*

In May alone, GPU prices dropped over 15% on average, additionally forcing sellers on the secondary markets to bring down their exorbitant prices on used mining rigs.

Bitcoin ecosystem makes a U-turn recovery in global ATM installations

June 11, 2022 Coin Telegraph

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Halfway through 2022, the BTC ATM installation numbers dropped 89.75% by May, followed by a swift recovery in June.

Bitcoin (BTC) ATM installations have marked a new comeback as June 2022 saw the reversal of the five-month-long downward trajectory for the first time this year.

The global ATM installations worldwide fell consistently throughout the year, with May reporting the lowest number of 205 ATM installations. However, June saw the installation of over 882 ATM installations in just the first ten days.

Chart showing the net change of cryptocurrency machines number installed and removed monthly. Source: Coin ATM Radar

As evidenced by the above graph, May 2022’s drop reached a range that was last seen three years ago in 2019. Over the last two years, in 2020 and 2021, Bitcoin ATM installations grew consistently owing to friendlier regulatory landscapes amid a rewarding market when numerous cryptocurrencies attained their all-time highs momentarily.

In addition, the use of Bitcoin as legal tender in El Salvador contributed to the spike in crypto ATM installations in the last year. China imposing a blanket on crypto trading and mining, too, contributed to the temporary slowdown in the global ATM installation numbers. Surprisingly, despite the regulatory hurdles, China came out as the 2nd top Bitcoin mining hub despite the crypto ban.

Crypto ATM installations peaked in 2021, with December witnessing 1971 ATMs installed in a month. However, up until June 2022, the numbers dropped 89.75% by May, which was followed by a swift recovery in the following month.

According to Coin ATM Radar’s gauge scale, which is based on the data collected over the last two months, nearly 23 crypto ATMs are being installed per day on an average globally.

A chart showing the speed of crypto machines installed over time. Source: Coin ATM Radar

Data also confirms that there are currently 38,000 operational ATMs installed across the world at the time of writing. Crypto ATMs serve a crucial purpose for the Bitcoin and crypto economy, allowing users and investors to exchange their fiat currencies against Bitcoin and vice versa.

Out of the lot, the United States represents 87.9% of the total crypto ATM network, i.e., 33,403 ATMs. Prominent manufacturers that lead this space in terms of market share are Genesis Coin (40.9%), General Bytes (21.6%), BitAccess (16.1%), Coinsource (5.4%), and Bitstop (4.8%).

While ATM transactions do not contribute to the overall liquidity of the Bitcoin network, it helps investors procure crypto assets against fiat currencies. As a result, having local crypto ATMs drive the adoption of cryptocurrencies into the mainstream.

Along similar lines, El Salvador, after accepting Bitcoin as legal tender, witnessed a spike in tourism. According to reports, El Salvador’s tourism has grown by 30% since the Bitcoin Law was implemented.

In a recent discussion with Cointelegraph, Dania Gonzalez, Deputy of the Republic of El Salvador, recently revealed the country’s plan to buy more Bitcoin amid falling prices.

"What Nayib Bukele did was buy Bitcoins and make a profit at a certain strategic moment,” Gonzalez said.

Gonzalez also indicated that El Salvador President Nayib Bukele’s strategy has already proven to be successful in terms of socioeconomic impact by citing two ventures — a veterinary hospital and a public school — that were made possible thanks to calculated BTC investments.

Bitcoin ATM installations record low in May, biggest drop since 2019

June 5, 2022 Coin Telegraph

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Over the past five months since January, Bitcoin ATM installations saw a gradual slowdown, eventually falling 89.75% from December 2021’s 1971 new installations.

Bitcoin (BTC) ATM installations across the globe have seen a steep decline throughout the year 2022, with May recording just 202 new BTC ATMs, a range last seen three ago in 2019.

Over the past five months since January, Bitcoin ATM installations saw a gradual slowdown, eventually falling down 89.75% from December 2021’s 1971 new installations. However, data from Coin ATM Radar reveal an evident comeback in the installation numbers as the world saw 817 Bitcoin ATMs getting installed in June — in just the first five days.

Net change of cryptocurrency machines number installed and removed monthly. Source: Coin ATM Radar

Some of the key factors contributing to the slowdown of crypto ATM installations include geopolitical tensions across the world, unclear or anti-crypto regulations, market saturation and business impact due to the ongoing coronavirus pandemic.

Coin ATM Radar’s data confirms that the United States is home to 87.9% of the total 37,826 crypto ATMs worldwide. Europe, as a continent, houses a network of 1,419 ATMs — representing 3.8% of the global ATM installations.

Number of cryptocurrency machines installed by manufacturer over time. Source: Coin ATM Radar

Crypto ATM manufacturer Genesis Coin maintains its position as the leader in terms of the market share, representing 41% of the total operational crypto ATMs across the globe. Other manufacturers with prominent market share include General Bytes (21.6%), BitAccess (16%), Coinsource (5.4%) and Bitstop (4.7%).

While real-world challenges may have a momentary impact on Bitcoin’s physical expansion via ATMs, at its core, the Bitcoin network continues to outperform its previous records in securing, decentralizing and speeding up the impenetrable peer-to-peer (P2P) network.

*Cumulative Bitcoin capacity across all channels. Source: BitcoinVisuals node*

As Cointelegraph reported based on data from Bitcoin Visuals, the Bitcoin Lightning Network (LN) capacity attained an all-time high of 3915.776 BTC — further improving BTC transaction speeds and reducing fees over the layer-2 protocol. The Bitcoin LN was first implemented into the Bitcoin mainnet in 2018 to address Bitcoin’s infamous scalability issues.

Bitcoin ATM installation slowdown continues for 4th month in 2022

May 2, 2022 Coin Telegraph

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The evident reduction in the installations of crypto ATMs could result from the regulators' hesitance to adopt the Bitcoin ecosystem.

April 2022 marked the fourth consecutive month of a slowdown in the installation of Bitcoin (BTC) ATMs, ever since the slowdown began at the start of the year.

BTC ATMs serve a crucial purpose for the Bitcoin economy, helping users physically retrieve or deposit BTC holdings against the corresponding cash reserves.

Based on the data provided by Coin ATM Radar, the year 2021 saw the highest global increase in the BTC ATM installations, with August witnessing its peak of 2,037 ATMs net change. Starting in January 2022, the crypto ATM net change fell down to 1,687 from December’s high of 1,969 ATMs.

Ever since, the net change in crypto ATM has maintained a downward trajectory, recording three-digit changes across the following months in February (970), March (757) and April (739).

Last year’s explosive growth in crypto ATMs was a direct result of jurisdictions like El Salvador embracing Bitcoin as legal tender, which currently hosts the third-largest network of BTC ATMs after the United States and Canada.

To highlight the highly untapped market for crypto ATMs, El Salvador hosts 205 Chivo-branded ATM machine, which amounts to 70% of all crypto ATMs in South America.

*Number of bitcoin machines installed over time. Source: Coin ATM Radar*

However, as previously pointed out by Cointelegraph, the evident reduction in the installations of crypto ATMs could be a result of the slowdown in newer jurisdictions willing to accept and adopt the Bitcoin ecosystem.

Genesis Coin maintains its long-standing dominance in the crypto ATM market, representing a 41.5% market share. Other prominent crypto ATM manufacturers include General Bytes (21.6%), BitAccess (15.2%) and Coinsource (5.3%).

On April 26, Mexico's Senate building installed its 14th BTC ATM, showcasing the country’s increasing interest in the crypto ecosystem.

Por la libertad, inclusión y educación financiera en México.#ToTheMoon @senadomexicano pic.twitter.com/QytQn58A3i
— Indira Kempis de I. (@IndiraKempis) April 26, 2022

Mexican senator Indira Kempis, who has recently proposed the legalization of Bitcoin, announced the launch of the new BTC ATM in Senate building while stating:

“For freedom, inclusion and financial education in Mexico.”

CoinATMRadar

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