Australia is on a roll when it comes to Bitcoin ATMs, hitting a 29-month streak of consistent additions.
The country now boasts a total of 1,359 Bitcoin ATMs, which makes up about 3.5% of all crypto ATMs worldwide.
Resistance is futile?
For nearly two and a half years, Australia has been adding Bitcoin ATMs like they’re going out of style.
If we take a look at the numbers of Coin ATM Radar, the country is closing in on Europe’s total number of crypto machines, which currently stands at 1,660.
If Australia keeps this up, it could soon claim the title of having the third-largest Bitcoin ATM network in the world, right behind the U.S. and Canada.
Market share
Speaking of the U.S., it’s still the reigning champion in the Bitcoin ATM game, as there are 31,516 Bitcoin ATMs across the States, making up 81.3% of all Bitcoin ATMs globally.
Canada holds second place with 3,027 machines, which is about 7.8% of the market. Together, North America dominates with over 90% of all crypto ATMs worldwide, while Europe and Oceania each account for around 4%, and Asia lags behind at just 0.9%.
More ATMs, more scams?
But it’s not all sunshine and rainbows with these new machines popping up, because as the number of Bitcoin ATMs increases, so does the risk of scams.
The U.S. Federal Trade Commission issued a warning back in August about a surge in fraudsters exploiting these ATMs to con unsuspecting users. In 2023 alone, losses from Bitcoin ATM scams topped $110 million.
In response to this growing threat, lawmakers in the U.S. have reached out to major crypto ATM operators, urging them to take action against fraud, especially scams targeting older adults.
