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Friday, February 3, 2023

Australia Becomes The 4th Largest Crypto ATM Hub

In terms of the overall number of crypto ATM installations, El Salvador, the first country to legalize Bitcoin, has fallen another spot as Australia reports 216 ATMs as 2023 draws near, according to Cointelegraph. President Nayib Bukele decided to place more than 200 cryptocurrency ATMs all across El Salvador as part of the country’s effort to make Bitcoin legal cash. El Salvador was at the time, in September 2021, the third-largest hub for crypto ATMs after the United States and Canada, but in 2022, Spain and Australia passed El Salvador in terms of the number of ATMs.

Australia Overtakes El Salvador 

Spain installed 215 crypto ATMs, according to Cointelegraph, making it the third-largest center for crypto ATMs.

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However, Spain kept up its installation campaign and, as of this writing, has 226 crypto ATMs. El Salvador’s reign as the fourth-largest center for crypto ATMs was brief because Australia improved during the ensuing months.

To make Bitcoin a legal tender, El Salvador’s President Nayib Bukele decided to install more than 200 bitcoin ATMs across the country, according to Cointelegraph. After the United States and Canada, El Salvador was the third-largest hub for cryptocurrency ATMs at the time, in September 2021. However, in terms of ATM density, Spain and Australia overtook El Salvador in 2022.

Spain became the third-largest hub for crypto ATMs after installing 215 of them, according to Cointelegraph. However, Spain continued its installation campaign and has 226 cryptocurrency ATMs as of this writing. The fourth-largest hub for crypto ATMs, El Salvador, only held that position for a short time as Australia developed during the following months.

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Due to Nigeria’s efforts to force the use of its own central bank digital currency (CBDC), known as eNaira, the country was forced to limit ATM cash withdrawals to $225 (100,000 naira) every week.

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