Australia Celebrates New Milestone with 1,000 Active Crypto ATMs, Ranks Third Globally
Summary:
Australia recently hit a milestone of 1,000 active Bitcoin and cryptocurrency ATMs, securing its spot as the third-largest hub after the United States and Canada. The surge in crypto ATM adoption since 2022 has even seen it surpass major Asian economies including China, Japan, Singapore, and India. The country looks set to top Europe in the near future. The news comes amidst reports of a part of El Salvador's Bitcoin ATM database being leaked by hackers, compromising the state-operated "Chivo" Bitcoin wallet's source code.
Australia has hit a new high of 1,000 Bitcoin and cryptocurrency ATMs operating in the country. This achievement, verified as of April 24, places Australia third on the global stage following the United States and Canada. With respect to the worldwide Bitcoin ATM network, Australia contributes 2.7%. Data from Coin ATM Radar suggests the US achieved the milestone of 1,000 cryptocurrency ATMs in November 2017, and Canada accomplished the same by January 2021. Present figures indicate that the US houses 82.8% of the world's Bitcoin ATMs with a count of 31,170, while Canada hosts 2,918, making up 7.8% of all crypto ATMs.
Historically, Australia has been relatively quiet in the crypto ATM sphere, but there's been significant growth since the latter part of 2022, driven by the involvement of private entities. As of April 2023, the number of Bitcoin ATMs in Australia has overtaken that of Asia, a massive region comprising influential economies like China, Japan, Singapore, and India. Projections suggest Australia may soon overtake Europe, which presently nests 4.3% of all functional Bitcoin ATMs with 1,617 machines.
Other regions with a considerable count of crypto machines include Spain (261), El Salvador (215), Poland (211), Germany (194), and Hong Kong (157).
Recently, Cointelegraph reported on a hacking scandal involving El Salvador's Bitcoin ATM database. It appears a part of El Salvador's state-operated "Chivo" Bitcoin wallet’s source code was leaked by hackers. The hacker group, CiberInteligenciaSV, disclosed this information on a public platform. VenariX, a local cybersecurity initiative, publicized the impending leak on April 22 and pointed to the Telegram channel of CiberInteligenciaSV, that had stated its intentions to release the source code.
Published At
4/24/2024 12:18:02 PM
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