Australia Surpasses El Salvador in Total Number of Crypto ATM Installations
Data from CoinATMRadar revealed that Australia installed 99 crypto ATMs in the last three months of 2022.
As the first country to make Bitcoin (BTC) legal tender, El Salvador also has one of the highest numbers of crypto ATM installations in the world. However, El Salvador recently lost its position as the fourth largest crypto ATM center to Australia, which saw a significant increase in installations in recent months.
President Nayib Bukele decided to install more than 200 crypto ATMs in El Salvador as part of the country’s campaign to establish Bitcoin as legal tender. The move also made it the third-largest crypto ATM hub as of September 2021 after the United States and Canada, according to Cointelegraph.
However, El Salvador could not retain its third place for long. Spain has been relentless in its installation campaign and, with a total of 215 crypto ATMs as of October 2022, it ranked third and pushed El Salvador into fourth place. Spain currently has 226 crypto ATMs, as it continued its installation drive in the last three months of 2022.
However, El Salvador’s position as the fourth largest crypto ATM center did not last long either. This time, it was Australia that overtook the Central American country in terms of the number of installed crypto ATMs.
Data from CoinATMRadar revealed that Australia installed 99 crypto ATMs in the last three months of 2022. With recent additions, the country now has a total of 219 active crypto ATMs as of January 1, 2023, seven more than El’s 212. Savior. ATMs
Australia accounts for 0.6 percent of the total worldwide crypto ATMs of 38,602 machines. For its part, total installations in 2022 reached 6,071 ATMs.
The growing number of crypto ATM deployments means that now more people can easily convert their crypto into the local currency, Nigeria will have to put up with the recent limit on ATM cash withdrawals. In its bid to force the adoption of the CBDC known as eNaira, the government decided to limit weekly ATM cash withdrawals to just $225 (100,000 Naira).
“Customers should be encouraged to use alternative channels (Internet Banking, Mobile Banking Apps, USSD, Cards/POS, eNaira, etc.) to carry out their banking transactions,” said Nigerian Bank Supervision Director Haruna Mustafa .
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