El Salvador’s reign as the fourth-largest center for crypto ATMs was brief since Australia improved during the next months.
The rise of Crypto ATMs
El Salvador was the first nation to make Bitcoin legal. It has dropped even another position in the ranking of the countries with the most crypto ATM installations, as Australia reports 216 ATMs as the year 2023 begins.
President Nayib Bukele placed more than 200 cryptocurrency ATMs across El Salvador in 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 (1). Spain installed 215 crypto ATMs, making it the third-largest center for crypto ATMs. 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 since Australia improved during the next months.
The latest reports
According to CoinATMRadar data (2), Australia installed 99 cryptocurrency ATMs in the final three months of 2022. Australia had 219 operational crypto ATMs as of January 1, 2023, outnumbering El Salvador by 7 ATMs as of this writing. At this rate, Asia’s 312 crypto ATMs, which make up 0.6% of all installations worldwide, might surpass Australia’s 0.6% share. The whole cryptocurrency There are currently 38,602 ATMs in use globally, 6,071 of which were added just in 2022.
The government of Nigeria was compelled to cap ATM cash withdrawals to $225 (100,000 nairas) every week as a result of the country’s efforts to compel the adoption of its own central bank digital currency (CBDC), known as eNaira. The director of banking supervision, Haruna Mustafa, announced the initiative by saying, “Customers should be encouraged to utilize alternative channels (online banking, mobile banking applications, USSD, cards/POS, eNaira, etc.) to complete their banking activities.”
