El Salvador has lost its position as the fourth largest crypto ATM hub after Australia.
A promising 2023 for crypto ATMs
The sudden change comes after Australia set up 99 crypto ATMs across the country in the last quarter of 2022. As of this publication, there are 216 active crypto ATMs in Australia.
El Salvador is pushing for mass adoption of crypto. It has become the first country to accept bitcoin legal tender, Since the achievement of that milestone, the Nayib Bukele-led administration has been making great strides in promoting crypto-centric payment methods. In September 2021 there are now more than 200 crypto ATMs in various locations in the country.
Previously, El Salvador ranked third, after the United States and Canada, as the country with the highest number of crypto ATMs on the planet.
October saw a change in rank as Spain took third place, installing 215 digital asset ATMs, and increasing the number to 226 since the start of 2023, replacing El Salvador, who is now behind Australia again. Australia only lead El Salvador by 7 ATMs, a figure that could potentially be overturned by the opposition sooner or later if Australia hibernates its progress.
Australia’s ATM The calculation fixes 0.6% of the total ATMs installed worldwide. The country is progressively achieving its target of achieving 3,000 ATMs on or before 2027.
Crypto ATM installation numbers are at an all-time high
According to CoinAtmRadar, an online analytics company that tracks the number of crypto ATMs installed around the world, crypto ATMs are at an all-time high of around 40,000 machines. Data shows that since 2018 the numbers have increased significantly and consistently. Highest figures ever recorded in 2022 despite the ongoing ‘Crypto Winter’ and political sanctions likely to affect the crypto world following the FTX debacle.
With the rapid rise of decentralized finance, mass adoption of crypto payment methods is now more imminent than ever. Several companies now accept payment plans in cryptocurrencies, including chart provider and analysis platform TradingView. Mastercard is among the giants pushing crypto payment methods.
The payment processor recently made headlines after it tied up with BitOasis to promote crypto-payment systems around the world.
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