In the past couple of years, several countries have adopted cryptocurrencies. However, the majority of these countries have adopted cryptocurrencies in a regulated and controlled manner.
While most countries are trying to adopt cryptocurrencies in a very hesitant manner, one country decided to legalize them completely.
It was in mid-2021 when El Salvador (ES) announced that they had legally adopted Bitcoin as a tender. Ever since the country announced Bitcoin’s legalization, it has continued the number of its Bitcoin ATMs.
Ever since the legalization, El Salvador has installed a total of 212 ATMs. However, it does not mean it has the highest number of ATMs.
Australia has taken the Lead against El Salvador
Australia is also among the countries that have realized the importance of adopting cryptocurrencies. It is among the fastest-growing countries in terms of crypto adoption.
The situation has been becoming very promising for cryptocurrencies in Australia. The people in the country have started to adopt cryptocurrencies at a very fast rate.
Therefore, companies have started to install cryptocurrency ATMs all over the region. The installation of the ATMs has been carried out on a really fast scale in Australia.
The data shows that as of now, a total of 216 ATMs have been installed all over Australia. Therefore, the country has stepped into the year 2023 with these many ATMs.
El Salvador Wanted to Install Over 200 Crypto ATMs
The adoption of the crypto ATMs fast-tracked just as Nayib Bukele, the President of El Salvador got Bitcoin legalized in the country.
After the announcement, Bukele announced that its goal is to install more than 200 ATMs throughout the country in the year 2022.
The country did work hard to install the crypto ATMs all over its jurisdiction and so far, the country has installed a total of 212 ATMs.
Within the year 2022, El Salvador became the third-largest country in terms of crypto ATMs. The countries ahead of El Salvador with the highest number of ATMs installed were the United States and Canada.
However, several countries have expedited the process of installing crypto ATMs as they have seen a high demand for them. As a result, Spain and Australia have become the fastest ATM-installing countries.
Both Spain and Australia have taken over El Salvador in the race of installing the highest number of crypto ATMs.
Spain Took Over El Salvador
It was in October 2022 when it was announced that Spain had taken over El Salvador in terms of ATM installations. In that particular month, it was reported that Spain had installed a total of 215 crypto ATMs.
With the installation of 215 ATMs, Spain had overtaken El Salvador as the third-largest country in terms of crypto ATMs.
However, Spain has not stopped at a 215 ATM count and has continued growing its number. The report shows that Spain entered the year 2023 with 226 cryptocurrency ATMs.
With Spain taking the third spot, El Salvador had been pushed down to the fourth and after Australia’s achievement, ES has been pushed down to the fifth spot.
Australia’s ATM Installation Growth
The data collected by CoinATMRadar shows that in the past three months, Australia has installed 99 ATMs for cryptocurrencies.
With the recent count added to the overall figure in Australia, it now sits at 219 active ATMs for cryptocurrencies. The country is now 7 ATMs ahead of the total count in El Salvador.
With the latest contribution by Australia, it accounts for 0.6% of the total ATM count for cryptocurrencies in the entire world.
The total number of cryptocurrency ATMs from around the world is 38,602. Out of the total number of ATMs, 6,071 ATMs alone were installed in the past year.
With Nigeria legalizing the adoption of cryptocurrencies in the country, there is a high chance it may enter the race of ATM installations very soon.