Australia Nears Europe's Bitcoin ATM Tally, Sustaining 29-Month Growth Streak

In a remarkable trend, Australia has sustained a 29-month streak of monthly additions to its Bitcoin ATM network. As of now, the nation boasts 1

Australia's Bitcoin ATM network has seen a remarkable 29-month streak of monthly additions, bringing the total number of machines in the country to 1,359. This accounts for approximately 3.5% of the global total, putting Australia in the running to overtake Europe's tally of 1,660 ATMs.

According to data from Coin ATM Radar, Australia is now vying for third place in the world rankings for the highest number of Bitcoin ATMs, following the United States and Canada. The U.S. maintains its clear lead with 31,516 ATMs, which represents 81.3% of the global count. Coming in second is Canada, with 3,027 ATMs, amounting to 7.8% of the total market.

As the staggering figures indicate, North America boasts an overwhelming presence in the global Bitcoin ATM market, hosting over 90% of all machines worldwide. Europe and Oceania each account for around 4% of the ATMs, while Asia has a relatively small presence with only 0.9%. In total, there are 38,753 Bitcoin ATMs deployed around the world.

However, this growth in Bitcoin ATM accessibility has also brought to light an alarming trend of scams perpetrated through these machines, particularly in the United States. According to the Federal Trade Commission, fraudulent activities involving Bitcoin ATMs have resulted in staggering losses exceeding $110 million in 2023 alone. Scammers are exploiting the anonymity and rapid transaction capabilities of these machines to carry out their illicit schemes.

In response to this pressing issue, U.S. lawmakers have intervened, urging major ATM operators to prioritize addressing fraud, especially scams targeting elderly individuals. These efforts aim to curb the fraudulent use of Bitcoin ATMs and protect vulnerable members of society from financial losses.