Bitcoin ATMs in Australia have steadily increased for over two years, placing the country near Europe in total machine count.
According to Coin ATM Radar, Australia has achieved 29 consecutive months of net positive Bitcoin ATM installations, bringing its total to 1,359 machines. This figure accounts for 3.5% of the world’s ATM machines, ranking Australia third globally in ATM count.
Australia is now approaching Europe’s total of 1,660 Bitcoin ATMs. If surpassed, Australia would host the third-largest ATM network, trailing only the United States and Canada.
However, the US takes the first spot, even despite so many regulatory challenges. The country has 31,516 machines as of December 29, accounting for 81.3% of all Bitcoin ATMs worldwide. Canada ranks second with 3,027 machines, representing 7.8% of the market.
Together, the North American region controls over 90% of global crypto ATMs. In comparison, Europe and Oceania each account for about 4% of the global total, while Asia lags with just 0.9%. Across the globe, there are 38,753 Bitcoin ATMs.
Rising Bitcoin ATM Fraud
The United States Federal Trade Commission (FTC) reported on August 26 that fraudsters are exploiting the anonymity and speed of Bitcoin ATM transactions, resulting in scams surpassing $110 million in 2023, with many cases targeting vulnerable groups such as the elderly.
In response, US lawmakers have urged top ATM operators to implement measures to address fraud due to the rising need for consumer protection amid the machines’ rising popularity.
Overall, 2024 has been a year where security and consumer protection was critical than aver. The primary cause of crypto-related hacks in 2024 was access control vulnerabilities, which accounted for 75% of total damages across decentralized protocols, as well as centralized exchanges and gaming and metaverse platforms.
