As a seasoned crypto investor with a keen eye for market trends, I find the surge of Bitcoin ATMs in Australia particularly intriguing. Having spent several years navigating the complex world of cryptocurrencies, I’ve seen firsthand how this technology is revolutionizing financial transactions.
The rapid expansion of Bitcoin ATMs in Australia, nearing European numbers, is a testament to the growing acceptance and demand for digital currencies Down Under. It’s fascinating to see a country traditionally known for its kangaroos and koalas leading the charge in this innovative sector.
However, it’s important not to lose sight of the potential risks associated with these machines, as highlighted by the increasing number of scams. As a cautious investor, I always advise others to stay vigilant and educate themselves on the best practices for securing their digital assets.
On a lighter note, one might say that the rise of Bitcoin ATMs is making Australia a bit more urban jungle than outback, with the number of machines almost surpassing the number of wild kangaroos! But remember, folks, while these machines may make our lives easier, always keep an eye out for those cunning roos disguised as scammers!
Over the past two years and more, the count of Bitcoin Automated Teller Machines (ATMs) in Australia has been steadily rising, reaching a level that is almost on par with the total number of such machines in Europe.
Over the past 29 months, data from Coin ATM Radar indicates that Australia has consistently increased its number of Bitcoin Automated Teller Machines (ATMs), making a positive net gain. Currently, Australia boasts 1,359 Bitcoin ATMs, which represents about 3.5% of all such machines worldwide. Although this percentage may appear small, it places Australia third globally in the total number of Bitcoin ATMs.
Approaching Europe’s number of Bitcoin ATMs, Australia currently hosts nearly as many, with approximately 1,660 Bitcoin ATMs tracked in Europe. Should this trend continue, Australia could soon claim the title for the world’s third-largest Bitcoin ATM network, trailing behind only the United States and Canada.
United States leads in the number of Bitcoin ATMs
Despite an unfavorable regulatory landscape for cryptocurrencies over the past few years, the United States has remained dominant in the Bitcoin Automated Teller Machine (ATM) market.
Currently, as of December 29th, it’s reported that the United States is home to approximately 31,516 Bitcoin Automated Teller Machines (ATMs). This represents a substantial 81.3% share of all such Bitcoin ATMs globally. Following closely behind is Canada with around 3,027 crypto ATMs, accounting for roughly 7.8% of the global market.
As a researcher delving into the global distribution of Bitcoin Automated Teller Machines (ATMs), it’s fascinating to note that the North American region dominates the landscape, accounting for an impressive 90%. In contrast, Europe and Oceania each claim approximately 4%, while Asia trails slightly with a mere 0.9% share of these Bitcoin ATMs worldwide.
In total, there are 38,753 Bitcoin ATMs across the globe.
Bitcoin ATMs increasingly used for crypto scams
With more and more Bitcoin Automated Teller Machines (ATMs) appearing, so too does the growing number of swindlers taking advantage of these machines for their illicit activities. The United States Federal Trade Commission (FTC) cautioned users on August 26, stating that they’ve observed a surge in fraudsters employing Bitcoin ATMs as part of their schemes, leveraging the anonymity and swiftness of cryptocurrency transactions. According to the FTC, the total losses due to these Bitcoin ATM scams surpassed $110 million in the year 2023.
In light of concerns over Bitcoin ATM scams specifically targeting the elderly, U.S. legislators have penned letters to leading operators of these machines across the nation, advocating for measures aimed at preventing such fraudulent activities.
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2024-12-29 16:31