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Despite a bear market and a record-low pace of new Bitcoin ATM installations worldwide, Australia is breaking into the top three countries globally for the number of crypto ATMs. It wasn’t until the first days of January that the Austrians finished in fourth place, since then they have installed 16 more cars.

According to data from Coinatmradar, Australia now has 234 crypto ATMs, making it third in the world behind the US and Canada. Within three weeks, it surpassed Spain, which has 222 crypto ATMs.

It’s all about dynamics. Australia deployed 99 crypto ATMs, nearly half of its total, in the last three months of 2022 alone. And it’s not slowing down. Since January 1, Australia has installed 16 new machines, while Spain has effectively lost 4, and El Salvador, ranked 5th in the world, has registered no new ATMs.

Distribution of Crypto ATMs by Continent and Country. Source: CoinATMRadar

Overall, the figures for Australia, as well as Spain and El Salvador, can hardly match the huge proportion of crypto ATMs in the US. Together with Canada (2,556), they hold a staggering 94.4% of all crypto ATMs at the time of writing.

Related to: How to buy Bitcoin in Australia?

In 2022, a year-long bear market accompanied by geopolitical tensions and global inflation led to a dramatic slowdown in crypto ATM installations. Only 94 Bitcoin ATMs were added to the global network between July 2022 and the end of 2022, compared to 4,169 ATMs in the first half of 2022.

In January 2023, the Australian city of Coolangatta received its first Bitcoin ATM with integrated Lightning Network capabilities. It works like traditional crypto ATMs, but saves significant time thanks to the layer-2 Lightning solution. And also allows you to buy very small amount of BTC.