El Salvador Was Surpassed By Australia On The Top Largest Crypto ATM Hub Rankings

Key Points:

• El Salvador’s position as the fourth-largest hub for cryptocurrency ATMs was short-lived as Australia developed during the following months.
• In the last three months of 2022, 99 cryptocurrency ATMs were installed in Australia. As of January 1, 2023, Australia had 225 operational crypto ATMs, 7 more than El Salvador. In the list of nations with the most crypto ATM installations, the nation has fallen into another spot.

Although one of the leading countries in legalizing Bitcoin, El Salvador is behind Australia in this regard.

El Salvador’s reign as the fourth-largest center for crypto ATMs was brief because Australia improved during the ensuing months.

According to CoinATMRadar data, Australia installed 99 cryptocurrency ATMs in the final three months of 2022. Australia had 225 active crypto ATMs as of January 1, 2023, outnumbering El Salvador by 7 ATMs as of this writing. The country has dropped another position in the rankings of countries with the most crypto ATM installations.

Not only Australia but Poland has also surpassed El Salvador with the number of 222 crypto ATMs. Topping the list of countries with the most crypto ATM installations is the US, whose policy has become increasingly cautious in the wake of the recent crypto-related crises.

Canada and Spain still maintain their 2nd and 3rd positions, respectively. However, the number of crypto ATMs in Canada is almost 10 times that of Spain.

President Nayib Bukele made the decision to place more than 200 cryptocurrency ATMs across the nation as part of his effort to make Bitcoin a legal tender.

El Salvador was at the time, in September 2021, the third-largest center for cryptocurrency ATMs after the United States and Canada, but in 2022, Spain, Australia and Poland passed El Salvador in terms of ATM density.

As Coincu reported, the Government of El Salvador created the new National Bitcoin Office (ONBTC), planning to manage all crypto projects. ONBTC’s goal is to design, diagnose, plan, program, coordinate, follow up, measure, analyze and evaluate plans, programs, and projects related to Bitcoin for the country’s economic development.

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Harold

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