A New Home for Bitcoin ? The facts are not new. With rather strict regulation, but open to so-called web 3 technologies, cryptocurrencies are gaining ground in Australia. This situation is increasingly visible, as evidenced by the number of cryptocurrency distributors (ATM) growing in the country. Australia, even becoming the fourth largest cryptocurrency ATM hub in the world, ahead of El Salvador.
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Australia, the new home of cryptocurrencies?
Indeed, according to data from CoinATMRadarAustralia deployed 99 ATMs during the last three months of the year 2022. Thus, at the dawn of this new year 2023, Australia has 225 ATMs. El Salvador has only 212.
Enthusiasm remains measured no matter what, since this figure represents only 0.6% of global installations, which amount to 38,602.
Australia is not alone in the race, however. L’Spain and El Salvador have also recorded strong growth in the number of ATMs despite a slight turmoil this year. Also, in October 2022, Spain had 215 wickets against 226 at the time of writing these few lines. Asian countries nevertheless remain the most fond of cryptocurrency distributors.
ATMs, however, find enemies around the world. The decisions taken by the Nigerian government are an illustration of this. The latter wishes to reduce the use of cash in his country in favor of eNaira, the state digital currency. Thus, both in banks and with AT distributors, the limits are now 20,000 Nigerian naira per day (about $45) and 100,000 nairas per week (about $225).
While in some countries Bitcoin and cryptocurrencies are of concern, future prospects for this market in Australia appear on the whole to be rather positive. The web 3 approaches are not new, the Australian Open having already taken the plunge of the NFTs. The Grand Slam tournament is also associated with a DAO.
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