Bitcoin ATMs increase hit 29-month streak in Australia

Bitcoin automated teller machines (ATMs) in Australia have been increasing, maintaining a 29-month streak. According to reports, the figure is presently challenging Europe, one of the places with the highest number of Bitcoin ATMs. According to the crypto ATM tracking platform Coin ATM Radar, Australia has witnessed a net positive addition of new Bitcoin ATMs in the last 29 months.

According to the platform, the country now has 1,359 Bitcoin ATMs, which represents 3.5% of the ATMs globally. Although the number looks small, it puts Australia in the top 3 in global Bitcoin ATMs held by countries.

The number is close to that of Europe, with the data tracker putting the number of Bitcoin ATMs in Europe at around 1,660. If Australia surpasses this number, it will become the third country with the most Bitcoin ATM networks, with the United States and Canada occupying the top two spots.

United States lead in Bitcoin ATM ownership

According to the report, Australia has about eight crypto ATM operators in charge of the machines. Coinflip leads the charge with about 50% of the total, while Localcoin ranks in second place with about 36% of the machines. Crypto Link, at 6%, ByteFederal Australia, at 2.7%, and Bitrocket, at 2%, make up the top five list.

The United States leads other countries in the number of Bitcoin ATMs. The country has had to battle with several regulatory issues in its crypto market, leaving users seeking clarity. That, however, did not stop the country from dominating the Bitcoin ATM market. Presently, the country has 31,516 Bitcoin ATMs.

The figure means the United States has about 81.3% of its Bitcoin ATMs globally. Canada, which has made fairly limited noise in the crypto industry, ranks second. The country has about 3,027 Bitcoin ATMs, representing 7.8% of the entire Bitcoin ATM market.

The United States and Canada have a cumulative 34,543 total Bitcoin ATMs, putting North America around 90% of the total, according to continents. Europe and Oceania share 4% of the total number, with Australia at 3.5%. Asia boasts 0.9% of the total, while Africa was nowhere on the list. In total, the number of Bitcoin ATMs in the world is 38, 753.

Regulators issue warnings over increase in scams on Bitcoin ATMs

With the rise of Bitcoin ATM machines, there has been an increase in the cases of scammers using the machines. The United States Federal Trade Commission (FTC) recently warned users about the rise in bad actors using machines to carry out their criminal activities. The body highlighted that the criminals were using the anonymity and speed of the machines to their advantage.

The FTC noted that users should be wary of criminals impersonating firms to ask for Bitcoin via ATM machines, noting that no reputable firm will do that. The body also said users should be careful when making transactions and refrain from sending funds to users with hidden identities.

United States lawmakers have also previously sent letters to ATM providers about the rising number of scams targeting Bitcoin ATM users in the country. They asked them to investigate fraudulent activities targeting people, especially elderly ones. In the letter, one of the authors, Senator Elizabeth Warren, cited the $65 million loss to Bitcoin ATM scams, calling it alarming.

The Senators mentioned that the reason why the criminals are targeting older people is because they are unlikely to report such losses. They also cited a report of a business owner who removed a Bitcoin ATM, claiming that only scammers were using it. A New York Times report also revealed the same thing, noting that the scams targeted older Americans.

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