Mon 02 Jan 2023 ▪ 17:00 ▪
4
min read – from
Not long ago, El Salvador became the 4th largest cryptocurrency ATM center in the world. A rather interesting position which ultimately did not last long, as Australia had just taken it over. Once good El Salvador began in 2021, Australia continued to multiply its activities during this period to finally move ahead of the first country to legalize bitcoin as an official currency.
El Salvador loses its place as the fourth largest cryptocurrency hub in Australia
In 2021, El Salvador decided to everyone’s surprise to adopt bitcoin as its official currency. Despite the reluctance of several institutions, the country managed to implement this bill. Since then, the government has stepped up efforts to democratize the use of bitcoin in the country. It is in this logic that he will undertake to install approximately 200 crypto ATMs throughout the national territory.
A decision not without consequences, since El Salvador has become one of the largest ATM crypto hubsjust behind the United States and the Canada. But in the year 2022 things will change rapidly, and countries like Spain and especially Australia will take over the Central American country. Therefore, at the end of the year, he will fall two places.
In detail, thanks to installation of 215 ATM cryptocurrencies. The country will not stop there and will add more facilities to relocate to 226 crypto ATMs Nowadays.
El Salvador’s positioning will evolve rapidly, as Australia will follow Spain 99 crypto ATMs in all countries. This new addition allows Australia to have 219 ATMs, 7 more than El Salvador.
While Australia and El Salvador have success with installing cryptographic ATMs, the same cannot be said for all countries. Nigeria, for example, has just approved limiting cash withdrawals from ATMs. This follows the government’s willingness to impose eNaira on the central bank (CBDC).
Conclusion
Before 2022, Australia and Spain were behind in the ranking of the largest ATM cryptocurrency hubs. But, within a few months, everything changed with top positions at the expense of El Salvador, the Central American country. One thing is for sure, this ranking will evolve over the coming months as other countries will surely try to catch up with the others.
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PhD student in financial law and expert SEO web editor, Cédrick Aimé is passionate about cryptocurrencies, trading, etc. He naturally participates thanks to his articles in the daily blockchain revolution for a better democratization of DeFi.