Despite the cryptocurrency’s volatile price, Bitcoin infrastructure across Australia is enjoying strong growth.
The number of Bitcoin ATMs in Australia has more than doubled in the past six months bringing the total number of these machines to 46. Until this recent growth, only people in Australia’s larger cities like Sydney and Melbourne had access to Bitcoin ATMs.
Up to the end of 2017, there were 21 Bitcoin ATMs across Australia. The first Bitcoin ATM in Australia was installed in Sydney’s Pitt Street Mall in 2014.
On the east coast of Australia, there are 18 Bitcoin ATMs available from Cairns in the north to Sydney in the south. There are four Bitcoin ATMs across Adelaide.
Victoria has the highest number of Bitcoin ATMs at 13 with eight of these installed in the city of Melbourne and surrounding suburbs this year alone. The remaining Bitcoin ATMs are located across Australia.
To use a Bitcoin ATM people simply navigate a touch screen to select how much Bitcoin they want to purchase, insert their cash and the Bitcoin is deposited into a mobile or paper wallet. To sell Bitcoin, this process is reversed, and the ATM provides cash.
According to a spokesperson for Bitcoin ATM locator website FindBitcoinATM the rapid growth in Bitcoin ATMs across Australia is a positive sign for cryptocurrencies.
“The rapid growth in Bitcoin ATMs across Australia in 2018 is exciting and shows just how receptive Australia is to this new technology.
“As cryptocurrencies become more widely accepted, I anticipate the number of Bitcoin ATMs around Australia to continue growing rapidly.”