Australians can use Bitcoin Lighting ATMs to instantly purchase even the smallest amount of Bitcoin.
The Australian city of Coolangatta, a coastal suburb in the City of Gold Coast, Queensland, Australia, has installed Australia’s first Bitcoin Lighting ATM.
The ATM is set up at The Strand shopping center in Coolangatta and is fully available for public use.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
What is Ethereum & What is it Used For? (Animated Explanation)
The Bitcoin Lighting ATM was launched and installed by Eagle Bitcoin ATM. The new generation of Bitcoin (BTC) ATMs equipped with Lightning Network allows users to purchase and sell Bitcoin using cash, providing cheaper, faster transactions on the Bitcoin network.
When talking about the new ATM, Eagle Bitcoin ATM Directo Amanda Alex noted:
We are thrilled to be able to offer this innovative service to the Australian public. The addition of the Lightning capability to our ATMs makes it even easier for users to buy and sell Bitcoin, and we are confident that it will be a valuable resource for the Bitcoin community.
Lighting ATMs hold a few advantages when compared to regular Bitcoin ATMs. By using Bitcoin Lighting ATMs, users save significant time as it provides instant transaction solutions enabled by the layer-2 Lightning solution.
Nevertheless, Bitcoin Lighting ATMs allow customers to purchase very small amounts of Bitcoin (BTC), which come as satoshis. It is worth noting that satoshis are generally the lowest Bitcoin denomination, with one satoshi being worth 0.00000001 BTC.
Just recently, Australia became the fourth-largest Bitcoin ATM hub in the world. As of January 1st, 2023, Australia was home to 219 Bitcoin ATMs, with the majority of Bitcoin ATMs located in Melbourne and Sydney.
The majority of Bitcoin ATMs are located in the United States, Canada and Spain. At the beginning of 2023, 38,602 ATMs were operating globally, with 6,071 installed in 2022.
