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Sunday, December 4, 2022

Spain Becomes The Third Largest Crypto ATM Hub

With 215 cryptocurrency ATMs Spain has managed to push El Salvador, which has a total of 212 ATMs to fourth position. It is now in the third position, having surpassed El Salvador by 3 ATMs.

Crypto Currency And Spain

The Spanish Country now represents 0.6 percent of the total installation of cryptocurrency ATMs globally. And they are currently placed third after the USA and Canada. 

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In the European Continent, Spain is the largest having a share of 14.65 Percent of installations of ATMs. Switzerland, Poland, and Romania are the other top three countries. Switzerland has 144 ATMs, Poland has 142, and Romania has 135 ATMs.

The Spanish have a target of installing more ATMs, to take the total number of ATMs installed to over 300 hundred. In 2022 itself, in the first few months have completed the installation of around 43 and have expressed a desire and intent to install more than 100 ATMs by year-end.

Confinity and MediaMarkt are leading the race to install ATMs in four countries. Namely Spain, Austria, Greece, and Germany. 

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Crypto ATM installations can be considered an important metric when looking at crypto adoption in different regions. But the installations are not totally contingent on local adoption. For example, Bitcoin ATM operator BCash strategically placed its ATMs in Greece by looking at popular destinations among tourists. Greece has the sixth-largest installation of ATMs.

The USA also accounted for the most number of crypto ATMs installed, housing more than 87% of the world’s ATMs. After seeing consistent growth for almost six years, the global crypto ATM installations showed a negative growth last month.

This could be concluded as the total number of ATMs installed went down by 2% during the month. This could be a short-term negative growth and the installations of ATMs could be on the rise once again as tourists start traveling in full swing post the pandemic.

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