After the United States and Canada, Spain is the official home of the third-largest network of Bitcoin and cryptocurrency ATMs.
El Salvador Down to Fourth
El Salvador, which has 212 crypto ATMs, is presently in fourth place due to Spain, which has 215 crypto ATMs, having surpassed it by 3 crypto ATMs. Spain is confirmed to account for 0.6% of all crypto ATM installations worldwide, according to data from CoinATMRadar.
Additionally, the information reveals that Spain is the top contributor to crypto ATM installations in Europe, accounting for 14.65% of all installations on the continent. Spain is followed by Switzerland (144 ATMs), Poland (142 ATMs), and Romania (141 ATMs) (135 ATMs).
Spain to Install 100 By Year End
Spain installed 43 cryptocurrency ATMs in 2022 alone, and has previously stated that it plans to add another 100 by year’s end, bringing the total to close to 300. The initiative to deploy cryptocurrency ATMs in Austria, Germany, Spain, and Greece is being led by MediaMarkt, a German electronics shop, and Confinity, among others.
However, from September 2022, there has been a decline in the number of crypto ATM installations worldwide, which is currently on the road to a slow recovery. According to calculations using information from the last 60 days, about seven crypto ATMs are being placed each day in different parts of the world.
Greece A Crypto Tourist Hub
Greece ranks sixth in terms of bitcoin ATMs, and due to the increase in tourism, Bitcoin ATM provider BCash provided information on usage trends in the nation.
Dimitrios Tsangalidis, managing director and co-founder of BCash, disclosed to the cryptocurrency publication Cointelegraph that despite placing cryptocurrency ATMs in popular tourist locations, the majority of usage comes from the central business district. Tsangalidis, however, claimed that the island of Crete has a particularly devoted cryptocurrency community.
Tsangalidis claims that a delay in the regular traffic to crypto ATMs is the result of a combination of the crypto winter and the tourism seasons.
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