Spain claims 3rd position for most exceptional growth of crypto ATMs
Although the current market situation has chained the spirit of many investors, cryptocurrencies continue to be used in global financial systems on the other side. Similarly, crypto ATMs are one of these key areas that show how crypto is becoming an everyday thing.
The effect of the market’s ups and downs halted crypto development to some extent. Meanwhile, Spain has positioned itself as the world’s third largest country of crypto-ATMs after the United States and Canada.
According to CoinATMRadar’s findings, Spain has installed 215 ATMs, as opposed to El Salvador’s count of 212 ATMs at the time of writing. Now the country represents 0.6% of global crypto ATMs. The milestone allowed the country to overtake El Salvador and put it in fourth place on the list.
Furthermore, research reveals that Spain is still at the top on the continent when it comes to the use of crypto ATMs. The country hosts 14.65% of crypto ATMs in Europe. Switzerland probably secured its second position by installing 144 ATMs. And Poland is in third place with 143 ATMs, and Romania in fourth place with 135 machines.
Spain, Germany, Austria and Greece previously partnered with crypto platforms and other spin-off companies last year in a deliberate effort to increase the installation of crypto ATMs. It involves, among others, a German electronic company MediaMarkt, Confinity and crypto platform Bitnovo to lead the launches of ATMs in the regime.
In addition, Spain’s partnership with European electronic manufacturer Eurocoin set a goal of installing over 100 ATMs starting this year, bringing the total number to 300 when completed. So far, only 43 ATMs have been installed by 2022. And the third positional milestone has been achieved by Spain without the plan being completed.
Crypto ATMs are a valuable resource for accelerating adoption
Despite being a tourist hub, Greeks come in sixth when it comes to crypto ATMs.
Bcash, a crypto-based ATM operator, revealed that most of the traffic for ATMs in the country comes from the metropolitan area rather than tourist spots. Dimitrios Tsangalidis, CEO and co-founder of Bcash, stated that a coincidence of tourism with crypto winter caused the decline in crypto ATMs.
Although not all countries have yet interacted with crypto ATMs, it is a useful source for accelerating crypto adoption around the world. And we expect to see more growth in ATMs in the near future. In line with the analysis of the previous sixty-day data, the average number of daily crypto installs is 7. Crypto ATM growth has been slowing globally since September 2022.
The US also showed great interest in facilitating crypto ATMs. As of the March 2021 report, 45 of the 50 states had installed ATMs, and the meme coin, Dogecoin, was made available at over 1,800 ATMs.
Featured image from Pixabay and chart from TradingView.com
