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Spain Has Reportedly Become the Third Largest Cryptocurrency ATM Hub

Spain, a country in Europe, has formally become the center of the 3rd-biggest network of crypto and Bitcoin ATMs following the US and Canada. At present, the country is hosting nearly 215 ATMs of cryptocurrency, leaving El Salvador (which has 212 such ATMs) behind at the 4th rank with a lead of three crypto ATMs.

Spain Outpaces El Salvador to Turn into the 3rd-Biggest Hub for Crypto ATMs

The data issued by CoinATMRadar validates that the country accounts for nearly 0.6% of ATM installations across the globe. Apart from that, with this revelation, Spain is considered to be the top region contributing to the ATMs of cryptocurrency in Europe, representing up to 14.65% of the cumulative installations across the continent, after Switzerland (with 144), Poland (with 142), and Romania (with 135).

Just in 2022, Spain witnessed the installation of forty-three crypto ATMs while it has formerly expressed the strategy to install more than one hundred ATMs by this year’s end, growing the total number to three hundred on completion. MediaMarkt (a Germany-based electronics retailer) as well as Confinity – along with the others – count as the top entities in the installation of crypto ATMs throughout Greece, Spain, Germany, and Austria.

Usage of Crypto ATMs Sees a Global Downfall amid Crypto Winter

On the other hand, a negative development has been witnessed by the installation of crypto ATMs around the world since September of this year, and the respective progress is slowly moving toward recovery currently. The statistics of the previous sixty days bring to the front that the installation of nearly 7 crypto ATMs is being done on regular basis throughout the world.

The place occupied by Greece in this crypto installation is 6th. BCash (an operation of Bitcoin ATMs) offered insights into the statistics related to the utilization of these services around the country. Dimitrios Tsangalidis (the co-founder and managing director of BCashs) disclosed that even though the crypto ATMs are being installed in the areas that are hotspots for tourists, they are being utilized by the locals to a great extent.

Nevertheless, Crete’s island allures a huge amount of crypto users, as elaborated by the executive. Tsangalidis added that, in Crete’s Heraklion (one of the locations specified for the ATMs), the crypto community is actively working. In the executive’s words, because of the tourist seasons as well as the crypto winter, the regular flow of this usage has gone through a decline.

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