Spain Now Joins The Third-largest Number Of Crypto ATMs In The World, DisTINGuishing El Salvador

Crypto ATMs in Spain thrive. (photo: @joshdjsavage)

JAKARTA - Spain has now officially become a country with Bitcoin ATM networks and the third largest cryptocurrency in the world after the United States and Canada.

In Spain there are currently 215 crypto ATMs, 23 crypto ATMs ahead of El Salvador which have a network of 212 crypto ATMs. Data from CoinATMRadar confirms that Spain represents 0.6% of the crypto ATM installation globally.

In addition, the report also places Spain as the highest contributor to crypto ATMs in Europe, as it represents 14.65% of the continent's total installation. This record was followed by Switzerland (144 ATMs), Poland (142 ATMs) and Romania (135 ATMs).

In 2022 alone, Spain installed 43 crypto ATMs and previously shared its intention to install a total of more than 100 ATMs by the end of the year. If this happens, there will be a total of nearly 300 crypto ATMs available in the country.

MediaMarkt, an electronics retailer from Germany, and Confinity, currently leads efforts to install crypto ATMs in Austria, Germany, Spain, and Greece.

In contrast, global crypto ATM installations have experienced negative growth since September 2022 and are on a slow recovery path at the time of writing. Calculations based on data from the last 60 days show that about seven crypto ATMs are installed daily around the world.

Greece took sixth place in terms of cryptocurrency ATMs, and with the entry of more and more tourists in the country. This was reported by Bitcoin ATM operator BCash in the country.

Speaking to Cointelegraph, BCash's managing director and co-founder Dimitrios Tsangalidis, revealed that despite installing crypto ATMs on tourist hotspots, most of the usage comes from major city areas.

However, on the island of Lebanon there is a "very faithful crowd of cryptocurrencies," as explained by Tsangalidis.

"There is a strong crypto community in the Heraklion of Crete [which is] the location of one of our ATMs," said Tsangalidis.

According to Tsangalidis, the combination of crypto winter and tourist season has resulted in a slowdown in regular traffic in the use of crypto ATMs.