Spain overtakes El Salvador to become the third largest hub for cryptocurrency ATMs

European Spain is officially home to the third largest network of cryptocurrency and Bitcoin (BTC) ATMs after the United States and Canada.

Spain currently hosts 215 crypto ATMs, pushing El Salvador – with 212 crypto ATMs – to fourth place after overtaking the country with 3 crypto ATMs. Data from CoinATMRadar confirms that Spain accounts for 0.6% of global crypto ATM installations.

Distribution of encrypted ATMs by continents and countries. Source: CoinATMRadar

Furthermore, this discovery placed Spain as the largest contributor to cryptocurrency ATMs in Europe, which accounts for 14.65% of all establishments on the continent, followed by Switzerland (144 ATMs), Poland (142 ATMs) and Romania (135 automated teller machine).

The growth of the installation of cryptocurrency ATMs in Spain. Source: CoinATMRadar

In 2022 alone, Spain installed 43 crypto ATMs and previously shared its intention to have more than 100 ATMs installed by the end of the year – bringing the total to nearly 300 crypto ATMs once completed.

MediaMarkt, a German electronics retailer, and Confinity, among others, are leading the campaign to install cryptocurrency ATMs across Austria, Germany, Spain and Greece.

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

Greece ranks sixth in terms of cryptocurrency ATMs, and with the influx of tourists, Bitcoin ATM operator BCash has shared insights into the country’s usage statistics.

Speaking to Cointelegraph, BCash managing director and co-founder Dimitrios Tsangalidis revealed that although crypto ATMs are installed in tourist hotspots, most of the use comes from the main city area.

However, Crete attracts a “very loyal crypto audience,” Tsangalidis explained:

“There is a strong crypto community in Heraklion in Crete [وهو] The location of one of our ATMs.

According to Tsangalidis, a combination of crypto winters and tourist seasons has slowed down regular traffic using crypto ATMs.

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