Skip to content

Cryptocurrency Bulletin

Crypto Wallets, News, Reviews and Guides

Menu
  • Home
  • Crypto Prices
  • Analysis
  • Best Crypto Wallets
  • Crypto Market Updates
  • Interviews
  • News
  • Metaverse
  • Bitcoin
  • Predictions
  • Scams
  • Opinion
  • Videos
  • People
  • Brokers
  • Exchanges
  • Guides
  • Cryptofinance
  • Sitemap
Menu

Spain Becomes Third Biggest Hub for Crypto ATMs, Overtaking El Salvador

Posted on October 25, 2022

Spain has officially become home to the third-biggest network of crypto ATMs, with the US and Canada in first and second place. As of now, Spain has 215 crypto ATMs, which puts El Salvador, which has 212 crypto ATMs nationwide, in fourth place.

Spain Makes Up For 0.6% of Crypto ATMs Globally

According to CoinATMRadar, Spain makes up about 0.6 percent of crypto ATM installations worldwide, and overtook El Salvador, which was previously in third place, by an additional 3 ATMs.

Additionally, the data shows that Spain is Europe’s biggest hub of crypto ATMs, as it accounts for 14.65 percent of overall ATM installations continent-wide.

After that comes Switzerland, which had 144 crypto ATMs, Poland, with 142 crypto ATMs, and Romania, clocking in at 135 crypto ATMs.

This year alone, the country installed 43 crypto ATMs throughout major cities. Previously, representatives even explained that the country will make sure to install over 100 ATMs altogether by the end of 2022. That would bring the total up to almost 300 crypto ATMs.

This is a major leap towards more widespread crypto adoption and not just among locals, but tourists as well.

Considering how Spain has an impressive market for tourism, it’s only natural that having more crypto ATMs will help ensure that tourists can make frequent purchases.

Growth in Crypto ATM Installations Sees Worldwide Decline

But despite Spain’s phenomenal growth with regard to crypto ATM installations, it doesn’t speak for the rest of the world.

Since September, the overall trend of crypto ATM installation worldwide has seen a decline in growth. Now, however, the numbers are rising, with analysts predicting a slow recovery.

According to data from the past 2 months, calculations indicate that about 7 crypto ATMs are installed globally on a daily basis.

Greece Ranks Sixth Place in Crypto ATM Growth

Meanwhile, Greece ranks sixth place for the number of crypto ATMs installed. As more and more tourists visit the country, the country is looking to accommodate their currency preferences, which includes crypto.

BCash, a Bitcoin ATM operator, reported usage trends in Greece. In an interview with Cointelegraph, Dimitrios Tsangalidis, the firm’s co-founder and managing director, explained that much of crypto ATM usage stems from urban city area.

But at the same time, the island of Crete lures in a huge crowd of tourists who lean towards a preference for using cryptocurrency.

He explains that the island is home to an avid crypto community, and is also a where one of the firm’s ATMs are based.

Currently, however, the crypto bear market has led to reduced traffic at crypto ATMs in the country. Combined with how it currently isn’t peak season for tourism, there has been a further reduction in the number of people frequenting crypto ATMs.

Cryptocurrency Bulletin is a blog dedicated to providing concise and up-to-date information on the latest developments in the world of digital currencies, blockchain technology, and decentralized finance.

Looking for something?

RSS Crypto Market Updates

  • Euler Finance Hacker Sends 51,000 Stolen Ether Back to Protocol
  • Bitcoin Was a Winner During the U.S. Banking Crisis, but Illiquidity Prevents It From Being a USD Hedge
  • The UK Has Created Crypto Banking Problems
  • Crypto Pundits Romance the Hyperinflation and Dollar Death Narrative. Is It a Real Scare?
  • Amazon's NFT Plans Teased in a Receipt Mailed Friday Afternoon
  • NFTX DAO Eyes Treasury Rebalancing After USDC Wobbles
  • Bitcoin Edges Below $28K as Investors Weigh Deutsche Bank Contagion Fears
  • Magic Eden Forms Web3 Games Collective With Leading Publishers, Communities
  • Bitcoin From Defunct BTC-e on the Move Again: Report
  • Eversheds Sutherland Files for Property Rights Over FTX.com Customer Assets

Recent Posts

  • JETbitX Review – What To Expect From This Broker?
  • UniTrust Venture – Things you need to know about this trading brand before opening an account
  • Axia – A Broker That Can Be Trusted? (Axia Review 2023)
  • Is Copy Trading Worth Your Time? Here’s What You Need To Know
  • PayPal Joins ConsensYs To Implement Metamask
  • Amber Group Acquires Sparrow Holdings To Expand To Singapore
  • Binance Stopped Withdrawals in USDC on December 11
  • Does Grayscale Have Enough Bitcoin In Its Reserves
  • Dubai Is Developing New Cryptocurrency Regulations
  • NFT Is Receiving Attention On The Governmental Level

Categories

Archives

©2023 Cryptocurrency Bulletin | Design: Newspaperly WordPress Theme