Spain overtakes El Salvador to become third largest crypto ATM hub

Published at: Oct. 22, 2022

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

Spain currently hosts 215 crypto ATMs, pushing El Salvador — wi 212 crypto ATMs — down to the fourth position after surpassing the country by 3 crypto ATMs. Data from CoinATMRadar confirms that Spain represents 0.6% of the global crypto ATM installations.

Moreover, the revelation places Spain as the highest contributor to crypto ATMs in Europe, which represents 14.65% of total installations in the continent, followed by Switzerland (144 ATMs), Poland (142 ATMs) and Romania (135 ATMs).

In 2022 alone, Spain installed 43 crypto ATMs and has previously shared its intent to install a total of over 100 ATMs by the end of the year — taking up the total to nearly 300 crypto ATMs once completed.

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

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

Related: Crypto ATMs emerging as popular method for crypto scam payments — FBI

Greece takes the sixth spot in terms of cryptocurrency ATMs, and with the influx of tourists, Bitcoin ATM operator BCash shared insights on the usage statistics in the country.

Speaking to Cointelegraph, BCash managing director and co-founder, Dimitrios Tsangalidis, revealed that despite installing crypto ATMs in tourist hotspots, most usage comes from the main city area.

However, the island of Crete attracts a "very loyal cryptocurrency crowd,” as explained by Tsangalidis:

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

According to Tsangalidis, a combination of crypto winter and tourist seasons has resulted in a slowdown in terms of regular traffic in crypto ATM usage.

Tags
Bitcoin
Altcoin
Atm
El Salvador
Europe
Spain
Coinatmradar
Related Posts
The number of Bitcoin ATMs in the US rose 177% over the past year
Since March 1, 2020, the number of new Bitcoin ATMs installed worldwide is nearing 10,000. According to the latest data from Coin ATM Radar, the current number of machines stands at 16,835, a strong 57.5% increase, or 9,683 new machines, as compared with 7,152 last year. Back in Nov. 2020, Cointelegraph had reported a striking year-on-year increase of 80%. As previously, the vast majority of machines continue to be located in the United States, where 81% (13,699 out of 16,835 machines globally) are installed. Within the U.S., growth has been unparalleled, rising by 177% since March 1, 2020, or from …
Bitcoin / March 10, 2021
Australia overtakes El Salvador to become 4th largest crypto ATM hub
El Salvador, the first country to legalize Bitcoin (BTC), has been pushed down yet another spot in total crypto ATM installations as Australia records 216 ATMs stepping into the year 2023. As part of El Salvador’s drive to establish Bitcoin as a legal tender, President Nayib Bukele had decided to install over 200 crypto ATMs across the country. While this move made El Salvador the third largest crypto ATM hub at the time after the United States and Canada in September 2021, Spain and Australia overtook the Central American country’s ATM count in 2022. On October 2022, Cointelegraph reported that …
Adoption / Jan. 1, 2023
A dozen Bitcoin ATMs installed at the largest EU electronics retailer
Austrians have “sufficient funds” for more Bitcoin ATMs — that’s the verdict that MediaMarkt, a German electronics retailer, reached following a successful Bitcoin ATM pilot in Austria. MediaMarkt has rolled out Bitcoin (BTC) ATMs in 12 branches across the country, including Seiersberg and Klagenfurt. Confinity and its spinoff ATM company, Kurant, manage over 200 Bitcoin ATMs in Austria, Germany, Spain and Greece. Kurant's Head of Marketing & Sales, Europe, Thomas Sperneder told Cointelegraph: "MediaMarkt stores across the country have been equipped with Bitcoin vending machines. In total, these are now present in twelve markets and enable the simple and secure …
Adoption / April 21, 2022
US dominates crypto ATMs installations and BTC hash rate worldwide
Despite the myriads of state and federal regulatory hurdles faced by crypto businesses in the region, the United States plays a major role in preserving the Bitcoin (BTC) and crypto ecosystem. With China moving out of the picture following a permaban on crypto, the United States maintains the top position in terms of hash rate contribution and ATM installations worldwide. Prior to cracking down on BTC mining, China historically represented over 50% of the total hash rate up until Feb 2021. With China out of the competition, the U.S. picked up the slack to become the highest BTC hash rate …
Adoption / July 10, 2022
Bitcoin Depot converts BTC ATMs to software to reduce operating costs
Crypto ATM installations have seen a steady decline across the world over the past several months. While some ATMs have been taken out of operation due to geopolitical tensions and revenue decline, some providers like Bitcoin Depot have started converting their physical Bitcoin (BTC) ATMs to software. Bitcoin Depot recently converted all of its 7,000 crypto ATMs and kiosks to a software-based offering powered by BitAccess. The software conversion drive came after Bitcoin Depot acquired majority equity in BitAccess back in November 2022. Months before the deal, Bitcoin Depot had revealed plans to go public in 2023 via an $885 …
Bitcoin / Feb. 28, 2023