Spain overtakes El Salvador to become third largest crypto ATM hub

The European state of Spain is officially location to the third-largest web of Bitcoin (BTC) and cryptocurrency ATMs aft the United States and Canada. 

Spain presently hosts 215 crypto ATMs, pushing El Salvador — wi 212 crypto ATMs — down to the 4th presumption aft surpassing the state by 3 crypto ATMs. Data from CoinATMRadar confirms that Spain represents 0.6% of the planetary crypto ATM installations.

Crypto ATM organisation by continents and countries. Source: CoinATMRadar

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

Crypto ATM installation maturation successful Spain. Source: CoinATMRadar

In 2022 alone, Spain installed 43 crypto ATMs and has antecedently shared its intent to instal a full of implicit 100 ATMs by the extremity of the twelvemonth — taking up the full to astir 300 crypto ATMs erstwhile completed.

MediaMarkt, a German electronics retailer, and Confinity, among others, are starring the thrust to instal crypto ATMs crossed Austria, Germany, Spain and Greece.

On the contrary, global crypto ATM installations saw a antagonistic maturation since September 2022 and are connected the way of dilatory betterment astatine the clip of writing. Calculations based connected information from the past 60 days amusement that astir 7 crypto ATMs are being installed regular worldwide.

Related: Crypto ATMs emerging arsenic fashionable method for crypto scam payments — FBI

Greece takes the sixth spot successful presumption of cryptocurrency ATMs, and with the influx of tourists, Bitcoin ATM relation BCash shared insights connected the usage statistic successful the country.

Speaking to Cointelegraph, BCash managing manager and co-founder, Dimitrios Tsangalidis, revealed that contempt installing crypto ATMs successful tourer hotspots, astir usage comes from the main metropolis area.

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

“There is simply a beardown crypto assemblage successful Heraklion of Crete [which is] the determination of 1 of our ATMs."

According to Tsangalidis, a operation of crypto wintertime and tourer seasons has resulted successful a slowdown successful presumption of regular postulation successful crypto ATM usage.