There are already more than 115 BTC and cryptocurrency active ATMs in Spain. BitBase operates 29 ATMs and 18 physical establishments in the Iberian region.
The BitBase Company now operates 25% of Bitcoin and cryptocurrency ATMs in Spain, owning 29 devices of 116 that, according to its sources, exist in the country.
An installation of a considerable number of ATMs occurred in Spain. Some of them are operating independently, and one of them accompanies a new BitBase establishment in the city of Vitoria, capital of the Basque Country.
The other 7 ATMs, which allow users to exchange the cryptocurrencies bitcoin (BTC), ethereum (ETH), tether (USDT) and ripple (XRP), are located in Barcelona (Av. De Madrid, 120), Sant Boi (Av. De la Marina, 42), Castelldefels, (Passeig Marítim, 86), Madrid (Calle de Bretón de los Herreros, 19), Valencia, (Carrer de Cirilo Amorós, 52), Murcia, (Plaza Martínez Tornel, 1) and Torremolinos (Calle Casablanca, 9).
The Vitoria store’s location is at Calle Eduardo Dato, 38-B, Bajo 4, being the store number 18 that they open in Spain and another establishment that is a franchise in L’Hospitalet de Llobregat, Barcelona.
An Expansion of ATMs is Taking Place in Spain
According to Álex Fernández, CEO of BitBase, the main goal of BitBase is to become “the first cryptocurrency bank” in the Iberian region. This status will grant the company the opportunity to allow the purchase and sale of cryptocurrencies through these devices.
The opening of BitBase’s 15th store in Spain happened recently; this store is the second of its kind in Madrid. The added value of this company is that the user can access the purchase and sale of cryptocurrencies and have specialized advice on the subject in their physical establishments to assist users.
There are currently 18,813 ATMs for BTC and other cryptocurrencies distributed in 73 countries worldwide, as shown by CoinATMRadar.
According to various reports, Spain ranks as the fifth country with the most ATMs, with 140, behind Austria (156), the United Kingdom (200), Canada (1,396), and the United States. Unidos (16,170), which ranks first.
A Brief Story about the Bitcoin ATMs
A bitcoin ATM is very similar to any other ATM that users can find in Spain. The difference is that these ATMs work with cryptocurrencies and cash but applying similar technology to a standard ATM. A bitcoin ATM counts on the Bitcoin network and the blockchain to be able to make its exchanges. Some users call these ATMs BTMs, to highlight their relationship to bitcoin. Like many other technologies, there is nothing standardized, and each ATM has its features.
Some ATMs only allow users to purchase bitcoin. These devices usually come with the message “Buy Bitcoin Here!” (Buy bitcoins here!). Other ATMs are bidirectional bitcoin ATMs, which means they allow the purchase and sale of bitcoins but Less than half of these devices are bidirectional.
By: Jenson Nuñez