The European country is the fifth on a global scale, with the largest number of cryptocurrency ATMs. The cities with the most devices are Barcelona, Madrid, Malaga, and Palma de Mallorca.
According to Coin ATM Radar, Spain is the fifth country with the most Bitcoin (BTC) automated teller machines (ATMs) installed worldwide, with a total of 103 devices. The platform indicates that, on average, a device of this type is installed in the European country every three days.
The scale that the indicator displays is the result of two variables: the installations done in the last 60 days and the speed calculated based on the last seven. The relationship shows the installation of 0.3 ATM per day, that is, in theory; there is one new device in Spain every three days for the purchase or sale of cryptocurrencies such as Bitcoin.
When expanding the scale into all of Europe, the ratio rises to 0.7 ATMs per day. In other words, an average of two ATMs is installed every three days, which means that Spain accounts for half of the equipment installed on the continent.
It is possible to configure Bitcoin ATMs according to the needs of each buyer or investor. There are unidirectional ones, which only distribute currencies to wallets, or bidirectional ones, which allow trading cash for cryptocurrencies or vice versa.
The price of the equipment may vary depending on the added features and the hardware used. An ATM that processes Bitcoin can cost between USD 3,000 and USD 6,500, according to manufacturer General Bytes. Spain is the third country with the most ATMs of this type in Europe, only behind the United Kingdom (277) and Austria (149).
The scope of ATMs in this country covers the main cities, with special emphasis on Barcelona (25), Madrid (15), Malaga (11), Palma de Mallorca (10), Seville (7), and Valencia (6). Coin ATM Radar states that there are 103 computers in Spain, but it shows 85 devices in another statistic, which could be the number that remains active.
The country with the most bitcoin ATMs is the United States, with 7,439, that is, 76% of the devices are concentrated in a single nation. In Latin American, Colombia (59), Panama (18), Dominican Republic (16), Argentina (13), and Mexico (9) lead the ranking.
Bitcoin, Altcoins, and ATMs in Spain
All the reported ATMs accept Bitcoin, while 67 of them also process altcoins including Ether (ETH), Litecoin (LTC), Dash, Bitcoin Cash (BCH), Ripple (XRP), Zcash, and Monero (XMR). Of the total equipment installed, 49% of the ATMs allow buying and selling cryptocurrencies, while the other 51% only allow buying them.
One important aspect regarding Bitcoin ATMs is that of the fees that they charge for each transaction. Given that these can vary significantly, users should always be aware of the amounts to pay.
In the case of Spain, the fees for buying BTC are between 4% and 10% of the amount traded. Meanwhile, the fees for selling cryptocurrencies reach up to 7% per operation.
Among the manufacturers with the most equipment installed in Spain, the most prominent are the General Bytes (41), Shitcoins Club (19), and Bitnovo (11). Regarding the operators, Shitcoins Club leads the list managing all its devices, followed by Bitbase (15), Bitnovo (11), Conquistadores (9), Kurant (5), and Iberobit (5).
The boom of ATM installation continues to boom worldwide, having reached 7,386 active Bitcoin ATMs until April. Last September 1st, the figure rose to 9,524 units, which represents an increase of 2,138 devices. This translates into an average of one installation of 14 devices everyday day, considering the new ATMs.
By Alexander Salazar
