There are 169 operational Bitcoin ATMs in Spain, surpassing countries like Austria, Switzerland, and Romania. Those devices have contributed to bringing society closer to crypto-assets, according to the founder of Bitnovo.
Installing 100 Bitcoin automatic teller machines (ATMs) will allow Spain to have more active devices than El Salvador. They will have nearly 300 ATMs that will operate in several autonomous communities.
Marcos Muñoz, the founder of Bitnovo, said that this would contribute to the growth of ATM networks working with cryptocurrencies. He stated that cryptocurrency ATMs do not stop growing, while traditional banks reduce their numbers.
The executive highlighted that those devices, which allow trading cryptocurrencies with fiat money, have brought society closer to those assets. He also commented that this would place Spain as the third country with the highest number of Bitcoin ATMs, following the United States and Canada.
Data from CoinATMRadar indicates that Spain is the European country with the most Bitcoin ATMs in operation. There are about 169 active ATMs, thus surpassing Austria (140), Switzerland (137), and Romania (113).
When the above installation is complete, Spain will have 269 Bitcoin ATMs in operation. That would be a significant difference compared to El Salvador, where 205 ATMs operate. However, nobody knows yet when all the ATMs will be active.
Bitcoin ATMs Offer More Options to Access This New Economy
The CEO of Eurocoin Spain, Fernando Dumont, considers that the new Bitcoin ATMs will help expand that market. They would allow going from traditional and digital payment systems to blockchain and cryptocurrency ecosystems.
The specialist believes that the future of all forms of payments will coexist with the cryptocurrency universe. He said that installing more ATMs will help all Spanish users have many options to access this new growing economy.
Bitcoin ATMs Quadrupled in 2021 and Will Continue Growing
Analysts had already predicted the installation of new ATMs in Spain, considering their number increased four times in 2021.
Data from CoinATMRadar reveals that the number of ATMs installed until September was just over 27,800. That figure is four times higher than what was available about twelve months earlier.
The situation is not different in Spain, where several companies related to Bitcoin have decided to venture into ATMs. For example, cryptocurrency exchange BitBase has distributed more than 60 cryptocurrency ATMs throughout Spain.
The rise in those ATMs has led to more regulations for alleged crimes. However, they are here to stay, contributing to expanding the cryptocurrency market, which has a niche market to exploit in Spain.
Bitcoin and other cryptocurrencies have become increasingly relevant in the economic system of many countries. For that reason, the installation of new ATMs represents an opportunity for many users that want to trade those assets with fiat money.
The pioneering cryptocurrency is currently trading at around USD 43,102 and has accumulated a profit of 0.4% in the last seven days. Its daily trading volume is above USD 14.35 billion, and its market capitalization is about USD 815.95 billion, according to CoinGecko.
By Alexander Salazar
