By George Ward
With the recent bear season in crypto, many believe that the development of the industry has dropped. But cryptocurrency ATMs indicate progress in cryptocurrency adoption in a particular region.
Lovers of the crypto market want these ATMs to be used daily. Hence, recent data shows that Spain is massively increasing its installation of crypto ATMs.
The European country ranks 3rd with the highest number of crypto ATMs. The top two are the United States of America and Canada, respectively.
The United States of America has made massive progress in installing Cryptocurrency ATMs in the country. Currently, 45 of 59 states have crypto ATMs as of March 2021, with Dogecoin ATMs numbering about 18,000.
El Salvador lost the third position to Spain and is now in fourth. According to a recent report, Spain has up to 215 ATMs installed this month, which is about 0.6% of the global figures.
By comparison, El Salvador has 212 crypto ATMs installed across the country. Recall that the government of El Salvador approved Bitcoin as a legal tender for its citizens.
Spain’s new position in the global ranking places the country at the top of the European continent regarding cryptocurrency ATMs. The number makes up about 14.65% of the number of crypto ATMs in Europe.
Crypto ATMs Data Within Europe
Spain is at the top in Europe’s ranking of nations with the highest number of crypto ATMs. Switzerland follows it with 144 crypto ATMs installed across the country. Then, both are followed by Poland and Romania, with 143 and 135 ATMs, respectively.
Meanwhile, other European countries are progressing in terms of the number of cryptocurrency ATMs. Last year, Spain, Germany, Austria, and Greece partnered with top crypto platforms to boost the installation of crypto ATMs in their jurisdiction.
Spain also worked with an electronic company to have over 100 crypto ATMs within a year. This year, the country has already witnessed the installation of 43 crypto ATMs.
Crypto ATMs are essential for crypto adoption in any country. Therefore, a considerable increase should be expected in many countries, particularly outside Europe, like Japan.