Spain Leapfrogs El Salvador into Third Place as Top Crypto ATM Nation

Spain has pushed El Salvador into fourth position and taken the third position as the country with the biggest number of cryptocurrency ATMs. At the moment, Spain has 215 ATMs while El Salvador has 212 ATMs as of the latest count.

Globally, Spain now commands a 0.6% share of all the capacity of installed crypto ATMs, but it is the top nation in Europe with 14.6% of all the crypto ATMs installed on the continent. Switzerland comes in second with 144 ATMs, Poland is third in Europe with 142 ATMs while Romania takes fourth place with a tally of 135 ATMs.

This year alone, Spain has installed a total of 43 ATMs, but the country revealed an ambition plan to install at least 100 ATMs before the year ends. If the country succeeds in completing those installations, the nation’s total will shoot up to 300 machines.

In contrast to the strides made in Spain to increase crypto ATM coverage, the worldwide trend of installations went into reverse gear. Currently, available statistics indicate that a minimum of seven ATMs are installed around the world every single day. This is slower than previous daily averages, although recent data shows that the installations are picking up following the beating resulting from the crypto winter.

Greece is in number six position globally in terms of the highest number of installed ATMs for cryptos. Dimitrios Tsangalidis, cofounder and managing director of BCash, a company that manages crypto ATMs in Greece, revealed that it is surprised to discover that while its ATMs exist in locations frequented by tourists, usage data shows that the most use is noticed within the city areas rather than the tourist destinations. The exception is Crete, an island that sees enthusiastic crypto ATM use.

Tsangalidis believes that the slump in crypto prices in recent months, together with the end of the peak tourist season, have collectively contributed to the slowdown in the use of these ATMs in Crete, whose economy is significantly boosted by tourist activity.

As more people embrace cryptocurrencies and express interest in the services offered by different blockchain industry companies, such as Bit Mining Ltd. (NYSE: BTCM), there is a strong possibility that the number of ATMs installed for use by crypto wallet owners will keep increasing around the world and the top-10 list will keep seeing new entrants and displacements within those that have been dominating in terms of highest number of installed ATMs.

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