Spain, the first country in Europe, is about to become the third in the world for offering cryptocurrency ATMs. Coming in 2022, there are new 100 Bitcoin ATMs branded by Bitnovo and Eurocoin.
Spain on the podium as the country with the most Bitcoin ATMs
According to reports, the app that provides cryptocurrency services Bitnovo has announced its alliance with Eurocoin to install more than 100 Bitcoin and crypto ATMs in Spain, during 2022.
This puts Spain on the podium as the country with the most cryptocurrency ATMs, ranking first in Europe and third in the world.
Indeed, at the time of writing, according to Coin ATM Radar’s figures, the ranking of countries with the most Bitcoin ATMs sees the US in first place with 30,941 installations, followed by Canada with 2220, El Salvador with 205 and Spain with 199.
This would put Spain in first place in Europe for Bitcoin ATMs, followed by Switzerland, Austria and Poland, but would overtake El Salvador, placing it third in the world.
Spain: increase in crypto adoption thanks to new Bitnovo and Eurocoin ATMs
The announcement of Bitnovo and Eurocoin’s new 100 incoming Bitcoin and crypto ATMs seems to be aimed at increasing cryptocurrency adoption for Spaniards, especially the less experienced.
In this regard, Bitnovo founder Marcos Muñoz said thus:
“We are very happy with this agreement because of what it means for our company, but especially to be able to help adoption in Spain, a goal we have been working very hard on since 2015”.
The Eurocoin group is a market leader in the production and distribution of electronic components and one of the main manufacturers of ATMs in Europe, the Middle East and Africa.
The CEO of Eurocoin Spain, Fernando Dumont also left his comment on the matter:
“This is a strategic move by the company to expand our market niche from traditional and digital payment systems to blockchain and cryptocurrency ecosystems. We believe that the future of payments in all its forms will coexist with the cryptocurrency universe in the short term”.
Bitcoin and crypto ATMs: the figures for the year 2021
Only two weeks ago, at the close of the year 2021, data on the growth of Bitcoin and crypto ATMs worldwide was published.
In 2021 and worldwide, an average of 50 Bitcoin ATMs were installed per day. In the first six months of the year alone, the growth of new ATMs worldwide was 265%. In total, 14,040 Bitcoin ATMs had been installed worldwide as of 1 January 2021, which became 33,850 on 28 December, counted by default.
The factors behind the continued growth of crypto ATMs worldwide is the simplicity and security they offer compared to wallets, for transferring cryptocurrencies. In fact, many Bitcoin ATMs follow the principle of no public key management, something that often happens with online wallets.
According to a report by consultancy firm Industry Arc, the market for crypto ATMs is expected to reach $2.1 billion by 2026.