Spain would surpass El Salvador in the number of active Bitcoin ATMs

Key facts:
  • In Spain there are, so far, 169 bitcoin ATMs in full operation.

  • ATMs have allowed society to get closer to Bitcoin, according to Bitnovo.

The bitcoin (BTC) exchange Bitnovo, and the company Eurocoin, dedicated to the manufacture of automated teller machines (ATM), signed an agreement that contemplates the creation and distribution of 100 BTC ATMs throughout Spain.

This would make that European nation surpass El Salvador, the first country in the world to give BTC legal tender, in the number of active cryptocurrency ATMs. There will be almost 300 devices that will operate in various autonomous communities.

The information, shared in the local press, reveals that both companies have committed to contribute to the growth of ATM networks that work with cryptocurrencies.

In the words of Marcos Muñoz, who is the founder of Bitnovo, in a context in which traditional banks reduce the number of ATMs due to “changes in their customers’ habits”, cryptocurrency ATMs “keep growing”.

The company highlights that these devices, in which you can buy and sell cryptocurrencies with fiat money, have allowed a “greater rapprochement” of society with these digital assets.

In addition, “it will place Spain as the first country in Europe and third in the world with the largest number of Bitcoin ATMs in the world, only behind the United States and Canada.”

Advertising

But it already is. According to CoinATMRadar, Spain is currently the European country with the most BTC ATMs working. In detail, there are about 169 ATMs in operation. Thus, it surpasses Austria (140), Switzerland (137) and Romania (113).

Thus, and if the installation is completed, Spain will have 269 bitcoin ATMs. It will be a big difference when compared to El Salvador, a country where 205 ATMs are operating.

It is not known when the ATMs will be activated. CriptoNoticias requested information from both companies and this article will be updated when a response is received.

BitNovo ATMs have been operating in several places in Spain for some time / Source: BitNovo.

“The simplest and safest on the market”

Regarding the operation, the exchange highlights that the ATMs are “the simplest and safest on the market”, since the client will not have to write the address of his wallet or scan a QR code. Both firms point out that, with this launch, they will become a “world power in the installation of cryptocurrency ATMs”.

For the CEO of Eurocoin Spain, Fernando Dumont, the arrival of more Bitcoin ATMs in that country is a strategic movement that has the purpose of expanding its 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 universe of cryptocurrencies in the short term,” said the specialist, who highlights the company’s presence in several countries in Europe, the Middle East and Africa. “Undoubtedly, this alliance will benefit both companies, but above all Spanish and European users who will have more and more options to access this new economy whose growth has no limits,” he said.

Bitcoin ATMs quadrupled

That they want to install more Bitcoin ATMs in Spain was foreseeable, especially if one takes into account that the number of these devices quadrupled during 2021, compared to 2020.

This was reported in CriptoNoticias, when we reported that, according to ATM Radar figures, the total number of ATMs installed until September was just over 27,800, four times more than what was seen about 12 months earlier.

Spain is one of the countries in the world with the largest number of active Bitcoin ATMs / Source: CoinATMRadar.

More precisely in Spain, the situation is not different. Several companies related to Bitcoin have decided to dabble with ATMs. This is the case of BitBase, which has more than 60 ATMs distributed throughout Spain, where various digital assets can be traded.

Although the rise of these ATMs has brought with it promotions of more regulations for alleged crimes, it is a fact that they are here to stay, contributing to a clear expansion of the market that, apparently, has a whole market niche to exploit in Spain.

Source link

About Admin

Check Also

Funny people are smarter than everyone else, says science

Having fun on demand is not so easy. You may be funny when you’re with …

Leave a Reply

Your email address will not be published. Required fields are marked *