• Thu. Dec 1st, 2022

Spain become the world’s third-largest cryptocurrency

Bywiret

Oct 23, 2022

Spain overtook El Salvador to become the world’s third-largest cryptocurrency ATM holder.

According to “Coin ATM Radar,” which provides information on the status of cryptocurrency ATMs around the world, a total of 259 cryptocurrency ATMs were installed across Spain as of the 22nd.

This is equivalent to 0.6% of the world, and it has become one of the world’s top three cryptocurrency ATMs after the United States and Canada.

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14.65% of European cryptocurrency ATMs are located in Spain. Switzerland followed with 144, Poland with 142, and Romania with 135.

El Salvador (212 units), which recognizes Bitcoin as a legal currency and encourages active use at the government level, fell to fourth place.

There are 52 cryptocurrency ATMs installed by Spain this year. It is expected to continue its expansion and operate a total of 300 units by the end of the year.

The number of cryptocurrency ATMs worldwide jumped from 10,800 as of October 1, 2020 to 28,720 in October 2021, and 38,530 as of October 1 this year.

In the past two months, seven new cryptocurrency ATMs have been installed every day around the world.

However, as the bearish market entered, the spread slowed significantly. In August last year, 2,038 units per month were added and 288 units were added in August this year. Last month, the number of units decreased by 500, showing reverse growth for the first time.

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