Spain becomes third-largest crypto ATM nation

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Updated October 24, 2022 | Published October 24, 2022

2 mins read

Spain has overtaken El Salvador in terms of total ATMs installed in the country, according to new data by CoinATMRadar.

Spain has officially become the nation with the third highest number of crypto ATMs in the world.

The country is behind only the US and Canada, and has been able to dethrone El Salvador, who is all in on Bitcoin (BTC).

Spain currently has 215 crypto ATMs installed across its territory, almost neck-and-neck with El Salvador, which seems to have 212 cryptocurrencies.

The data is provided by CoinATMRadar, which is tracking the spread of cryptocurrency ATMs worldwide.

Other countries that are unlikely contenders include Romania with 135 such ATMs, Poland with 142 ATMs and Switzerland with 144 ATMs.

Spain has been demonstrating a clear commitment to the sector installing 43 new crypto ATMs this year alone.

It hopes to bring the total number to 300 before the year is out. However, just because Spain is going heavy on ATM installations doesn’t mean that everyone is.

In fact, the total number of crypto ATM installations worldwide has dropped, in line with the unfolding cryptocurrency winter.

European nations are fast adopters and they have not shied away from bringing cryptocurrencies into physical spaces.

The Federal Bureau of Investigation in the US warned that scammers are increasingly stepping into the physical space and asking people to use crypto ATMs.

One of the most popular scams that is being conducted through crypto ATMs is the “pig butchering scams” whereby romantic partners are told to continue depositing money.

Crypto ATMs are not an oddity anymore, and as institutions and consumers are adopting crypto, the ATMs are a natural continuation of this trend.

Despite the slowdown in installations, these machines are likely to proliferate in the coming years.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.
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