Spain Surpasses El Salvador In Becoming The Third Biggest Crypto ATM Hub

Cryptocurrencies have recently started getting mainstream appeal from a variety of countries internationally. Despite the many ups and downs that the market has had over the past decade, it is obvious that investors are still very optimistic about the overall success of the market.

In fact, many governments, especially those in the EU, tend to share that optimism as they are currently making strides to better accommodate them. One of the biggest contributions that many counties have started making in the wake of the crypto rise is adding various ATMs throughout the country.

These crypto ATMs make owning cryptocurrencies much more convenient, as people can easily withdraw from them whenever they need them. As cryptocurrencies continue to make it into the mainstream, people will need more of these ATMs throughout the country to make use of their investments.

For a long time, many investors did not like that their crypto investments were not useful outside of regular investments. Instead, they were assets in the most basic definition of the word. And in order to solve an issue like this countries like El Salvador and Spain have two of the largest networks of ATMs in the world.

Spain officially beats El Salvador in ATMs

El Salvador was one of the first countries to focus so heavily on crypto integration, which is why it had one of the largest networks of crypto ATMs in the world. However, Spain has recently beaten them to that title, as the European country has been able to build a network of 215 machines compared to El Salvador’s 213.

While the US and Canada are at the top of the list, El Salvador was very comfortable sitting in third place. However, Spain would eventually steal that spot with its 215 machines, pushing El Salvador to fourth place. According to findings from CoinATMRadar, Spain currently represents 0.6% of all crypto installations.

The Highest Contribution in Europe

While it might be the third largest network do crypto ATMs in the world, it is the biggest one in Europe. All of the machines that they have represented a total of 14.65% of all installations on the continent.

The only other countries that manage to get close to Spain’s machines were Romania with 135 ATMs, Poland with 142 ATMs, and Switzerland with 144 ATMs.

More Machines on the Way

It is very obvious that Spain is doubling down on its efforts to become a major crypto hub, as it has installed 43 machines this year alone. And according to official statements to government officials, they will work on installing another 100 before the year ends. With the estimated number of machines as well, the total crypto ATMs that they have will go up to 300 ATMs.