According to Coin ATM Radar, Spain is on the list of countries with the most crypto ATMs installed. Will Spain be in a position to expand its crypto market?
Crypto ATMs take over the world
According to information collected by Coin ATM Radar, the growth in the crypto ATM facility has not had a brake since late 2015. Since then, the growth has been impressive.
In fact, their data reflects that every day 19.3 crypto ATMs are installed in the world. This metric is calculated based on the last 7 days.
As we have previously discussed in CryptoTrend, the United States is the country that currently has the most crypto ATMs in the world, with 7,321 according to Coin ATM Radar.
In this sense, in Europe there are 12.7% of all ATM Bitcoins in the world. Spain, for its part, owns 0.9% of that total and 0.3 crypto ATMs are currently being installed per day.
Therefore, in theory, every three days a new crypto ATM is installed in Spain And, when we look at Europe in general, the ratio goes up to 1.6 Bitcoin ATMs per day.
Adoption of cryptocurrencies
The installation of crypto ATMs in the world has been extraordinary, especially the speed with which it is being generated.
For its part, Spain has the highest concentration of Bitcoin ATM in Barcelona with 26. Subsequently, as expected, we have Madrid in second place with 15 Bitcoin ATM.
In this same sense, we have Malaga (10), Palma de Mallorca (10), Seville (7) and Valencia (6).
Bitcoins ATM are considered as a good measure of the adoption of cryptocurrencies in a country or in the world in general. But is it really so?
Therefore, it is worth wondering if it really reflects a higher adoption and the answer is probably closely connected to the usability of each of them.
However, if we let ourselves be carried away by the data, we can conclude that the growth in the number of crypto ATMs in the world has been extraordinary.
As of today there are 9,614 Bitcoin ATMs worldwide, according to Coin ATM Radar. Probably in a few months we will revisit this figure and the increase will have been considerable.
But it is still a negligible figure if we compare it with the total number of ATMs in the world. According to information from the World Bank, by 2018 there were 40,093 ATMs for every 100,000 adults.
Will we ever see a similar amount of Bitcoin ATM? What will have to happen to get there? Let us know in the comment box.