Spain surpassed El Salvador grabbing 3rd spot in crypto ATMs
Spain surpassed El Salvador grabbing 3rd spot in crypto ATMs

Spain surpassed El Salvador grabbing 3rd spot in crypto ATMs

As of October 2022, Spain has surpassed El Salvador by becoming the third-topper country in the world, in the total number of ATMs in the country. They have counted the installed capacity of 215 cryptocurrency ATMs in their region. Spain has surpassed El Salvador with the margin of 3 ATMs in the region. El Salvador is having 212 cryptocurrency ATMs by the end of October 2022.

Spain surpassed El Salvador grabbing 3rd spot in crypto ATMs
Source : forbesindia.com

This list is the cryptocurrency ATM topped by the United States of America and then Canada at the second spot on this list. As per the latest report, this list is continued by Spain in third place and El Salvador being shifted to 4th place. In the value of numbers, Spain is having 215 currency ATMs and El Salvador is having 212 Cryptocurrency ATMs, uptill the end of October 2022. This list is followed by Switzerland, Poland, and Romania respectively in the rank of the total number of cryptocurrency ATMs in those countries.

What is El Salvador ?

The 4th ranked country on the list, El Salvador, is the smallest in Central America. The country can be measured with the scale that the country is smaller than Massachusetts city of the United States of America. This Country is also very well known for its volcanic and earthquake activities in the region. The country is a central American country that creates mediators between North American countries and South American countries. This mediation helps the country to become its hotspot for tourism for the Global population. The country is equipped with beautiful mountain ranges in the Pacific Islands. This location is helping the country in the host of cryptocurrency trade in the region.

Spain surpassed El Salvador grabbing 3rd spot in crypto ATMs
Source : britannica.com

Who is rapidly installing cryptocurrency ATMs?

These cryptoCurrency ATMs are installed on a global scale by the companies such as German electronics retailer “MediaMarkt” along with its Competitor “Confinity”. These companies are serving as a manufacturer and service sector companies for the widespread use of cryptocurrency amongst users.

How cryptocurrency ATMs are performing over time?

Globally the cryptocurrency ATM installation has been decreasing in the last 6 months validity at the end of October 2022. The reverse trend is depicted at locations that are considered tourist hotspots globally. As per one report, these cryptocurrency ATMs are becoming popular amongst scammers as they are used to Receive And withdraw refunds after wrongdoings. 

In recent times the installation of cryptocurrency ATMs has been pulled down by the fall of major cryptocurrencies like Bitcoin. This situation is a cause of concern for global cryptocurrency user’s aspirations and the future of payment decentralization in the world.