A further important element was the accessibility of Bitcoin, Ethereum, Binance or other digital assets, especially the prevalence of crypto ATMs. The digital currency boom has resulted in its own ATM network. A crypto ATM is a physical device that allows people to buy cryptocurrencies with cash and their debit or credit card. Some are bi-directional and also allow for the sale of digital currencies for cash.
The U.S. scored 7.3 out of 10 in the Crypto Head ranking, mainly thanks to its dense and growing crypto ATM network. There were 17,436 crypto ATMs across the country in 2021, though that figure has nothing on the 470,000 or so conventional ATMs documented in the U.S. in 2018. It is still far ahead of second-placed Canada which can lay claim to having the first ever crypto ATM. Canada has 1,464 crypto ATMs while the UK comes third with 200.
Bitnovo, one of the top Spanish bitcoin payment platforms, has partnered with Eurocoin, Europe’s leading supplier of electronic components, is set to install 100 cryptocurrency ATMs in 2022.
Spain is the number one country in Europe when it comes to the number of Bitcoin ATMs. The new installations would also be in third place around the world (behind only the U.S. and Canada). Apart from Bitcoin, the yet-to-be-installed ATMs will support Ethereum (ETH), Tether (USDT) and Monero (XMR).
Eurocoin Group, which was founded in 1973, has offices in six European countries. CEO Fernando Dumont says most partnerships in the cryptocurrency industry are “strategic moves.” He adds that cryptocurrencies will co-exist with traditional means of payments. The vast majority of cryptocurrency ATMs are located in the U.S., Canada, and El Salvador. Spain will likely jump ahead of the Central American nation by the end of the year.
