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Adoption of Bitcoin: Spain overtakes El Salvador?

Spain, new leader in Europe – Will Bitcoin ATMs soon outnumber their banking ancestors? It is a crypto-utopia that is not yet on the agenda. There is still a long way to go before such mass adoption. However, Spain is advancing strongly in this direction, exceeding same El Salvador, land of bitcoin, on this metric. Here are all the details!

Spain: Bitcoin’s figurehead in Europe

ATM… No! It is not an abbreviation of “At The Moment” of our English neighbours, but many“Automated Teller Machine”. Or put more simply, a vending machine. But in this case, no banknote in these machines, but the possibility of obtaining bitcoins. Terminals that are multiplying around the world, more or less rapidly, depending on the country.

However, on the subject, theSpain is no exception. She is the third country number of devices installed (215 counters) and the leader in Europe. With 0.6% of the world supply, it is however far behind Canada (2,545 units; 6.6%) and the United States, great leader (33,793 units; 87.5%). As such, theSpain just exceed with a short head El Salvador and its 212 units, according to the data from CoinATMRadar.

Distribution of the number of Bitcoin ATMs in the world – Source: CoinATMRadar

In 2022, Spain installed 43 new Bitcoin ATMs. It plans to exceed 100 units by the end of the year to bring its total beyond 300. Spain’s performance is all the more significant given that in this lean period for the crypto market , bearmarket obliges, theinstallation of new distributors of cryptos has rather experienced a slowdown this year.

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In France, we are still looking for the crypto hub

Europe, meanwhile, shares 3.8% of the supply, or a total of 1,467 Bitcoin ATMs at present. behind theSpain, the good students are Switzerland (144), Poland (142), Romania (135) and Austria (132). These installations are the work of MediaMarkt, a German retail chain specializing in electronics. It has partnered with the Austrian broker Coininfinity.

Spain is developing its Bitcoin ATM network and ridiculing France with its 6 ATMs on its territory.
In Spain, the number of ATMs jumped despite the bear market, an increase against the trend

The Francemeanwhile, with its 6 Bitcoin ATMs who fight a duel, is almost ridiculous. As we know that 8% of French people hold cryptocurrencies, the gap between the enthusiasm of the population and the available infrastructure is enormous. It is easy to imagine that the room for improvement in terms of facilitating access to cryptocurrencies in our old country of bread and cheese remains enormous. But for that, a change of mentalities, at the political level to start, is necessary.

Allowing everyone to dispose of their money, the fruit of their daily work, as they wish, should be a fundamental and inalienable right. In this sense, this can be done through the multiplication of Bitcoin ATMs across its country, with Spain showing the example, even if it remains derisory compared to our neighbors across the Atlantic. The Francemeanwhile, still has a long way to goand this, despite the speeches of our politicians who have recently supported their ambitions to make France the “European crypto-asset hub”. The lyrics may be there, but not actions.

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John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

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