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Spain Plans To Be A Crypto Hub, With 100 Bitcoin ATMs Set To Be Installed In 2022

Spain, will deploy 100 new Bitcoin ATMs, bringing the total number to 299 as the country strives to become a major crypto hub in Europe.

Spain is attempting to establish itself as a cryptocurrency powerhouse in Europe, and recent developments indicate that this is feasible.

Eurocoin, Europe’s top supplier of electronic components, has teamed with Bitnovo, a leading Spanish bitcoin payment platform. Before the end of the year, the agreement will see the installation of 100 cryptocurrency ATMs across the country.

With 199 Bitcoin ATMs presently operating in Spain, it is the leading country in Europe in terms of Bitcoin ATMs. In 2022, 100 more Bitcoin ATMs will be installed, bringing the total to over 300. In terms of total Bitcoin ATMs available in a country, Spain is behind the United States and Canada.

The relationship with Bitnovo, according to Eurocoin CEO Fernando Dumont, is a deliberate step into the cryptocurrency market. He stated that he believes cryptocurrency will coexist with regular payment methods.

Spain intends to become Europe’s leading bitcoin country. Following the internet outage in Kazakhstan earlier this year, which impacted Bitcoin’s hash rate, Mara Muoz, a Deputy for the Spanish Ciudadanos political party, presented a law to turn Spain into a crypto mining powerhouse.

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Since then, however, the bill has not been discussed in the Spanish parliament.

North America is the world’s leader in terms of Bitcoin ATMs. There are currently over 36,000 Bitcoin ATMs throughout the world. North America, on the other hand, is home to 94.9 percent of the world’s Bitcoin ATMs.

Europe accounts for 4% of the total, with the rest of the globe accounting for 1%. Spain has the most Bitcoin ATMs in Europe, with 199, followed by Switzerland with 142. Asia, Africa, and South America lag behind the rest of the world.