Setting up 100 Bitcoin ATMs Throughout Spain!

By  //  February 14, 2022

Earlier, it already had a total number of 199 cryptocurrency ATMs set up at different points. Now, things are taking a turning point in the country of Spain. Before the end of 2022, the country is looking forward to setting up new hundred bitcoin ATMs all over the country.

Furthermore, a company from Spain is enabling payment platforms to partner with a leading electronic component supplier company from Europe. Both these companies look forward to getting a partnership to develop the cryptocurrency space in Spain and take over the broader range of people to use crypto.

Spain is the leading company worldwide and in Europe in terms of the cryptocurrency space. There are already about 199 bitcoin ATMs available, and still, the company looks forward to a growth number. The addition of 100 more bitcoin ATMs will lead to 300 bitcoin ATMs throughout the country. After the United States of America and Canada, it will be the third-largest bitcoin ATM available.

Therefore, it will open up substantial growth prospects to Spain as well. According to the CEO of a partner company, the partnership of both companies is going to lead towards a strategic move that will further grow the cryptocurrency space. The CEO also believes that cryptocurrencies will stay along with the traditional currency for a very long period. Therefore, allowing people to use the new payment method is one of the most important ways of developing the general masses, as per the

Earlier this month, there was a huge problem in Kazakhstan. Earlier, Kazakhstan was the best place for cryptocurrency miners because the electricity was available at cheaper rates and the internet supply was also regular. However, due to the ongoing rights, there has been a problem of internet outages in the country. It is making the whole blockchain network support.

The Bitcoin Blockchain network has faced many problems because about 18% is contributed from Kazakhstan. Because of this, many cryptocurrencies are based in Kazakhstan or not capable of getting access to the internet. In such a situation, the hash rate of bitcoin mining has decreased significantly.

Therefore, the deputy of the political party in Spain aims at making the country a cryptocurrency mining hub this year itself. Unfortunately, despite multiple proposals, the Spanish parliament has not shown any interest in developing bills related to cryptocurrency mining and trading.

Europe behind the US by Bitcoin ATMs

According to the data available on the internet, there are about 36,000 bitcoin ATMs in the whole world. We can clearly say that North America is the leader of bitcoin ATMs globally because it accounts for about 94.9% of the total number of ATMs in the whole world. There are a total of 30,835 between ATMs in the United States itself. 2226 are located in Canada, while the remaining are placed in different corners.

Europe has 4% of the total number of bitcoin ATMs worldwide. The remaining 1% is shared along with the world. In Europe, Spain now has 199 bitcoin ATMs, but Switzerland has 142. Now Spain is looking forward to adding 100, which will lead the number towards 299.

Spain has been a favourable country towards the growth of cryptocurrencies. After getting massive support from El Salvador, bitcoin became a legal tender. However, other nations are still unsure if they want to do the same. According to the reports, there is no news about other countries doing the same as El Salvador did.

They do not want to make bitcoin a legal tender because they find it very threatening to the whole global system. However, financial stability will be hindered if bitcoin is accepted as legal tender.

Even though El Salvador is working towards making stable bitcoin cryptocurrencies for the whole nation, they face problems. There has been a recent dip in the prices of bitcoins, and then, the President of El Salvador was purchasing more bitcoins. Looking at the scenario, it is entirely evident that El Salvador will never be sure if they should keep the bitcoins or sell them. It is just a matter of time before they know what decision to make.