The country overtakes El Salvador to get third largest crypto ATM hub

The Ecu country of The country is formally the place to find the 3rd-largest network of Bitcoin (BTC) and cryptocurrency ATMs following the U . s . States and Canada. 

The country presently hosts 215 crypto ATMs, pushing El Salvador — wi 212 crypto ATMs — lower towards the 4th position after surpassing the nation by 3 crypto ATMs. Data from CoinATMRadar confirms that The country represents .6% from the global crypto ATM installations.

Crypto ATM distribution by continents and countries. Source: CoinATMRadar

Furthermore, the thought places The country because the greatest cause of crypto ATMs in Europe, addressing 14.65% of total installations within the continent, adopted by Europe (144 ATMs), Belgium (142 ATMs) and Romania (135 ATMs).

Crypto ATM installation development in The country. Source: CoinATMRadar

In 2022 alone, The country installed 43 crypto ATMs and it has formerly shared its intent to set up as many as over 100 ATMs through the finish of the season — taking on the entire to almost 300 crypto ATMs once completed.

MediaMarkt, a German electronics store, and Confinity, amongst others, are leading the drive to set up crypto ATMs across Austria, Germany, The country and A holiday in greece.

On the other hand, global crypto ATM installations saw an adverse growth since September 2022 and therefore are on the way of slow recovery during the time of writing. Calculations according to data in the last two months reveal that around seven crypto ATMs are now being installed daily worldwide.

Related: Crypto ATMs proving itself to be popular way of crypto scam payments — FBI

A holiday in greece takes the sixth place when it comes to cryptocurrency ATMs, along with the increase of vacationers, Bitcoin ATM operator BCash shared insights around the usage statistics in the united states.

Talking with Cointelegraph, BCash md and co-founder, Dimitrios Tsangalidis, says despite installing crypto ATMs in tourist hotspots, most usage originates from the primary city area.

However, the area of The island attracts a “very loyal cryptocurrency crowd,” as described by Tsangalidis:

“There is really a strong crypto community in Heraklion of The island [that is] the place of our ATMs.”

Based on Tsangalidis, a mix of crypto winter and tourist seasons has led to a slowdown when it comes to regular traffic in crypto ATM usage.

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