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Key facts:
In October of 2018 Spain had 57 atms across the country.Barcelona, Madrid and Malaga are the cities that have more atms of cryptocurrencies.During the last year have been installed in Spain, about 27 new atms of cryptocurrencies, for a total of 84 devices in this month of October, according to the recent data of Coin ATM Radar. This represents an increase of 47% in the number of devices from October 2018.The amount of cash available for the users of Spain comes increased gradually in 2019, taking into account that in October of last year, the country had 57 atms bitcoin, and already for the close of 2018 were accounted for 76 devices in the country.With these figures, Spain remains in the fifth position of the list of the countries with the most devices in the world. Is positioned as the third european country within the top five of this ranking, behind United Kingdom and Austria, which have 274 and 192 atms, respectively.According to Coin ATM Radar of Spain’s main cities that currently have the most atms are Barcelona, with 21; Madrid and Malaga, with 8 devices, Palma de Mallorca, with 7; Seville and Valencia with 5. We continue to Marbella, with 4, Ibiza with 3, Girona, Murcia and San Sebastián 2; while in other 17 cities accounted for a single cashier.The figures also reveal that 59% of the atms support the purchase and sale of cryptocurrencies, while about 41% only allows the purchase. Similarly, the data indicate that 73 devices allow the exchange of several cryptocurrencies, in addition to bitcoin.Most of the atms of Spain supported the sale of cryptocurrencies. Source: Coin ATM RadarAsimismo, the five companies that are leading on the commissioning of the atms are Shitcoins Club, which has 17 atms; Bitnovo, with 11; BitBase with 9; ATM Bitcoin Exchange SL, 6; and finally Iberobit, with 5.
Why should the rise of these devices?
According to a report on CryptoCoinsNews (CCN), released earlier this year, the companies of cryptocurrencies are prioritizing compliance with regulatory standards, dealing mostly with policies, know-your-customer (KYC) and anti-money laundering (AML).The information highlights that the increase in demand and the popularity reached by the teller of cryptocurrencies are consistent with the efforts of the Group of 20 (G20) to regulate the sector, with regulatory frameworks. Accordingly, the atms provide an alternative to the exchange houses of cryptocurrencies strictly regulated. This, in spite of some limitations, such as higher fees and daily limits for transactions.Also, it is worth noting the observations of Cory Capaldi, the CEO of TheCoinBros, who last September 17, he emphasized that the majority of people do not know how to work the atm or why they exist, and therefore considers it necessary to promote education on this topic.In relation to the reasons why users choose to use an atm for bitcoin, Capaldi explained that the exchange houses often have a registration process that sometimes takes up to two weeks. In addition, he recalled that in many cases must be linked to the bank account to verify the result. For these reasons, considers that there could be greater risks when storing the cryptocurrencies in exchange platforms.Regarding the high fees from atms, the CEO of TheCoinBros the justified because there are many expenses broken down into the costs of the atm. Among them, the purchase of bitcoin, the payment of licensing and a compliance officer, in addition to the payment to the employees who provide services, the rent for the location, the costs of marketing, advertising and armored vehicles.What is certain is that the atms of bitcoin have become fundamental, both in Spain as in any other place in the world, to the general adoption of the cryptocurrencies, as to offer a physical presence allow you to influence the mindset of the potential users and to position the cryptocurrencies as something tangible.