If you are going to get money at the ATM from your shopping center, it is possible that next to your bank’s machine you have noticed that a new and modern one that seems more like a large computer to accompany the most conventional. On its big screen: “Bitcoin available here” and a poster next door: “Sure. Simple. Fast”. Indeed, it is an automatic cryptocurrency cashier, a growing phenomenon in recent years.
Spain is the fourth country with more cryptocaurers worldwidewith a total of 314, according to Coin Atm Radar data. The first place is worldwide is occupied by the United States, with almost 30,000 cashiers dispensers of this virtual currency. Second is Canada, with 3,477 euros and third, ahead of our country, Australia, with 1,483 ATMs.
But what exactly are this type of ATMs and how does it work? It is a device that allows you to physically buy different cryptocurrencies with cash. The vending machine is connected to a bag that executes the order and in the case of wanting to get money, the cryptocurrency is selected that you want to “send” and in just a few minutes the money is available.
Although the most common, according to Ariel Eder, director of operations of Kurant Spain, leader of the European market, is to use this type of machines to invest. “80% of the operations are intended for the purchase of cryptocurrencies,” he says, although his presence in shopping centers is more intended for people who want to get money to make shopping in store, but both options are available.
And it is that the location of this type of vending machines is studied. In addition to shopping centers, where it is more common to see them, they are also in premises of Gold purchase and sale, bike stores, mechanical workshops or technological centers.
As in the rest of the countries, growth in Spain is constant. The first machine was installed in 2014 and, ten years later, in 2024, the figure has shot up to 284 ATMs of this type. So far this year, the number is still increasing with about thirty more cryptocaurers, and rising.
Its extension has also made more limits establish. Until only a few months ago it could be operated without identification and there was no money limit. Now, both for purchase or sale of cryptocurrencies The limit is at 995 euros per day, according to Eder.
With a mainly masculine target and over 35 yearsthe use of this type of devices is to take advantage of extra income for your investment and, although it is much more common to perform online operations, there are those who feel more comfortable handling cash. “In the north, for example, in Galicia, there are many who own business, have additional income and want to invest in cryptocurrencies,” he says.
What is clear is that the growth of cryptocurrencies does not stop and the ATMs will continue to fill each point in Spain -and out.
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