- Bitcoin ATMs are playing vital role in awareness towards the cryptocurrencies and helping them in being normalize
- Currently there are total 33,896 Bitcoin ATMs all over the world
- In Spain, there are already 168 Bitcoin ATMs installed already, 100 more ATMs are planned for 2022
With the rise in popularity of Cryptocurrencies around the world, its acceptance and normalization is getting better. Installation of dedicated ATMs for cryptocurrencies, Bitcoin Atms, can play an important role. ATMs we generally use for withdrawal and sometimes depositing money. It’s already habitual for people to use ATMs. Bitcoin ATMs are yet another approach towards making exchange of cryptocurrencies and cash easy and less complicated. They are getting high in number with time.
Bitcoin ATMs in Spain –
Now Spain is looking forward to installing 100 Bitcoin ATMs inside the country in the year 2022. Just take a note, Spain already has 168 ATMs installed and working in the country. This project of setting up Bitcoin ATMs in Spain will be done by the partnership of two companies. One is Bitnovo, a Bitcoin payment company of Spain and another is Eurocoin, a famous electronic components company of Europe. Spain would be at first spot in terms of Bitcoin ATMs in Europe and will be at third position, after the US and Canada, all over the world after the installation of ATMs.
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Bitcoin ATMs work in terms of exchanging cash for cryptocurrencies and in some cases it can exchange crypto assets for cash as well. In Bitcoin ATM, it supports cryptocurrencies other than Bitcoin too like Ethereum, Tether, Monero, etc. Currently all over the world 33,896 ATMs have already been installed out of which almost 90% are only in the US. World’s first country to accept Bitcoin as Legal Tender, El Salvador has 200 Bitcoin ATMs.
Bitcoin ATM Fees
The transaction fees is an issue from always when it comes to cryptocurrencies. However Bitcoin ATMs are also going to be charged a service fee for using it. Rather than a fixed value, the fees would be charged in percentage of transaction. But research by some institutes assumed that Bitcoin ATMs fees can be very high. Not only this, the exchange rates may also be the same as anyone could find other than Bitcoin ATMs. However, it doesn’t matter if it would be charging the same transaction fees, taking in consideration the facilities it brings with itself.