Spain to Become the Leading European Country in Virtual Currency Devices
Bitnovo, a company specialized in the buying and selling of cryptocurrencies, and Eurocoin have signed an agreement that will contribute to the growth of cryptocurrency ATM networks. The agreement will allow the installation of over 100 cryptocurrency ATMs in Spain, positioning it as the leading country in Europe.
Marcos Muñoz, founder of Bitnovo, highlights that “Since Bitnovo’s founding, 2021 has been our best year yet, and in a context of greater acceptance of crypto assets—both institutionally and among retail investors—we must continue working on education, digitalization, and innovation in the sector. It is in this environment, while banks reduce the number of ATMs due to changing customer habits, that cryptocurrency ATMs continue to grow. In fact, according to Coin ATM Radar, their number has doubled in the past year.”
Cryptocurrency ATMs allow any user to access Bitcoin and major cryptocurrencies. Unlike online purchases, these terminals enable cash transactions without the need for transfers or card usage.
This agreement will not only bring society closer to cryptocurrencies but will also position Spain as the leading European country and the third worldwide in the number of cryptocurrency ATMs, behind only the United States and Canada, Bitnovo emphasizes. Moreover, according to the latest Statista Global Consumer survey, Spain ranks second in Europe for the number of people who say they use or own cryptocurrencies.
Additionally, the company points out that its ATMs are the simplest and most secure on the market, as customers do not need to manually enter their wallet address or scan QR codes.
Through this partnership, Bitnovo will not only be one of the leading companies in the sale of physical cryptocurrency vouchers at more than 40,000 points across Europe but will also become, together with Eurocoin, a global powerhouse in cryptocurrency ATM installations, both firms explain.
According to Fernando Dumont, CEO of Eurocoin Spain: “This is a strategic move by the company to expand our market niche from traditional and digital payment systems to blockchain and cryptocurrency ecosystems. We believe that the future of payments in all its forms will coexist with the crypto universe in the short term.”
Since its founding in 1973, the Eurocoin Group has positioned itself as a market leader in the manufacturing and distribution of electronic components such as monitors, payment methods, and industrial printers, among others, as well as one of the main ATM manufacturers in Europe, the Middle East, and Africa. Currently, it operates 16 branches and logistics warehouses located in 12 European countries and Russia, along with three manufacturing plants in the UK, Germany, and Hungary. Undoubtedly, this alliance will benefit both companies, but especially Spanish and European users, who will have more options to access this new economy whose growth knows no bounds.
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