Do you want to buy or sell bitcoin? In the Canary Islands there are already six ATMs

Do you want to buy or sell bitcoin?  In the Canary Islands there are already six ATMs

Image of the cryptocurrency ATM installed in the El Muelle Shopping Center. / C7

The capital of Gran Canaria has two, one is installed in the El Muelle Shopping Center and the other in El Sebadal. Some allow operations in various cryptocurrencies. The week has been disastrous for these currencies

Silvia Fernandez

cryptocurrency fever -Although this week has been black for these virtual currencies- it is felt in the Canary Islands, with the appearance of ATMs that allow buying and selling operations.

According to portal data
Coin ATM Radar,
there are six ATMs installed on the islands of virtual currencies, two in the capital of Gran Canaria and four in Santa Cruz de Tenerife.

One of these ATMs, from the Shitcoin operatorsit's found at El Muelle Shopping Centerwhere it was installed in 2021.

Operations in various virtual currencies

This ATM allows the purchase and sale of different virtual currencies, such as
bitcoin, ethereum, litecoin and tron.

In the case of selling bitcoin, the cash withdrawal can only be made at this ATM in euros.

However, if we want to buy this virtual currency, it can be done in addition to euros in dollars, Swiss francs, pounds sterling, Hungarian forints and Romanian lei, according to the cashier himself.

The operationAccording to close sources,
is simplejust like in a traditional ATM, with the difference that these ATMs are for investment, not for depositing or withdrawing money.

Cash without bank control

The operation of buying and selling cryptocurrencies in these ATMs
it is the same as that done from the home computer, with one difference.

When doing it on the internet, it is necessary to resort to a bank transfer or card, while in these kiosks they allow you to operate in cash, only with the BTC address or a QR code.

Close sources assure that, since its installation in 2021, this ATM registers a
high movement of users who are not only tourists and cruise passengers.

"It's amazing how many people use it. There are a lot of local clients although it shocks us, ”indicate these sources.

ATMs nationwide and around the world

At the national level, according to ATM data, there are currently 228 cryptocurrency ATMs installed in Spain. Barcelona, ​​with 51, is the city with the highest number, followed by Madrid, with 36. Palma de Mallorca, with 16, is in third place.

Worldwide there are 37,405 installed and the figure is increasing, although in 2022 the rate of installation of these ATMs has slowed down.

bump that virtual currencies have suffered in recent days and that have caused hundreds of people around the world to lose thousands of euros will foreseeably discourage the proliferation of new ATMs in the short term.

The Bank of Spain warns again of the risks of cryptocurrencies

The Governor of the Bank of Spain, Pablo Hernández de Cos, insisted this week on the risks involved in investing in crypto assets, and has indicated that most of those that currently exist "cannot be associated with terms such as solidity or stability."

The European Union (EU) finalizes a regulation, known as MiCA, to regulate this type of assets.

De Cos has highlighted the rapid growth of the crypto-asset market, which in 2021 represented three trillion dollars compared to the 16,000 million it had five years before, although they still represent only 1% of global financial assets and the exposure of banks to today is limited.

Bitcoin, the best-known cryptocurrency on the market, fell sharply this week influenced by the collapse of the TerraUSD cryptocurrency. According to market data consulted by Efe, the cryptocurrency lost the $30,000 level, its lowest level since November 2020, after the stable cryptocurrency ('stablecoin') TerraUSD lost its parity with the dollar and plunged to a low of 23 cents.

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