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Europe's Top 5 Countries for Bitcoin ATMs
We looked at our bitcoin ATM map data to see where demand for the digital currency is the highest.
Ni Tom Sharkey
This article is a continuation of our previous analysis of the most popular US states for bitcoin using data from CoinDesk's bitcoin ATM map.
As public interest in digital currencies grows, bitcoin ATMs have proven to be critical for bridging the gap between casual onlookers and active bitcoin owners.
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To identify the areas where bitcoin ATMs are particularly popular, we analyzed data from CoinDesk’s bitcoin ATM map and calculated the countries in Europe with the most machines per capita.
Of course, the term ‘popular’ is subjective by nature and there are countless ways to measure it, but for the purpose of this report, popularity is defined by the number of bitcoin ATMs per capita in each European country.
Data analysis
Our data for Europe include a total of 64 bitcoin ATMs distributed across 20 countries. The UK and Netherlands are home to more than 30% of Europe's bitcoin ATMs with 10 machines in each country.
When adjusting for each country's population, the UK ranks only eleventh most popular in Europe for the digital currency machines. Other countries with multiple bitcoin ATMs that missed the top five include the Czech Republic, ranked sixth with six ATMs; Switzerland, ranked seventh with three ATMs; and Italy, ranked 14th with four ATMs.
Here are the top five most popular European countries for bitcoin, ranked by the number of bitcoin ATMs per capita:
1. Isle of Man
One bitcoin ATM for every 87,000 people
It may not be the biggest or most populous place in Europe, but the Isle of Man is certainly leading the way in embracing bitcoin. A conference devoted to the island's booming digital currency economy is taking place this week on 17th and 18th September.
2. Slovenia
One bitcoin ATM for every 687,000 people
Home to popular exchange Bitstamp, Slovenia has welcomed bitcoin businesses – including ATMs – with open arms. Despite a population of only two million people, the country has three bitcoin ATMs on file in our records.
3. Finland
One bitcoin ATM for every 777,000 people
Finland is host to Europe's very first bitcoin ATM, which was installed in Helsinki in December of last year. Since then, six more machines have arrived, showing the Finns' demand for the digital currency.
4. Ireland
One bitcoin ATM for every 1.55 million people
Bitcoin has seen a warm reception in Ireland. The country's first bitcoin ATM went live in Dublin back in March, and one prominent figure from the Central Bank of Ireland has spoken about the country's future with bitcoin.
5. The Netherlands
One bitcoin ATM for every 1.68 million people
The Netherlands, along with the UK, is home to the most bitcoin ATMs in Europe with 10 machines. The world's first Bitcoin Boulevard also opened in Holland this year, and has attracted digital currency enthusiasts from all over.
Do you own a bitcoin ATM that you don’t think is included in CoinDesk’s records? Contact us at [email protected]
Images via Shutterstock
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