Business 4 October 2018Rebecca Asseh
Belgium, Netherlands see increasing number of crypto ATMs: study
Cryptocurrency ATMs are gaining global recognition and acceptance, with Belgium and the Netherlands also opening their arms to the crypto teller devices. Data released by Statista showed that as of August, Amsterdam is leading the race with about 12 crypto ATMs installed, while Luxembourg is lagging behind despite it being a global center of traditional finances.
Belgium has also seen a rise in crypto teller machines. As of August, Antwerp, the second most populous metro area in Belgium, has 3 crypto ATMs. The Belgian capital of Brussels and Rotterdam have two devices each. Crypto enthusiasts can purchase Bitcoin Cash (BCH), as well as BTC, ETH or LTC, using one of the machines in Brussels. Other crypto ATMs are spread across Belgian cities like Antwerp, Sint-Truiden, Ghent, and Hasselt.
The Statista study also revealed that residents in the Benelux region own less cryptocurrency as compared to other regions in Europe, noting that most of the investors in cryptocurrencies from the area are Dutch investors. According to Statista, an estimated 44,000 crypto transactions took place in the Netherlands in the first three quarters of 2017.
It’s worth noting, however, that the Statista report did not include Luxembourg, which appears not to be keen on installing the crypto teller devices. A study conducted earlier this year revealed that 92% of Luxembourg’s residents claimed they did not possess any cryptocurrency, while 6% said they had BTC, and 2% admitted they owned BCH, ETH, or XRP. Information about cryptocurrency teller machines in Luxembourg is also unavailable on the Coinatmradar database.
Belgium has been actively warning its residents against crypto scams, on the heels of the Dutch central bank’s declaration that it does not consider digital currencies to be an alternative to fiat. Regulators in the Netherlands have also stated that some crypto companies might require a license to operate in the country.
In comparison, Luxembourg has yet to decide whether it wants to fully become a crypto-friendly jurisdiction. Currently, the country is offering a licensing regime allowing companies like Bitstamp, Bitflyer and Revolut to operate across Europe.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
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