In Spain, the adoption of cryptocurrencies has seen remarkable growth in recent years. According to a 2024 survey by the European Central Bank (ECB), 9% of the Spanish population owns crypto assets—more than double the figure from 2022, when only 4% held them. This rise reflects a significant shift in perception and usage of cryptocurrencies in the country.
The increase in cryptocurrency adoption in Spain from 2022 to 2024 is not only evident in the number of users, but also in transaction volume and average investment per person. According to Chainalysis data, in 2024, Spain reached nearly $80 billion in cryptocurrency transaction volume, making it one of the most active European countries in this sector. This economic activity suggests a consolidation of the market and growing investor confidence.
Moreover, the average annual investment per person in crypto assets has also grown significantly. In Galicia, for example, the average investment exceeds €3,500 per year, slightly above the national average of €3,100.
This figure reflects not only greater interest in cryptocurrencies as an investment vehicle, but also the increasing financial capacity of Spanish investors to allocate resources to digital assets.
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Additionally, crypto adoption has driven the development of related infrastructure across the country. Spain now ranks third globally in the number of Bitcoin ATMs, making cryptocurrency access and usage easier for the public. This physical expansion, combined with the growth of digital platforms and related financial services, has created a more robust and accessible ecosystem for users interested in the crypto world.
Investor Profile, Regulation, and Uses of Cryptocurrencies
The profile of cryptocurrency investors in Spain is evolving. According to the ECB, young adults aged 25 to 39 are the most likely to own crypto assets, followed by the 18 to 24 age group. Additionally, a study by the Spanish Association of Fintech and Insurtech reveals that approximately 35% of Spanish investors view cryptocurrencies as a legitimate portfolio diversification method, and around 28% use them as a long-term investment.
The implementation of the Markets in Crypto-Assets Regulation (MiCA) in Europe has played a key role in increasing investor confidence. This regulation, which came into force on January 30, 2025, sets clear rules for companies managing crypto assets, protecting investors from fraud and promoting transparency. In Spain, the National Securities Market Commission (CNMV) is responsible for enforcing this regulation, which has encouraged local banks and brokers to offer crypto-related products.
According to the ECB, most Spaniards who own cryptocurrencies do so for investment purposes. 57% use them exclusively as an investment, 19% for payments, and 20% for both. This diversified use shows the growing integration of crypto assets into daily life in Spain—not just as speculative tools, but also as alternative payment methods.
A positive trend in 2025 has been the growth of platforms that simplify everyday crypto use. Companies like Bit2Me and Criptan have launched debit cards that allow users to pay with crypto assets at any business that accepts Visa or Mastercard, automatically converting cryptocurrencies to euros at the time of transaction. This has removed many technical barriers, making it as easy to buy a coffee with Bitcoin as it is with a traditional bank card.
Tourism has also emerged as one of the most dynamic sectors in adopting crypto payments in Spain. Cities like Barcelona and Málaga feature hotels, travel agencies, and restaurants that accept Bitcoin and other cryptocurrencies, attracting international visitors who prefer decentralized digital payment methods. This trend not only boosts the local economy, but also positions Spain as a crypto-friendly destination, reinforcing its image as a technologically advanced country.
The growth of crypto adoption in Spain aligns with the trend observed across the eurozone, where the percentage of citizens holding crypto assets also rose from 4% in 2022 to 9% in 2024. While Spain sits at the European average, countries like Slovenia and Greece lead with 15% and 14%, respectively. This context highlights that although Spain has made substantial progress, there is still room for growth compared to other European nations.
