Annual crypto adoption development in Spain 2020-2023, by metric
Spain ranked inside the top 30 in a global ranking of 146 countries that investigated crypto adoption based on transaction volume in 2022. This is according to estimates based on web traffic toward individual websites that are used to perform cryptocurrency transactions. Spain's ranking changed notably in 2022 when the source added its findings on decentralized services together with centralized services. Not only did Spain seem to prefer Decentralized Finance (DeFi) applications over-regulated alternatives, but the centralized services also increased substantially. The source does explain why this occurred.