Venezuela has been characterized in recent years as a country that has seen cryptocurrency as an alternative to overcome the economic crisis that has deteriorated in recent years; in addition to exchange rate controls that submerge the power of savings and investment for most Venezuelans; This country will have its first bitcoin ATM.
The news was given in an interview with Radio Union for Cryptobuyer CEO, Jorge Faríaswho said that "We will install the first cryptocurrency ATM in Venezuela in the next two weeks."
Cashiers will be located in the city of Caracas in an alliance between Cryptobuyer and Veinte.net exchange services that are less well known in this country. Farías confirmed that the team had been physically installed and was in the final test, and would be officially announced on the two companies' social networks.
He also explained that this ATM is easier to use than the bank, you simply enter a ticket and the team gives you cryptocurrency to your digital wallet. For the CEO of Cryptobuyer, this is a very simple team that will help to understand how technology works; In the interview, Jorge Farías also commented that expansion to new locations in Venezuela would depend on several factors, such as public acceptance, business profitability and, above all, the behavior of regulatory entities. He also showed that "People ask us the possibility of at least interacting and knowing how this technology works."
It is important to remember that Venezuela has a large volume of bitcoin transactions that are proven in the local bitcoin platform to reach Second place on the platform.