Venezuela has shown the real use case Bitcoin. People of Venezuela are transacting and storing Bitcoins, as the citizens lose their faith in their leader, their banking system and their currency. But with such a demand for Bitcoins, Venezuela lacked a Bitcoin ATM. But that is soon about to change.
CryptoBuyer, a cryptocurrency ATM manufacturer, is planning to install the countries first Bitcoin ATM. The news was announced by the company’s CEO Jorge Farias on a Union Radio podcast. The ATM will be installed in Caracas and will be opened in the next two weeks.
“We are going to install the first cryptocurrency ATM in Venezuela, in the course of the next two weeks (…), we already have the equipment physically installed in Venezuela, in Caracas and they are in their final tests and we will be announcing them in social networks “, Jorge Farias said.
The ATMs will receive cash money from the user and then they will transfer the value of that cash to the crypto wallet of the customer instantly which they can also do through their bitcoin system login. Cryptobuyer will also be taking up the task of teaching the Venezuelan public more about Bitcoins and how to operate a Bitcoin ATM.
“These tools are much easier to use than regular ATMs”, noted the CEO.
Venezuela is not the only country to show a progressive attitude towards bitcoin payments. As Coincierge explains, Germany is also leading the way with the bitcoin revolution.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
