Venezuela to get its first Bitcoin ATM

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.

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