In Argentina, cryptocurrency ATMs are almost a reality
In the world of cryptocurrencies, one of the most innovative elements are its ATMs. Having the ability to buy and sell digital coins through a familiar element, such as ATMs, has been a real success in some areas of Europe and the United States where they are already enabled. In Latin America there are not so many of these ATMs, but according to the director of Athena Bitcoin for the region, this will change soon.
Matías Goldernhorn, director of Latin America at Athena Bitcoin, the ATM company in the United States, said they are looking to expand into the region. After installing some ATMs in the main cities of Colombia, their next target is Argentina, starting with their capital, Buenos Aires.
The businessman was one of the people who left Argentina between 2001-2002 due to the economic crisis that the country was going through, the time when the famous "corralito" measure was applied. Now, he puts his eyes again on the South American nation thanks to the cryptocurrencies and the new opportunities they offer.
"The ATM will be the bridge between trust and crypto money. Being a physical object that the person can see and touch is special for new users, "said Goldernhorn, according to Infobae.
Athena seeks to expand to Latin America because it is a sector where, compared to other regions of the world, cryptocurrency ATMs are almost non-existent, "In the United States there are now around 3,500 Bitcoin and cryptocurrency ATMs and in Latin America there is practically no any. That's where we saw the opportunity. "
According to the director of the company for the region, first these ATMs will be placed in the shopping centers, to measure their level of acceptance depending on social class, age and other related elements. However, the exact location of these devices is still secret.
Although in Argentina there is already one of these ATMs, it is not operational. The plan is to bring at least 12 ATMs and have them in operation by the end of August.
But Buenos Aires is not its only objective. The company will soon start negotiations in Brazil to also settle in that country and in Mexico they already have the first ATM and wait in the short term to enable more.
However, there are some challenges to achieve your goals in the region. Starting with that each country has very different visions in the regulatory field because it is a totally new world. Therefore, entering them takes time, money and energy. But "once we see how it is to enter each country, adoption is there, people are waiting for us. There is demand, "said Goldernhorn.
In Buenos Aires, the ATM company will start working only with Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC).