Venezuela Managed to Set up First Bitcoin ATM after Numerous Failed Attempts

By Jenny Aurora | September 16, 2019

After numerous failed attempts previously, Venezuela appeared to have rolled out its first official Bitcoin (BTC) ATM.

Reported by Coin ATM Radar, the nation’s first crypto-supported ATM was put together on September 10, and located in San Antonio del Táchira. 

Panda BTM – the company in charge of setting up the ATM – has chosen a small-scale convenient store – dubbed Viajes e Inversiones HC – in the region to be the venue of the machine. 

The ATM will provide facilitation for numerous digital coins, nominally Bitcoin (BTC), Bitcoin Cash (BCH), and DASH, together with the national currency of Venezuela and the Colombian pesos.

There were plans to set up the machine a few times in the past, but have all rendered unsuccessful. In January this year, Cryptobuyer has made public that they were installing and testing a new crypto ATM in Caracas, but nothing has been officially introduced ever since. 

The close neighbour of Venezuela – Colombia – is a nation with the highest number of crypto ATMs, compared to other countries within the Latin America region. The number is expected to incline, since a new collaboration between Paxful – a P2P Bitcoin marketplace on a worldwide scale – and CoinLogiq – a blockchain firm headquartered in Medelin – was established, that could equip Colombia with 20 more new crypto ATMs.

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