September 18, 2019

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After Multiple False Starts, Venezuela May Have Its First Bitcoin ATM



According to data by Coin ATM Radar, Venezuela has finally gotten its very first Bitcoin ATM.

Multiple attempts to install Bitcoin ATM

Venezuela’s first crypto ATM was installed on Sept. 10, in the city of San Antonio del Táchira, according to data by Coin ATM Radar, a website that facilitates the online search for the nearest Bitcoin ATM. 

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Latin American firm Panda BTM installed the Bitcoin ATM inside a small convenience store, called Viajes e Inversiones HC. The machine supports cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH), and DASH, as well as the official currency of Venezuela and Colombian pesos.

Apparently there have been previous attempts to install a Bitcoin ATM in Venezuela. At the end of January, crypto firm Cryptobuyer announced the coming installation and testing of a new Bitcoin ATM in the city of Caracas. However, due to unknown reasons the ATM never went live.

Columbia has the largest number of crypto ATMs

Neighboring Columbia currently has the most crypto ATMs of any country in Latin America. That number is set to rise thanks to a partnership between the global peer-to-peer Bitcoin marketplace, Paxful, and Medellin-based blockchain company, CoinLogiq, who are bringing 20 new crypto ATMs to Colombia.

5400+ crypto ATMs installed worldwide

The world’s first Bitcoin ATM opened in Vancouver, Canada in late 2013. Since that day, the total number of cryptocurrency ATMs around the globe has continued to increase.

According to statistics from Coin ATM Radar, the total number of crypto ATMs around the world went from 501 in 2016 to more than 5400 in 2019.





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