• info@parsalandco.com
  • +989124000464
  • +989127093613
  • Home
  • Startups
  • Departments
    • Application Software Department
    • Architecture Department
    • Construction Department
    • Cryptocurrency Department
    • Decoration Department
    • Digital Investment Department
    • E-Commerce Department
    • Electronic Department
    • Energy Saving Department
    • Health Department
    • IOT Department
    • Mechanical Department
  • Top Projects
    • Green Power Generator
    • Green Marketing
    • Smart Animal Husbandry
  • Blog
  • about us
    • Ethics charter
Menu
  • Home
  • Startups
  • Departments
    • Application Software Department
    • Architecture Department
    • Construction Department
    • Cryptocurrency Department
    • Decoration Department
    • Digital Investment Department
    • E-Commerce Department
    • Electronic Department
    • Energy Saving Department
    • Health Department
    • IOT Department
    • Mechanical Department
  • Top Projects
    • Green Power Generator
    • Green Marketing
    • Smart Animal Husbandry
  • Blog
  • about us
    • Ethics charter

Cryptocurrency ATM Boom Comes to Colombia

Home » Blog » Cryptocurrency ATM Boom Comes to Colombia

Intelligent Implants raises $8.7M to help you grow a spine
Intelligent Implants raises $8.7M to help you grow a spine
October 24, 2021
From $4 to Over $3.1 Million — Miner Transfers 50 ‘Sleeping Bitcoin’ After BTC Sat Idle for 11 Years
October 24, 2021
October 24, 2021
Categories
  • Blockchain
Tags
  • ATM
  • Cryptocurrency

Cryptocurrency ATM Boom Comes to Colombia

While Colombia is not a country that has embraced cryptocurrencies compared to Venezuela or some African countries, it is the country with the second most cryptocurrency ATMs in the Latam region. The reason behind this could be that Colombia has a high percentage of cash usage. This makes cryptocurrency ATMs a very important tool for adoption in the country.

Colombia, Crypto ATM Haven

There is a cryptocurrency ATM boom going on in Colombia right now, being this is the country that hosts the second-highest number of these ATMs in the region. Columbia was in first place until not so long ago, before El Salvador made its bitcoin bet and declared the leading cryptocurrency legal tender. Currently, there are 50 cryptocurrency ATMs in Colombia, but the reasons for this boom are still not clear to some.

Colombia has not been especially known for its cryptocurrency adoption, and its involvement with cryptocurrencies at a government level was limited to a regulatory sandbox that exchanges are running with banks. However, there seems to be an increasing interest by cryptocurrency ATM companies in offering their services there. This might have to do with the close proximity to Venezuela and the vibrant commercial exchange that happens between these two countries.

About this, Alejandro Beltrán, CEO of Buda, a Latam-based exchange, told Forbes:

Colombia continues to be an important crypto hub in transactionality, and as Venezuela is in the top 3 in the global adoption index, the border position makes ATM systems good alternatives for consumers.

Numbers and Explanations

The cryptocurrency ATMs are concentrated mostly in the capital of the country, Bogota, where there are 29. Six are located in Medellín, three in Bucaramanga and Pereira, with the remaining ones being scattered throughout other locations. This clearly shows that most crypto ATMs are concentrated in city areas, away from the borders. This fact seems to rule out transactionality between countries as an important driving force behind the ATM push. However, Beltran has another theory about this boom.

Colombia is one of the leading countries for cash use in the region, and these ATMs aid customers in managing and transacting funds that would be impossible to do use efficiently with the current limitations of the banking sector in the country. To conclude, Beltran stated:

We believe that this can be one of the great contributions of the sector so that the ecosystem continues to grow in a vertical way.

Source : News Bitcoin

Related post

  • Ripple pins hopes on Biden administration as co-founder sells 28.6M XRP
  • Bitcoin: Here’s why $50,000 will come sooner than expected
  • Ethereum surges to a record high of $2,000
  • Uniswap (UNI) and Compound (COMP) hit new highs as DeFi TVL reaches $27.6B
  • COTI, STASIS integrate Chainlink to bridge CeFi-DeFi
Share
3
Samin Rezaei
Samin Rezaei

Related posts

July 11, 2023


Read more
Cryptocurrency

Cryptocurrency

June 12, 2023

5 Best Altcoins to Buy in 2023


Read more
June 11, 2023

Golf House


Read more
Nano Water Chip

Nano Water Chip

April 9, 2023

Nano Water Chip


Read more

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About Us

Parsaland Trading Company with many activities in the fields of import and export, investment consulting, blockchain consulting, information technology and building construction

Departments

  • Application Software
  • Architecture
  • Construction
  • Cryptocurrency
  • Decoration
  • E-Commerce
  • Electronic
  • Energy Saving
  • Health
  • IOT
  • Mechanical

Quick Link

  • Home
  • Startups
  • Blog
  • About Us

Contact Us

  • +989124000464
  • +989127093613
  • info@parsalandco.com
  • parsalandco-company
  • parsalandco_com
  • parsalandco_com