As per the latest report by Reuters, Argentina could get around 30 automated teller machines as soon as by the end of the year. Because of the demand in South America, concern department planning to install the cryptocurrency ATMs across the country. The first Bitcoin ATM was installed by the US specialized ATM company, Athena Bitcoin in the country’s capital Buenos Aires shopping mall. Currently, there are two bitcoin ATMs in the capital of Argentina.
According to the Coin ATM Radar, the first ATm was activated on September 18, and the second ATM has activated recently on October 3.
“With currency devaluations, we have seen a spike in bitcoin transactions. We see that as a safeguard to [Argentinian Peso’s] value, as well as an opportunity to invest in the market,” Dante Galeazzi, Argentina operations manager for Athena Bitcoin told Reuters.
Bitcoin ATMs allow the customers to buy and sell digital currencies. Those two existed Argentina bitcoin ATMs could get the access to buy and sell bitcoin cash, ethereum, and litecoin in the future.
US-based Odyssey Group, which is also not be restricted to the buying and selling of digital currencies but will offer other services associated with regular ATMs, such as withdrawing and depositing cash as well as money transfers between accounts.
The U.S. firm is planning on installing 150 crypto ATMs in Argentina before the close of next year, with 80 percent of them being cryptocurrency-operational in the course of the first few months of 2019.
Apart from Argentina, Mexico has 11 ATMs at present. Also, Brazil and Chile currently with two bitcoin ATMs each. Athena Bitcoin intends to set up even more on these locations soon.