From this Friday, October 4, Venezuela has the first atm of bitcoin (BATM) and other cryptocurrencies in the country. The device is located at the branch office of The Recreo (Caracas) of the retail chain Traki, which accepts various cryptocurrencies as a means of payment for their products.The cashier receives USD in cash to effectuate the sale of the cryptocurrencies. The device is enabled for the purchase of bitcoin and dash in a first stage, reported this Friday the team of Venezuelan Exchange (Twenty (Venezuela), a company dedicated to the market of cryptocurrencies that brought the BATM to Venezuela.Spokesmen for the company claimed to have recently received the license from the Superintendencia Nacional de Criptoactivos and Related Activities (Sunacrip), the government agency in charge of regulating the sector of cryptocurrencies in the south american country. Just waiting for that transaction to release to the public the device, they added.
This is the atm of bitcoin and dash in @TRAKIenganchate in Caracas. It is operational since this time. @Breaking News pic.twitter.com/JYMcAhYNDU— Juan Ibarra (@CriptoAlterEgo) October 4, 2019
It has been a long process, and told about it to representatives of the company in charge of the cashier, But claimed that its aim is to promote the adoption of the cryptocurrencies in the country.
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How it works the atm
For the purchase of BTC, or DASH, users must have open a wallet of any of the cryptocurrencies. When you arrive in front of the atm, the user must choose the criptomoneda which to buy, show the QR code of your address of the criptomoneda to a reader device and enter the amount of dollars that you want to change for bitcoin or dash.After the operation, the cashier shows another QR code which the person making the purchase can verify the transaction. Funds are received instantly in the direction selected by the user.In terms of the amounts of purchase, there are no limits beyond the actual liquidity of the wallet integrated to the cashier, explained the team of the company. For example, at the time of testing the device the morning of this Friday, only had availability for the purchase of dash. This issue, said a representative of Twenty Venezuela, he was already being attended to for the purchase of bitcoins will work normally.
A new option for the use of cryptocurrencies
Michael Gomez, team CriptoTraki, explained that the atm belongs to Twenty Venezuela, not the chain stores. In fact, he emphasized that the retailer only made available to the space, but all the negotiations relating to the BATM rests on the team of the startup, Twenty Venezuela.The presence of the equipment in the shop yes resolved, at the discretion of Gomez, some matters that required improvements for the payments with the cryptocurrencies in Traki. For example, referred to cases of clients who did not have the sufficient balance in their purses of cryptocurrencies to pay in the store. Those customers can now recharge their purses on the site and complete their payments with the exact amount of the purchase.The chain of stores by department receives payments cryptocurrencies through the point of sale of Pundi X, put into operation recently, in addition to using the payment gateway CryptoBuyer. The arrival of the cashier of Twenty Venezuela brings a new option to drive the market for cryptocurrencies in Venezuela, said Gómez about it.By the team of Twenty Venezuela, gave no details on steps for the future. However, claim to have expansion plans that will be announcing in their time.The chain Traki is not the only one that receives payments cryptocurrencies in the country. Among the largest, highlights the chain of pharmacies Farmarket, which incorporated points of sale allow payments with bitcoin, dash, bitcoin cash (BCH) and stablecoin DAI.
Venezuela among the leaders of the trade of bitcoins
The hyperinflation of the south american country has made venezuelans seeking to protect the value of their income. In that context, bitcoin has been one of the options privileged. In fact, the country holds the second place with the highest trading volume of BTC on the exchange platform peer-to-peer LocalBitcoins, with over 2,000 bitcoins in the past months.In February of this year, on this platform the venezuelans reached its historic maximum trade, with more than 2,400 BTC in just a week. That volume has fallen and is currently around 80% below that historic, but they maintain a leadership position ahead of the united States and China in the monthly volumes of exchange.