This is the first ATM in Latin America from the company BitBase, which plans to arrive later in Venezuela.
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The Bitcoin ATM starts operating on July 18 in Asuncion, in front of CC Shopping Mariscal. BitBase continues its international expansion in the cryptocurrency space, opening its first physical store in the LATAM region of Paraguay. The platform is about to reach 100 cashiers.
Almost all the cryptos in the market
BitBase is a well-known Spanish platform that buys and sells cryptocurrencies and wants to conquer the Latin American market.
The ATM will allow interested parties to buy and sell bitcoin and other cryptos using cash (dollars or guaraníes), bank transfers or credit cards. The company claims that it will have “almost all the cryptocurrencies in the market“, unlike ATMs that only have a few units.
The machine will be located inside Paraguay’s first physical store dedicated to the commercialization of cryptocurrencies, which will provide advice to interested people.
There we will advise all those people who, to date, have not yet entered the sector, have doubts or need to be advised by a physical person before entering the sector. I think it is important for the adoption of this additional service that we offer beyond the ATM facility, commented BitBase.
Until now, the only bitcoin ATM in Paraguay was located in the Xtra24/7 supermarket in Asunción, according to CoinATMRadar. The other one comes from the company Counter Commerce. For Bitbase, it all started in a small store in Barcelona.
Five years later, it is the largest crypto-company in Spain. Thanks to BitBase, Spain is the country with the most digital currency distributors in Europe. With a big difference from the second (Switzerland).
Very soon in Venezuela
Bitbase also announces that it will install more in the country by 2022.
BitBase is in talks with government authorities, private companies and banks. Carrying out the operation of installing its equipment and stores in Venezuela.
Indeed, Alex Fernandez, CEO and founder of BitBase, described that one of BitBase’s main goals in 2022 was to go beyond the Spanish borders and start opening stores abroad, and they’re getting there!
Thus, they indicated that they hope that with the opening of Paraguay, they will be able to “accelerate the processes in Venezuela”.
In this regard, Enrique De Los Reyes, representative of BitBase, emphasized:
In Venezuela, the glass is always half full. I have always had an eye on Venezuela. But this year, as we have witnessed the economic boom, we have seen that our future is here.
With its arrival in Paraguay, BitBase now has 30 stores and nearly 100 ATMs in Spain and Portugal, including those operating as franchises.
The move is a testament to the growth of bitcoin ATMs, which already exceed 38,000 worldwide, according to CoinATMRadar’s records, with the United States, Canada and Spain having the most.