The ostensible first cryptocurrency ATM machine has been installed in Uruguay, developed as a joint initiative between Urubit and Inbierto, two national crypto companies. This represents a milestone for the country, which according to estimates has between 40K and 50K cryptocurrency users, whose primary avenue for purchasing crypto relies on peer-to-peer markets.in Punta del Este, a city located in the southeast of the country.
Adolfo Varela, Inbierto’s CEO, states that one of the aims of this machine is to create trust in the cryptocurrency market in the country, where most crypto commerce happens in peer-to-peer markets that cannot go through banking due to lack of regulations. With a cryptocurrency ATM, the possibility of being victim to a scam is said to be eliminated. Varela believes they will keep growing and extending their crypto ATM network across the country.
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Congratulations more opportunities for your youths and easier purchase and sell of crypto currencies in your country.
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What is the point of a crypto ATM ? Isn’t the major point of all this to avoid cash and perform transactions via your phone? And in terms of just buying more crypto these ATMs have insane transaction fees as well a as higher cost per crypto coin than the market.
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I suppose after this crypto business will develop in the country. I greet a new country involved in the best business.
Congrats to people in Uruguay . One step closer to the future.
I hope that most countries will have one soon. Very handy device
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