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Venezuela sees its first Bitcoin ATM

Photo provided by PandaBTM

September 16, 2019

A Bitcoin ATM has finally found its way to Venezuela.

Latin American firm PandaBTM installed a crypto ATM in San Antonio del Táchira on Sept. 10, according to Coin ATM Radar, a website that tracks Bitcoin ATMs.

Located inside a small convenience store, called Viajes e Inversiones HC, the machine supports bitcoin, bitcoin cash and dash, as well as Venezuelan bolivars and Colombian pesos. Residents of the border community use both currencies freely. 

Although a small town with a population of around 61,000, the busy border town of San Antonio del Táchira sees heavy foot traffic as it connects the cities of Cúcuta, Colombia, and San Cristóbal, Venezuela, serving as an important gateway between the two nations. 

Previously, anyone in Venezuala who wanted access to a Bitcoin ATM had to head over to the Colombian side of the border. Columbia is a hotspot for the machines with 48 locations, more than another other Latin American country.  

More Bitcoin ATMs will be arriving to Columbia soon. On Sept. 5, Bitcoin marketplace Paxful, and Medellín-based blockchain company CoinLogiq announced they were joining forces to bring as many as 20 additional kiosks to the region.