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Before ATM Ever Bitcoin to open in Venezuela within 2 weeks

Jorge Farias, CEO of Cryptobuyer, a company that "helps people in countries with high levels of hyperinflation" by providing them with convenient access to encrypted ATMs, revealed that the first bitcoin ATM (BTC) arrived in Venezuela.

Farias, who is also the co-founder of PanaFintech, a Panama-based company that offers training courses on "financial innovation", said during an interview with Union Radio:

We are going to install the first cryptocurrency ATM in Venezuela over the next two weeks.

Bitcoin ATM in its "final test"

Farias also said that the Bitcoin ATM (BTM) had already been physically installed in Caracas, the capital of Venezuela. He added that the installation process was "in the final phase of the test" and his company, CryptoBuyer, announced the official launch of BTM on social networks.

Cryptobuyer has previously created five BTMs in Panama and the company serves as a merchant acceptance platform for bitcoin, litecoin (LTC) and dash (DASH) payments. As reported by CryptoGlobe in May 2018, there were 3,028 BTMs worldwide, according to the Coin ATM Radar. This number has grown considerably while the BTM monitoring website shows that there are currently 4,195 BTMs worldwide.

These BTMs are located in 76 different countries and are managed by 526 organizations. Crypto analyst, Data Light reported in December 2018 that, in 2018, 6 digital automatic currency counters per day were installed on average.

Coinme, Coinstar Partner to make the purchase of Bitcoin easier

Data Light also found that almost all BTMs support bitcoins (BTC) and more than half support litecoin. Nearly 2,000 support the native token Ethereum, ether (ETH) and many of the BTMs support bitcoin money (BCH). Monet focused on privacy as monero (XMR), dash and zcash (ZEC) are also supported by some BTMs.

As covered by CryptoGlobe, Coinme, a BTM operator based in the United States, and Coinstar, a company that manages about 20,000 self-service kiosk counters completely automated around the world, announced to work together to allow users to purchase BTC with fiat money (US DOLLAR).

Bitcoin can be purchased "from participating retailers who have Coinstar-enabled Coinstar kiosks," explains Coinme's website. However, only paper money (and not coins) can be used to buy BTC from these kiosks. Currently, Coinstar operates hundreds of kiosks in eleven US states, including Arizona, California, Colorado, Illinois, Indiana, Kansas, Louisiana, New Mexico, Texas, Utah and Washington.

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