First Bitcoin ATM in Venezuela | Bitcointalksearch.org

Vishnu.Reang

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Quote from: AmoreJaz on September 07, 2020, 07:41:06 PM

and after more than a year the OP posted this thread, the number of bitcoin ATM in Venezuela is still 1. very very slow progress here. wonder if the first one really gained local support from their crypto users?
because if it did attract interest, second or third ATM should already be installed.

https://coinatmradar.com/country/231/bitcoin-atm-venezuela/

Given the current economic situation in Venezuela, you should not expect much. But in my opinion, the number doesn't matter. It is clear that the government is tolerating the use of cryptocurrency in its jurisdiction. This is much better than the situation in my country. Here the last time someone tried to install a Bitcoin ATM, the owner was arrested and the equipment was confiscated.

verita1

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Thank you for the good wishes to the Venezuelans for the installation of the Bitcoin ATM. I was investigating and there are three Bitcoin ATMs installed in Caracas, the capital of Venezuela.
The first was installed in a department store called Traki to buy Bitcoin and Dash.
The second ATM was installed in the Eurobuilding Hotel with the same characteristics.
The third ATM was installed at the Hotel Tamanaco to buy and sell cryptocurrencies such as Bitcoin, Dash and Litecoin.
It should also be noted that the Eurobuilding Hotel began receiving payments with bitcoin, litecoin, ether, Dash, Binance coin and the stablecoin tether at its headquarters located in Caracas as a project pilot to know the acceptance of its clients by the new means of payment and implement it in all the other locations of the Hotel in the country.

https://coinatmradar.com/bitcoin_atm/9891/bitcoin-atm-lamassu-caracas-traki-store/

https://es.cointelegraph.com/news/a-new-crypto-machine-will-be-installed-in-caracas-this-time-it-will-be-used-to-buy-and-sell- using-dollars

AmoreJaz

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Quote from: Renampun on September 07, 2020, 10:31:12 AM

this is good news, though I hear Venezuela is currently experiencing a crisis...

Quote from: Tamim121 on September 07, 2020, 09:47:56 AM

I think this is a cool news to us. Btc is the most potential coin and because of digital currency this is so much easy to transaction it. I think in future majority country should legal Bitcoin.

I hope Bitcoin can help a few Bitcoin lovers in Venezuela and of course hope that Bitcoin ATMs can spread all over the world.

and after more than a year the OP posted this thread, the number of bitcoin ATM in Venezuela is still 1. very very slow progress here. wonder if the first one really gained local support from their crypto users?
because if it did attract interest, second or third ATM should already be installed.

https://coinatmradar.com/country/231/bitcoin-atm-venezuela/

KimberlyCon

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This is awesome, I also have one in my country but this is being traced by the government so it's not really safe to use unless you report your income, expenses, etc

Renampun

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this is good news, though I hear Venezuela is currently experiencing a crisis...

Quote from: Tamim121 on September 07, 2020, 09:47:56 AM

I think this is a cool news to us. Btc is the most potential coin and because of digital currency this is so much easy to transaction it. I think in future majority country should legal Bitcoin.

I hope Bitcoin can help a few Bitcoin lovers in Venezuela and of course hope that Bitcoin ATMs can spread all over the world.

yulchatar

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This is great as the adoption and propagation of cryptocurrency is growing. According to the latest data, about 5 thousand ATMs have already been installed in the world, and today there may be even more of them. This is good news for crypto enthusiasts.

Tamim121

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I think this is a cool news to us. Btc is the most potential coin and because of digital currency this is so much easy to transaction it. I think in future majority country should legal Bitcoin.

Question123

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Im really happy to them because they have already bitcoin atm which is really helpful for them to buy and sell bitcoin or making transaction it. Hoping more bitcoin atm will be there in the next few months so many people will curious and high possibility for them to invesy also maybe in the future.

Philippines is my country and we have few bitcoin atm and for sure in the next few years there is a lot of atm here will have.

bryant.coleman

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Quote from: jakoylantern on October 23, 2019, 01:43:09 PM

I agree it should be a celebration for the whole community of bitcoin. But even this happens I hope Venezuela regain their financial crisis. I'm happy that they adopt bitcoin, and like you said that they tend to believe in bitcoin. But unhappy on the other side that Venezuela must face the financial crisis before they grasp bitcoin to secure their economy.

I don't understand all the fuss. Bitcoin ATMs operate all around the world. What is so special about this ATM in Venezuela? To be honest, I am not very happy with the Venezuelan regime's soft stand on Bitcoin. As you may be aware of, Venezuela is currently under United States sanctions. If the US government suspect that the regime is using Bitcoin to circumvent the sanctions, then they will adopt measures which can have a negative impact for the cryptocurrency market.

jakoylantern

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Quote from: JC btc on October 23, 2019, 11:50:36 AM

Quote from: SummerBliss on October 23, 2019, 10:25:22 AM

Its great news for the community as a whole because this is the first step for mass adoption of these digital coins and many more ATMs will be opened soon.Bitcoin hepled Venezuela to rise out of economic crisis by boosting its economy and now its heping people living there by providing crypto related services to them.Its good when you can conevert you btc into fiat with the help of atm cards at your convience.But the withdrawl fees will be high which can be a major issue for them but still its good news.

This should be a celebration not only in Venezuela but to the whole community of Bitcoin believers, as we are in adoption period by some countries, although Venezuela is not that rich country and is facing a financial crisis at the moment, still they tend to believe in Btc and trying to find ways for their country to recover, thumbs up to them.

I agree it should be a celebration for the whole community of bitcoin. But even this happens I hope Venezuela regain their financial crisis. I'm happy that they adopt bitcoin, and like you said that they tend to believe in bitcoin. But unhappy on the other side that Venezuela must face the financial crisis before they grasp bitcoin to secure their economy.

TrevorS

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how is the situation in that country, have many started using bitcoin ATM for transactions? because I'm not from there so I don't know how the development of bitcoin ATM in that country, while for my country also already has a bitcoin ATM but not everyone uses it, there are still many who use local money rather than transactions using bitcoin.

I believe that bitcoin ATMs in Venezuela and the rest of the world are a very useful thing for the future development of blockchain and cryptocurrencies in the world.
Indeed, even if now people do not have enough funds to use cryptocurrencies in the future, the situation may change, and in this case we should already have a developed infrastructure that allows all people in a wide range of countries to easily exchange and withdraw cryptocurrencies.

JC btc

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Quote from: SummerBliss on October 23, 2019, 10:25:22 AM

Its great news for the community as a whole because this is the first step for mass adoption of these digital coins and many more ATMs will be opened soon.Bitcoin hepled Venezuela to rise out of economic crisis by boosting its economy and now its heping people living there by providing crypto related services to them.Its good when you can conevert you btc into fiat with the help of atm cards at your convience.But the withdrawl fees will be high which can be a major issue for them but still its good news.

This should be a celebration not only in Venezuela but to the whole community of Bitcoin believers, as we are in adoption period by some countries, although Venezuela is not that rich country and is facing a financial crisis at the moment, still they tend to believe in Btc and trying to find ways for their country to recover, thumbs up to them.

SummerBliss

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Its great news for the community as a whole because this is the first step for mass adoption of these digital coins and many more ATMs will be opened soon.Bitcoin hepled Venezuela to rise out of economic crisis by boosting its economy and now its heping people living there by providing crypto related services to them.Its good when you can conevert you btc into fiat with the help of atm cards at your convience.But the withdrawl fees will be high which can be a major issue for them but still its good news.

Colt81

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Quote from: ?? on ??

how is the situation in that country, have many started using bitcoin ATM for transactions? because I'm not from there so I don't know how the development of bitcoin ATM in that country, while for my country also already has a bitcoin ATM but not everyone uses it, there are still many who use local money rather than transactions using bitcoin.

In my own opinion, having bitcoin ATM can be convenient for every people in Venezuela when it comes to converting their bitcoin into fiat, but i think it may have huge fees depending on the amount that you are about to withdraw. Honestly, i also wanted to experience the convenience of having bitcoin ATM in our country for me not to have any troubles in converting my bitcoins into fiat.

dentolas

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very good news for Venezuela and the crypto world...
especially in countries that are economically depressed and/or restricted, having access to cryptocurrencies might help a lot of people in savings, store of value, etc
Let's hope that in a few months they realize the need of many more ATMs in South /central america

sirminesalot

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Quote from: FlamingFingers on October 19, 2019, 09:44:42 AM

It's a welcome development from the government Bitcoin will really help those who know about it in Venezuela because their currency and economy is so down, that's a good news I believe we are getting there, more ATM and more adoption incoming

good development with cryptocurrency if it can happen also in other countries and I am sure in the future the development of cryptocurrency will be rapid if all countries recognize cryptocurrency as the prevailing currency in my country cryptocurrency has not been fully recognized by the government even the government prohibits transactions directly with crypto currencies

tambok

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Quote from: bryant.coleman on October 20, 2019, 12:56:43 AM

Quote from: Edraket31 on October 20, 2019, 12:00:36 AM

Venezuela's economy has been experiencing hyperinflation at rate of 10 million percent, it is combination of collapse of their food infrastructure and hyperinflation, so they suffered from food shortages and lack of basic services that cause malnutrition and poverty to their country.

Having a Bitcoin ATM in their country, is a great news for all of, especially to their country, little by little they are coping up with their financial crisis and they have seen crypto as one of the tool that they can use to start with.

Having a Bitcoin ATM in Venezuela will be having its own challenges. For example, if someone converts his fiat currency to BTC using this ATM, then the user does not need to worry much about his wealth. But the ATM provider is getting fiat cash in his account, which gets devalued at a rate of 50% or 60% a day. So by the time the ATM owner processes this cash, he will be incurring a loss.

But I am not sure whether the ATM works both ways (crypto to fiat and fiat to crypto). If it allows just crypto to fiat conversion, then the service provider should be OK. He will be getting BTC in his wallet, which he can convert to some stable currency such as USD or EUR, in order to purchase more Bitcoins from the global exchanges at a later point.

If you ask me, this sounds very cool to have bitcoin ATMs and crypto banks but honestly, it is much better if we are not provided with such things that will become the cause of losing anonymity. One of the foremost reasons behind investing in bitcoin is staying unknown. With these things, I really don't think it will be any task for authorities to keep an eye on bitcoin holders and amount of their asset.

Still having a Bitcoin ATM, being involved in Bitcoin will be a great start for them, of course this is not only the solution that they need, they still need to do other things for them to be recover from the financial crisis they are currently facing. Let's keep updated what will be their strategy from this aside from involving in crypto world.

Vaculin

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Quote from: mazdafunsun on October 20, 2019, 03:32:48 PM

Does anyone know if this went thru and they started the bussines in Venezuela?

here is the latest news about the first ATM< https://cointelegraph.com/news/after-multiple-false-starts-venezuela-may-have-its-first-bitcoin-atm
so maybe this has been be push through yet.

Quote from: mazdafunsun on October 20, 2019, 03:32:48 PM

My thoughts are that this country is in pretty strong grip regarding ant economics and it includes crypto coins so for my it is hard to believe that this concept worked there.

With their big problem on hyper inflation this crypto ATMs will certainly help the people especially to those who are earning online, so I am hoping that the government are also supportive with this as this kind of business requires permit IMO.

mazdafunsun

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Does anyone know if this went thru and they started the bussines in Venezuela?
My thoughts are that this country is in pretty strong grip regarding ant economics and it includes crypto coins so for my it is hard to believe that this concept worked there.

Xxmodded

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Quote from: kenzawak on January 19, 2019, 10:46:03 AM

https://blockmanity.com/news/bitcoin/venezuela-to-get-its-first-bitcoin-atm/

It should be installed in Caracas in the next two weeks.

Quote

CryptoBuyer, a cryptocurrency ATM manufacturer, is planning to install the countries first Bitcoin ATM. The news was announced by the company’s CEO Jorge Farias on a Union Radio podcast. The ATM will be installed in Caracas and will be opened in the next two weeks.

“We are going to install the first cryptocurrency ATM in Venezuela, in the course of the next two weeks (…), we already have the equipment physically installed in Venezuela, in Caracas and they are in their final tests and we will be announcing them in social networks “, Jorge Farias said.

Have bring effect for Venezuela after legal and have bitcoin ATM for increase their economic condition? Venezuela government have frustration with their money value unless last two months, they want to make bitcoin and altcoin become legal transaction and give effect for people can get value with their investment with bitcoin and altcoin, they have adopt last three months and I think will raise up Venezuela economic'sh

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