Central American countries seemed to be going all-in on crypto and Honduras followed suit. The country got its first Bitcoin ATM installed and it was labeled “la bitcoinera.”
El Salvador’s dive into the crypto-verse by legalizing Bitcoin was an inspiration to many. The country shattered rumors built up by those who hate the crypto industry and emerged as a prominent supporter of Bitcoin. Even though several suggested that giving the asset a legal tender was a little too much, other countries seemed to be influenced by this move as they were seen making progress with regards to the crypto-verse.
Honduras seemed to be jumping into this crypto wagon by welcoming its first Bitcoin ATM.
Honduras’ Bitcoin ATM to allow BTC and ETH transactions
A native company of the country, TGU Consulting Group went on to install Honduras’ first Bitcoin ATM in an office tower in the capital of Tegucigalpa. The ATM reportedly consists of Bitcoin [BTC] as well as Ethereum [ETH]. In order to buy these assets, users would have to bring out official identification and scan it. This would then be followed by the inclusion of the users’ personal data like the phone number.
The chief executive of TGU, Juan Mayen noted that this was the first ATM in the country and there was no automated way before this to purchase crypto in the region. He added.
“You had to do it peer-to-peer, look for someone who … was willing to do it, meet in person and carry X amount of cash, which is very inconvenient and dangerous given the environment in Honduras.”
Additionally, Mayen revealed that several software developers in the region were being paid in crypto. The emergence of crypto in the country would further pave the way to cheaper options to send remittances.
Mayen hopes to bring in more ATM units if the first one garners users.