Soon Bitcoin ATMs in Venezuela?

Cryptos in the streets – In 2021, Venezuela arrives in 7th position in the Chainalysis ranking which is based on its global cryptocurrency adoption index. The figures show in particular Venezuelans accustomed to using cryptocurrencies in P2P. This adoption of cryptocurrencies in the country could experience strong growth in the coming months, with the potential arrival of cryptocurrency ATMs (ATM Crypto) from the company Bitbase.

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Cryptocurrency ATMs in Venezuela: Bitbase wants to fill a void

According to a February 16, 2022 article from the media Criptonoticas, the cryptocurrency ATM company Bitbase would discuss with the government and the banking authorities of Venezuela to be able to offer its services to the population.

Bitbase hopes to finalize these talks before the third quarter of 2022. The company could, at the end of the discussions, install your machines.

Bitbase’s representative in the country, Enrique de los Reyes, indicated that the company has had a keen interest in Venezuela since 2017. The company now wants take advantage of the clear regulatory framework set up by the government. Enrique de los Reyes, however, did not reveal how many cryptocurrency ATMs Bitbase plans to install.

Bitbase is reportedly planning to open outlets in malls across Venezuela, however. These outlets will help neophytes to dive into cryptocurrenciesby showing them the steps to follow to download their first cryptocurrency portfolio or by educating them on how to use them.

These trainings will be able to convince the skeptics. They are therefore strategic for the adoption of cryptocurrencies in Venezuela.

Are the ongoing talks likely to lead to a positive outcome for Bitbase and cryptocurrencies? The National Assembly had approved in early February 2022 a tax on cryptocurrency transactions which aims to curb the adoption of bitcoin (BTC) and its cadets, in order to promote the use of a Venezuelan bolivar whose value has not changed. stopped falling over the years. Nothing is therefore won for the moment for these ATMs, which on the contrary risk increasing the number of Venezuelans using cryptocurrencies to the detriment of the national currency.

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