Cryptocurrencies have become increasingly popular in Latin America, Beyond appearing as alternative solutions to the economic problems of the countries of this region, they have opened a market of business opportunities for various types of companies. that leveraging on the adoption of cryptoactives, they take part of it to take advantage.
Bitcoin ATMs (ATMs) are equipment that facilitates the exchange of cryptocurrencies through hardware located in public spaces, as is the case with fiat ATMs in traditional banking. In the case of Latin America, the region has become of special interest to the companies that develop this service. Paraguay is one of the countries that, despite its great interest and lobby for cryptocurrencies, Its progress in this business has been modest with just two units installed in its territory.
At the moment, According to the Coinatmradar.com website, there are only two Bitcoin ATM units installed in La AsunciĆ³n, Paraguayan capital. Of these two units, one belongs to the Spanish company Bitbase, which arrived in the Guarani country a year ago, and the other to the BitcoinATMs21 company, one of the ATM operators and distributors with the greatest presence in Latin America.
Among the currencies that according to Coinatmradar can be exchanged in said units, They are: Bitcoin, Tether, Ether, Bitcoin Cash, Litecoin, Dogecoin, and Ripple.
In context, it is worth considering that Paraguay does not yet have a clear regulation for cryptocurrencies; in this sense, This scenario may be resulting in a brake on the growth or installation of a greater number of Bitcoin ATM units in the country. However, with the growing and imminent popularity of Bitcoin, and macroeconomic difficulties globally, it is likely that we will see an increase in the number of ATMs available in Paraguay in the coming years.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.