Cryptocurrency monetary automatic boom comes to Colombia-emerging countries
Cryptocurrency monetary automatic boom comes to Colombia-emerging countries
Colombia is not a country that has accepted cryptocurrencies compared to Venezuela or some African countries, but it is the country with the second most cryptocurrency automatons in the Latam region. The reason for this could be that Colombia has a high proportion of cash. This makes cryptocurrency monkey machines a very important instrument for the introduction in the country.
Colombia, crypto monetary machine port
In Colombia there is currently a boom of cryptocurrency control machines, as this is the country that houses the second highest number of these ATMs in the region. Until not too long, Colombia came first before El Salvador completed his Bitcoin bet and explains the leading legal means of payment for cryptocurrencies. There are currently 50 ATMs for cryptocurrencies in Colombia, but some are not yet clear for this boom.
Colombia is not particularly known for its introduction of cryptocurrencies, and his participation in cryptocurrencies at government level was limited to a regulatory sandpit that the exchange is running with banks. However, there seems to be an increasing interest of cryptocurrency automatic companies to offer their services there. This could have to do with the proximity to Venezuela and the lively trade exchange between these two countries.
About it said Alejandro Beltrán, CEO from Buda, a Börse Forbes :
Colombia is still an important crypto hub in relation to transactionality, and since Venezuela is among the top 3 of the global adoption index, the border position makes ATMs good alternatives for consumers.
Numbers and explanations
The cryptocurrency automatons are mainly concentrated in the country's capital, Bogota, where there are 29. Six are in Medellín, three in Bucaramanga and Pereira, the rest are scattered in other places. This clearly shows that most crypto cash machines are concentrated in urban areas, apart from the borders. This fact seems to rule out the transactionality between countries as an important driving force behind the ATM advance. Beltran has another theory to this boom.
Colombia is one of the leading countries for using cash in the region, and these ATMs help customers to manage and handle funds that could not be used efficiently with the current restrictions of the country's banking sector. Finally, Beltran said:
We believe that this can be one of the major contributions in the sector so that the ecosystem continues to grow vertically.
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