Crypto ATMs now ready for Honduras 

El Salvador isn’t the only Central American country that is rapidly adopting cryptocurrencies. Honduras has also initiated its first step into cryptos through Bitcoin ATMs. 

Though not as bold as El Salvador’s Bitcoin legal tender, Bitcoin ATMs will provide Hondurans with greater access to Bitcoin, the world’s leading cryptocurrency. 

The Honduran government plans to establish a nationwide cryptocurrency infrastructure, including Bitcoin ATMs, to support its state-issued Bitcoin wallet. 

Panama’s Congress, inspired by El Salvador’s big decision, is proposing to follow that route and turn Bitcoin into its legal tender. 

Bitcoin ATMs, a first step

The first Bitcoin ATM that has now been installed in Honduras was manufactured by the Honduran company TGU Consulting Group. The machine, which is locally called “La Bitcoinera”, will finally allow citizens to acquire both Bitcoin and Ether using the country’s lempira currency. 

“Until now, there was no automated way to buy crypto-currencies. 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,” Juan Mayén, 28-year-old chief executive officer of TGU, said. 

Mayén is a member of a Discord crypto group called BUIDL, and the group reached out to billionaire Brock Pierce for their crypto ATM initiative. 

Long term goal

The chief executive officer said that his long-term goal is to establish Honduras’ first crypto exchange, which he aims to accomplish in the next few months. He also admitted that there is a feeling of urgency in him to launch this project as soon as possible. This is because the longer the exchange goes live, the less Bitcoin that their currency can buy. 

Image courtesy of Cointelegraph News/YouTube

Source: https://bitcoinerx.com/blockchain/crypto-atms-now-ready-for-honduras/