Honduras Installs Crypto ATM for ETH and BTC Purchases

Honduras has installed a crypto ATM to allow users to purchase Ether and Bitcoin seamlessly. The sources show that it is the first cryptocurrency ATM in this nation. Remember, Honduras borders El Salvador, the country that will legalize BTC in the coming week.

Honduras Crypto ATM

On Friday, Reuters reported that Honduras launched a crypto ATM over the week. The source indicated that it is the first digital ATM in the nation. With the money machine, users can buy Ethereum and Bitcoin with the lempira currency.

Located in Central America, Honduras Republic borders El Salvador, which passed a Bitcoin law to legalize BTC usage with the US Dollar. The law will start operating on 7 September.

Honduran company TGU Consulting Group installed the crypto ATM, locally known as La Bitcoinera. Users can access the machine at a business tower in the Tegucigalpa capital. Juan Mayen, CEO at TGU, led the launch of the cryptocurrency ATM, explaining that it is the first automated machine for crypto services in the nation. Coinatmradar, a crypto ATM tracking site, doesn’t list the ATMs in Honduras for now.

Mayen declared his efforts to launch more crypto automated teller machines. He said that most software developers in Honduras already receive their payments through crypto, emphasizing that digital coins will lower charges related to sending remittances.

Last year Honduras citizen staying overseas sent around $5.7 billion in remittances. Keep in mind that the figure accounted for almost 20% of the nation’s GDP. On the other hand, Nayib Bukele, El Salvador President, stated that the country would install 200 crypto ATMs.

The crypto space has seen increased acceptance since the start of the year. For now, it appears like all nations want to enjoy the returns from this booming business. However, some financial experts remain skeptical as far as crypto legalization is concerned.

The move to launch a crypto ATM will build confidence among interested individuals in the region. Moreover, such actions show that crypto might define finance in the future.

Should Honduras install more crypto ATMs? Feel free to share your views in the sections below.

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