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Honduras gets its first bitcoin ATM

The Honduras-based TGU Consulting Group has set up the first Bitcoin ATM in the small Central American country.

As Reuters reported on Friday, TGU managing director Juan Mayen had the ATM for Bitcoin (BTC) set up in an office of the company in the capital Tegucigalpa. The machine called “La Bitcoinera” makes it possible to buy both BTC and Ether (ETH) directly via deposits in the form of the local currency Lempira.

As Mayen explains, although this is the first Bitcoin ATM in Honduras, many online retailers are already accepting the cryptocurrency as a means of payment. So far, the population of the country has mostly only been able to exchange their money in crypto currencies through private individuals, which the TGU managing director classifies as “very cumbersome and dangerous”. According to Numbeo data, the crime rate in Honduras is indeed “very high”.

More and more countries in Central America are opening up to the crypto market. For example, several Bitcoin ATMs are currently being installed in El Salvador to prepare for the introduction of cryptocurrency as an official means of payment. The recognition of Bitcoin & Co. is now also up for debate in the Parliament of Panama.

As the data from Cointelegraph Markets Pro shows, the Bitcoin rate is currently at 48,976 US dollars, which corresponds to an increase of 3% in the last 24 hours. The ether price even managed an increase of 4%, and thus improved to 3,272 US dollars.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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