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The first Bitcoin ATM is installed in Honduras

TGU Consulting Group, A Honduran company based in the capital, Tegucigalpa, reported that it had installed the country’s first Bitcoin ATM.

According to a Reuters story on Friday, TGU’s chief executive, Juan Mayen, led the initiative to install the Bitcoin ATM (BTC) in one of the office buildings in the capital. Machine “the bitcoinera” allows cryptocurrency enthusiasts to buy BTC and Ether (ETH) using the national currency, lempira, as long as they are willing to scan their identity documents and reveal certain personal information.

Mayen said that this was the first automated way to buy Bitcoin in Honduras, but many software developers had been accepting crypto for payments. According to the TGU executive, many Hondurans had to exchange cash for cryptocurrencies in person, an action he described as “very inconvenient and dangerous” in the country, data from the crowd-sourced platform Numbeo shows that the level of crime in Honduras is “very high.”

Legislators in some Central American countries take positions more favorable to cryptocurrencies as the market continues to grow. El Salvador is installing Bitcoin ATMs across the country in preparation for the cryptocurrency to be accepted as legal tender starting September 7. At least one member of the Panamanian congress also proposed legislation for the country to adopt Bitcoin and other crypto assets.

Data from Cointelegraph Markets Pro shows that the price of BTC is $ 49,133 at the time of this story’s publication, having risen more than 4% in the last 24 hours. The price of ETH is $ 3,282, having risen more than 4% in the same period.

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Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

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