Tuesday, February 27, 2024

Honduras is home to new Crypto ATM

Honduras has been a growing market for the cryptocurrency industry, with huge demand from investors for virtual assets. In an effort to meet local demand, TGU Consulting Group, a local Honduran firm, has set up a brand new crypto ATM in the country.

Tegucigalpa’s newest acquisition

The Honduran capital of Tegucigalpa recently became the proud owner of the country’s very first crypto ATM. Called lovingly, “La bitcoinera,” the machine allows people to buy Bitcoin and Ethereum coins using their local currency of lempira.

The arrival of the crypto ATM marks a new beginning for this Central American nation. Until now, investors in Honduras did not have any valid and authorized means to indulge in crypto trading. Everything had to be done through peers and not individually.

A transformation in the economy

Honduras is one of the few countries around the world, where certain job roles are paid solely through cryptocurrency. For example, some of the leading IT companies in Honduras pay their software developers in crypto. Having an ATM dedicated to bitcoin and ether may bring about a bigger shift, encouraging more companies to use cryptocurrencies as a valid payment mechanism.

If the crypto ATM becomes a hit with users, TGU Consulting Group plans to introduce more such ATMs around Tegucigalpa and even outside the capital. Considering that neighbor El Salvador recently legalized crypto as well, there are high hopes for the ATM to function well.

In order to purchase cryptocurrencies, buyers need to input their name, phone number, address, and other details. They are also required to provide their government-issued ID card for verification.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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