In terms of crypto adoption, Colombia might be lagging behind countries such as Venezuela and other African nations, yet when it comes to having most of the crypto-powered Automated Teller Machines (ATMs), it comes at number two amongst Latin American countries. In less than a month time, at least 50 crypto-powered ATMs have been put in place.

In Latin American countries, crypto adoption is as good as any other part of the world. However, there have been a few countries in Latin American region, where crypto adoption is relatively low compared to other regional states.

Crypto hasn’t been able to make its way into Colombia as it did with the rest of the world. Even a country such as Venezuela, which too is part of Latin America, is ahead of Colombia in terms of crypto adoption. Yet there is this sense prevailing in most of Latin American countries, including Colombia, which want to utilize Bitcoin as national fiat. It was in fact Colombia which came up with the idea of adopting Bitcoin under a legal tender. Yet, the idea was picked up by El Salvador while Colombia was still studying the possibility.

Though Colombia may be behind other regional countries but in having most of crypto powered ATMs, Colombia is far better than any. For the time being, there are at least 50 registered locations throughout Colombia where crypto powered ATMs can be found and used. These machines are powered with multiple cryptocurrencies and include Bitcoin, Ethereum, BCH, Litecoin, etc. A high number of these machines can be used for carrying out both end transactions. For instance, through these machines, a person can buy or even sell his crypto coins.

But when people compare crypto adoption in Colombia with having most of crypto-powered ATMs, then they are confused. They failed to find any commendable reason for such an increased adoption and utilization of crypto ATMS in the country. However, one reason could be attributable to the fact that Colombia and Venezuela have close borders. Even the residents of both countries do not require visas and instead rely on on-spot entry permission system. So people of both countries come and go in each other’s states very often. Apparently, crypto adoption is on a very high level in Venezuela. This could therefore be one of the logical reasons why Colombia is second in Latin American countries in terms of crypto ATMs.

However, globally, the US is at the number one spot when it comes to adopting crypto powered ATMs. There are a total of 30,000 crypto ATMs operating across the world. Out of them, about 26,000 machines are operating in the US. US is then followed by Canada with a total of 2,000 machines.

Leave a comment

© Coin Dreams 2020, all rights reserved

Skip to content