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BTC teller machines arrive to Argentina in the wake of inflation

BTC teller machines arrive to Argentina in the wake of inflation
Oct 5, 2018 by Rico Wise

BTC teller machines arrive to Argentina in the wake of inflation

ATM companies intend to install more devices in the country, as the demand for digital currencies rises

In Argentina, the level of inflation is anticipated to grow over 40% prior to the end of 2018. With that, the demand for BTC is spiking on the continent of South America, which leads to the decision taken by the digital currency teller machine companies to set up for devices in the country.

As of now, there are only two digital currency teller machines in the country, both of which are situated in Buenos Aires. However, before 2019 comes, this quantity may increase up to 30 devices. The said two teller machines have been set up within the period of three past weeks, with the latest to have been installed just two days ago.

According to Dante Galeazzi of Athena Bitcoin, the company that installed the first-ever digital currency teller machine in Argentina, the price of peso, the national currency of the country, is decreasing against the US dollar, which led to the rise in digital currency transactions.

Currently, the two machines, provided by Athena can only be used to trade Bitcoin, however there are intentions to expand the services, including the ability to operate such digital currencies as BCH, ETH, and LTC using the teller devices.

Apart from Athena bitcoin, which is based in the United States, there is another company that intends to expand to the Argentinian digital currency teller machine market, which is also a firm located in the United States – Odyssey Group. Nevertheless, Odyssey’s devices will not only provide cryptotrading services, but also will offer such common services as cash deposits and withdrawal and fund transfers between user accounts.

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