The machine, locally dubbed "la bitcoinera,"
allows users to acquire Bitcoin and Ethereum using the local lempira currency
and was installed in an office tower in the capital of Tegucigalpa by Honduran
firm TGU Consulting Group.
Juan Mayen, 28, chief executive of TGU, led the effort to
bring the ATM to Honduras in hopes of educating people about virtual assets
through first-hand experience.
Until now, there was no automated way to buy
crypto-currencies, he said.
"You had to do it peer-to-peer, look for someone who
... was willing to do it, meet in person and carry X amount of cash, which is
very inconvenient and dangerous given the environment in Honduras," he
said.
On Friday, one Ethereum was trading at $3,237, and Bitcoin;
$48,140. If the service is popular, Mayen said he hoped to install more units.
To make a purchase, users have to scan official
identification and input personal data such as a phone number.
Many software developers in Honduras are already paid in
cryptocurrencies, Mayen said, adding that it will also be a cheaper option to
send remittances.
In 2020, Hondurans living abroad - mainly the United States
- sent $5.7 billion, about 20 percent of the country's gross domestic product
(GDP), in remittances.
The Congress of El Salvador approved in June a proposal by
President Nayib Bukele to make the country the first in the world to adopt
Bitcoin as legal tender.
Elsewhere in the region, lawmakers presented draft bills in
Panama that regulate the use of Bitcoin and its status as a legal tender. © Reuters
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