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Argentina Bitcoins Legal Services

Bitcoin has great power: and is indeed a form of money because hundreds of thousands of people have agreed to sanction it as such. It is easily converted to dollars or to the purchase of products.

 2000 ATMs compatible with cryptocurrency will be installed in Argentina

The first ten units will be operational by the end of the year and will allow to operate with bitcoin, ether, litecoin, cash and credit card

Buy bitcoins, ether or litecoin with tickets or credit card at the same ATM? It looks like a distant prospect for Argentina, but it would be just around the corner if the news revealed to THE NATION Sebastián Ponceliz, CEO and founder of Odyssey Group US, a company that sells ATMs to individuals.

According to this Argentinean established in the United States for more than 20 years, our country is about to position itself at the forefront in the adoption of this type of technology. A group of non-bank companies already closed a deal with their company to install 2000 of these ATMs in Argentina, of which at least 10 will be operational by the end of the year. “We tried to take them this month but for customs issues of electrical safety we did not arrive,” he said.

The first units will reach the cities of Buenos Aires, Córdoba and Jujuy. “Starting in May of this year, the Central Bank (BCRA) issued a regulation allowing private individuals to operate ATMs. We talked about this with officials of the entity and started up,” said Ponceliz, who already manages ATMs in Mexico, Brazil, Colombia and Spain, among other countries.

The ATMs will use the Octagon platform, which allows them to operate with cash and cryptomonedas and even opens the door to more complex operations, such as the granting of microcredit. “It is a platform for financial inclusion, because it enables people who are not linked to digital currency to link through the machine,” he said.

knows the land
“In the United States we operate the business end to end.You want a cashier, we buy, install, program, maintain, charge and receive the rent. transactional platform ready to be connected to the country’s transaction gateway, “he said.

Although Ponceliz is not at liberty to comment on who are the customers that will manage these ATMs, it did reveal that among them there are chains of supermarkets and pharmacies, means of payment and non-bank financial institutions in the interior. “They are not just big customers, we have many different profiles,” he acknowledged.

In the case of cryptones, the price will be determined from the value published in the main trading sites. “It’s arbitrary,” Ponceliz admitted. “It’s still a Far West that is not regulated. To avoid that we’re going to take public quotes.”

According to the businessman, our country concentrates only 14,000 of the six million ATMs operating around the world. All this can change thanks to the legislation approved by the BCRA in May. “We are talking about installing 20,000 new units in 2018. I think the market gives 30,000 or 50,000 more. We have many proposals, but not all are closed.”

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