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The “la bitcoinera” machine allows crypto fans to buy BTC and ETH using local fiat cash if they are ready to scan their IDs and reveal certain personal details.
TGU Consulting Group, a Honduran firm based in Tegucigalpa, is said to have installed the country’s first Bitcoin ATM.
According to a Friday Reuters report, TGU chief executive Juan Mayen led the move to install the Bitcoin (BTC) ATM in one of the capital’s office buildings. The “la bitcoinera” machine allows crypto enthusiasts to purchase BTC and Ether (ETH) using the local fiat currency, lempira, provided they are willing to scan their IDs and disclose certain personal information.
Mayen said this was the first automated way to purchase Bitcoin in Honduras, but many software developers had been accepting crypto for payments. According to the TGU exec, many Hondurans have had to exchange cash for crypto in person, an action he described as “very inconvenient and dangerous” in the country — data from crowd-sourced platform Numbeo shows the level of crime in Honduras as “very high.”
As the cryptocurrency sector expands, lawmakers in some Central American countries have become more pro-crypto. El Salvador is now constructing Bitcoin ATMs throughout the country in anticipation for the cryptocurrency’s acceptance as legal tender on September 7. At least one member of Panama’s congress has also introduced legislation to legalise Bitcoin and other cryptocurrencies in the country.
According to Cointelegraph Markets Pro data, the price of BTC is $48,976 at the time of publication, up more than 3% in the last 24 hours. The price of ETH is $3,272, up more than 4% during the same time span.