Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
Home Global

Uruguay gets its first cryptocurrency ATM

by Jagdish Kumar
February 9, 2022
in Global
Reading Time: 3 mins read
2.9k
A A
0
Share on FacebookShare on Twitter

South American nation Uruguay has installed its first cryptocurrency ATM in Punta del Este, a city located in the southeast of the country.

Two local crypto companies have developed the ATM where citizens can buy cryptocurrency: Urubit developed the software and Inbierto developed the hardware. 

You might also like

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

February 22, 2023
7.5k
Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

February 14, 2023
7.5k

As per an estimate, Uruguay has around 50,000 crypto holders that have been currently trading in crypto from the peer-to-peer market. 

Speaking to Ámbito.com, Inbierto CEO Adolfo Varela said that with the installation of cryptocurrency ATM Punta del Este, the quintessential tourist city can lead the adoption of the cryptocurrency market in South America.

He also said that demand for cryptocurrency is very good and this will further increase cryptocurrency adoption among citizens. 

In response to a question about the number of coins that can be traded on the ATM, he replied that there are five coins including Bitcoin, Ferret Token, Urubit, Binance Coin (BNB), and Binance USD (BUSD). In the near future, it is understood, the company will add more coins.

The installation of the ATM can create trust in the cryptocurrency market, where most trading happens among users themselves, as there are no regulations on crypto. 

Varela believes that with the adoption of crypto ATMs the possibility of being victim to a scam can be eliminated. 


The company intends to grow in Maldonado, then Colonia, Montevideo and by the end of the year, they want to expand their coverage throughout the national territory. 

They are also in touch with South American nations to install crypto ATMs that will provide me with more global reach. 

However, this is just a baby step in the adoption of crypto ATMs in this country, as installation of ATMs is very low in South American nations.

According to Coinatamradar.com, there are only 41 cryptocurrency ATMs in the whole of South America, of which the majority are in Brazil and Argentina. 

Varela was asked why Ethereum was added to the list since it is the second most popular crypto after Bitcoin. He explained that the companies rely on the Binance Smart Chain (BSC) to process transactions and another reason is Ethereum’s fees are high, which dissuades users from using the machine, thus the BSC integration was chosen.

It is to be noted that in December 2021, the Central Bank of Uruguay in a document revealed a roadmap for regulating crypto assets. The 25-page document also proposed to review the current law and make changes to include cryptocurrency. 

It also said that changes will be made in the existing financial regulations, instead of creating a virtual asset law to encompass the universe of these assets in just one project.

Tags: crypto atmUruguayUruguay crypto atm
Advertisement Advertisement
Previous Post

Visa eyes crypto payments, partners with 65 crypto platforms

Next Post

New threats in the world of crypto bring more questions about safety

Jagdish Kumar

Jagdish Kumar

Reporting & writing on crypto & blockchain for the past few years. A content eagle, journalist & writer with a passion to explore new technologies that can change human lives. Joined Klever to make Crypto simple. Follow me on Twitter @TokenBharat or email me at jagdish@klever.io

Related Stories

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

by Klever
February 22, 2023
0
7.5k

We are excited to announce that Klever has recently joined the Web3 Domain Alliance, a group dedicated to promoting the...

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

by Isabela Bellumat
February 14, 2023
0
7.5k

With so many options available, it can be difficult to determine which wallet is the best choice for your digital...

The Rise of Decentralized Autonomous Organizations: Transforming the Future of Business and Society

The Rise of Decentralized Autonomous Organizations: Transforming the Future of Business and Society

by Warren Manuel
February 10, 2023
0
7.3k

Imagine a world where businesses and organizations operate with complete transparency, security, and autonomy. A world where intermediaries and central...

Revolutionizing Investment: Can AI be Your Next Financial Advisor?

Revolutionizing Investment: Can AI be Your Next Financial Advisor?

by Warren Manuel
February 9, 2023
0
7.3k

Investment and financial management have come a long way in the digital age. With the advent of Artificial Intelligence (AI),...

Next Post

New threats in the world of crypto bring more questions about safety

KleverChain: The ultimate blockchain coming soon

Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
7.5k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
7.6k

Popular Story

  • Stand a chance to win your share of 10,000 KLV

    Stand a chance to win your share of 10,000 KLV

    8398 shares
    Share 3359 Tweet 2100
  • Test drive Klever Wallet, K5 and Win 1000 KLV & 1 KFI

    7057 shares
    Share 2823 Tweet 1764
  • Bitcoin battles back from record losses to $21,000

    5916 shares
    Share 2366 Tweet 1479
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    5362 shares
    Share 2145 Tweet 1341
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    5076 shares
    Share 2030 Tweet 1269

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Games
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Sponsored
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

Klever joins Web3 Domain Alliance to advance blockchain naming ecosystem

February 22, 2023
Klever Wallet: A Secure Solution for Managing Your Crypto Assets

Klever Wallet: A Secure Solution for Managing Your Crypto Assets

February 14, 2023
  • Sponsored Content
  • Advertise
  • Contact Us
  • RSS Feed

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version