Everyone in Argentina will get Bitcoin now!
Bitcoin ATMs everywhere!
The Odyssey Group is planning to install around 4000 new crypto cash machines throughout the Argentinian territory, and estimates to achieve an initial retrieval of the costs within 5 to 6 months.
Argentina has become a hub for crypto enthusiasts and blockchain development, and now thanks to new flexible government regulations on placing ATMs in non-banking establishments can set the way to have with the biggest crypto ATMs network in the world. Recently the Central Bank of the Argentine Republic (BCRA) has allowed Automated Teller Machines (ATM) to be placed anywhere, and not just banks which were the previous regulations.
Currently there are only around 2600 Bitcoin ATMs in the world, the majority located in the US, and big plans to increase these numbers in countries like Australia and Europe in the next years, but nothing as big as what Argentina might become. This vision came possible due to a massive increase of the existence teller infrastructure that the Central bank is planning, the goal is to install 30,000 new machines, and with its new regulation open the possibility to new businesses come to improve and add more to the until now monopoly that was in hands of only 2 companies, the local Banelco and the international Link network. The Odyssey Group that already posses around 200 machine spread out in the country plans to scale up to more than 4000 new machines, to cut up the demand the nation has. Odyssey's Octagon model already deals with Bitcoin, Ethereum and Litecoin, with updates to the model for the new demand it might get a bigger selection of cryptocurrency according to the public demand.
These kind of plans might revolutionize the crypto economy involvements in more sectors of business in Argentina and South America, the regional evolution might take blockchain to a whole new level in the impact of the modern life for the region.
Really? If that's the case then Bitcoin price will pump high. I hope it happens LOL :)
Still there are no official dates for this being deployed, but it is good news for sure.
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Well, this is a truly beautiful thought, but given the open hostility of our current neo-con government (MM LPQTP) to the cash economy, I cannot believe that they would allow such ATM's to function as they should.
Ideally, you'd insert cash and get BTC sent to your wallet. But the government will almost certainly want it to be more traceable than that, so you'll probably have to fund your purchase of BTC from a bank account.