First Bitcoin ATM in Venezuela

[DdmrDdmr]

<…> It might be the first in Caracas but it's not the first in Venezueala
A month ago this one was set up:
https://coinatmradar.com/bitcoin_teller/9457/bitcoin-teller-bitcoin-teller-san-antonio-del-tachira-viajes-e-inversiones-hc/
<…>

Technically, the one installed in San Antonio del Tachira is a BTM, not an ATM, and therefore does not technically count as an ATM in some inventories that are made on ATMs worldwide.

The BTM is installed by Panda BTM, and is a portable device similar to those used to pay with your credit card at a store. The idea here is that the shop teller assists you in the purchase, and you end up paying in cash (although I have seen a video where both customer and seller use their fingerprints to access the device, so there may be some account related method that is not currently listed in Panda BTM’s website – it states cash).

See https://www.bitcoin.com.mx/panda-btm-coloca-el-primer-cajero-automatico-de-bitcoins-en-venezuela/ (in Spanish) and https://pandabtm.io (English selectable).

The one I mentioned yesterday that was installed in Caracas, is a "conventional" BATM, and is installed by a company that apparently is registered to the SUNACRIP (government authority in Venezuela that is responsible for all crypto-related regulation there).

[stompix]

Technically, the one installed in San Antonio del Tachira is a BTM, not an ATM, and therefore does not technically count as an ATM in some inventories that are made on ATMs worldwide. The one I mentioned yesterday that was installed in Caracas, is a "conventional" BATM, and is installed by a company that apparently is registered to the SUNACRIP (government authority in Venezuela that is responsible for all crypto-related regulation there).

The 3 merits are for making my brain melt dealing with those three!!! 

Ok...so, if you have time explain to me like I'm really stupid cause I feel like right now
This the article from the true ATM, right?
https://currencymarket24.com/venezuela-has-its-first-atm-to-buy-bitcoin-and-dash-breaking-news/

The device is located at the branch office of The Recreo (Caracas) of the retail chain Traki, which accepts various cryptocurrencies as a means of payment for their products.The cashier receives USD in cash to effectuate the sale of the cryptocurrencies..

So how is this one different from the other?

[DdmrDdmr]

I know I’ve been on about this BATM in Venezuela lately quite a bit … I’t pretty interesting, but the most important thing I’d like to re-emphasize is the fact that a BATM is seen differently there due to the dire situation of the Venezuelans. The usage is the same (purchase or sell crypto), but the aim is rather much different (pretty much survival there vs a normally more enthusiastic/techno/freak/investor approach for example in, lets say Europe).

On to your question, the article you reference above is a translation from this one: https://www.criptonoticias.com/comunidad/adopcion/venezuela-primer-cajero-comprar-bitcoin-dash (by the way, I didn’t see the reference to credit the Spanish version within the English one). The translation is pretty good, but not as precise as should be when stating "The cashier receives USD in cash to effectuate the sale of the cryptocurrencies". In Spanish, you use the term "Cajero" nowadays more related to ATM ("cajero automático") than cashier (person). The original intent was related to ATM, but was loosely translated as "cashier" which is normaly the person.

Regardless, the link I provided above (Spanish version of the article) contains an embedded tweet that has a photograph of the ATM (AKA "cashier"). The instructions on screen state “3. Put cash into the machine”. Voilá …

In summary:
1) Jan 2019: CryptoBuyer announced the first ATM in Venezuela, to be installed in Caracas.
It was installed, tested, but never went live for some reason I have not been able to trace.
 
2) September 2019: BTM installed in San Antonio del Tachira (a few kilometres off the frontier with Colombia). The BTM is a tiny device, portable, and that requires both customer and shopkeeper to perform the TX, normally in cash. The company is Panda BTM.

3) October 2019: second BTM installed in Mérida.

4) November 2019: First (again) ATM installed in Venezuela (Caracas). This time it seems to be open to public and is fully operational (alas some issues during tests, rendering no BTC available, only Dash – later resolved). (B)ATM looks like a (small) money ATM, and is self-suficcient.


ATM:



BTM:

[stompix]

The BTM is a tiny device, portable, and that requires both customer and shopkeeper to perform the TX, normally in cash. The company is Panda BTM.
~
BTM:

And every day you learn something new.
I have never seen one of those things live, and I never thought coinradarmap would be listing them, then you could add all the tobacco shops in France and all the Zebrapay (?) terminals in Romania (I don't know if they are still active) if we add this one. There was also PayPoint in the UK with 20k shops but some partnership went totally wrong.

It says ATM then it should be automated. That one is more like HATM (human-assisted)

Oh, and...

In summary:
1) Jan 2019:
2) September 2019:
3) October 2019:
4) November 2019:

5) December 2019: Maduro bans bitcoin trasnactions 

[Eclipse26]

Not really sure if this could help the situation happening in Venezuela. It's a good thing that installation of bitcoin ATM is increasing not only in Venezuela but also in other country... But I'm more focused on the situation in Venezuela whether this ATM could help them or not. Or if it's really a good thing for the citizens or the government are the one that will benefit from it.
Since Venezuela is having a big issue in their country, why not the government focus on solving it rather than this... Or is it their solution to solve the problem? I am not against this since it could be a step to achieve adoption... Since this post was last january and now it's October, what does this ATMs have done for the people of Venezuela? Was it helpful or not??

[Arsenyo]

First Bitcoin ATM and partnership between PundiX and Traki, Venezuela's largest retail chain, who plans to install physical systems throughout country to allow customers to pay in Bitcoin and other cryptocurrencies. Well, I definitely didn't expect such huge steps will take place exactly in Venezuela

[Mometaskers]

This was from January? This went right through my radar. Almost didn't believe it considering their previous stance on cryptos. Maybe they've finally decided they can use it as a buffer?

5) December 2019: Maduro bans bitcoin trasnactions 

Well, there's always that risk. The guy outright expropriates businesses so I wouldn't be surprised if it does happen.

[Vishnu.Reang]

5) December 2019: Maduro bans bitcoin trasnactions 

If he bans the transactions, then the users will go underground. But on a serious note, I don't think that he'll do that. Even Maduro realize that it is not Bitcoin that caused economic collapse in his country. And bans are useless, when he don't have a large police force to enforce the measure. From what I have heard, more than half of the police force have gone AWOL, as the salaries are getting delayed.

[boltz]

I think Venezuela have one of the most engaging people into Bitcoin and cryptocurrencies and now wonder why as their national paper money became worthless due to extravagant inflation. I kinda envy them because they are so familiar with this phenomenon and they trust Blockchain like no otters...meanwhile in my country if you use bitcoin you're illegal and you are surfing dark web and you're a drug dealer ...this is the mentality which is sad to bare...this is why I barely speak about Bitcoin to strangers.

[DdmrDdmr]

<…>

Honestly, nothing to envy. Whomever has familiarity there with BTC is basically due to their dire situation, and they tend to keep it rather much to themselves for fear of people trying to steal them from them. As things stand, it’s almost an every man for himself kind of situation, where the BTC becomes a choice for the boldest pretty much out of despair.

[FanEagle]

We need to implement it everywhere in the world where there is an economical gap between the first world countries and third world countries.

When the big nations make almost all the money and the small nations are left with crumbs, the best case of scenario small nations could do is moving their workers towards bitcoin payments globally, paying something 100 euroes in europe is not a huge amount, it is definitely doesn't mean free but it is not huge, people pay more than that on a good meal outside (like really good) but 100 euroes could be a whole months salary for someone in third world country, they have to take advantage of bitcoin and it is beauty in those countries to make up that difference and take the money from first world countries to live and best way to do it is bitcoin and BTM machines.

[stompix]

<…>

Honestly, nothing to envy. .

Poverty is good for bitcoin!

When the big nations make almost all the money and the small nations are left with crumbs, the best case of scenario small nations could do is moving their workers towards bitcoin payments globally,

Yes comrade, too bad it's 2019 and nations don't pay their workers anymore, except for the government employees.

it is beauty in those countries to make up that difference and take the money from first world countries to live

Indeed comrade, we should take the money from the evil rich countries and give it to the poor so they could spend it and become poor once again. For the glory of the working man and the soviets!!

~

If he bans the transactions, then the users will go underground. But on a serious note, I don't think that he'll do that. Even Maduro realize that it is not Bitcoin that caused economic collapse in his country. And bans are useless, when he don't have a large police force to enforce the measure. From what I have heard, more than half of the police force have gone AWOL, as the salaries are getting delayed.

The expression "even he/she/x" is losing its meaning when you add Maduro to it, his stupidity is just as the universe, infinite.
And secondary, yes, he has the power to impose a ban, he might not have the police but he has the army and he has his bands of mercenaries, and furthermore in the situation the country is nobody gives a damn about human rights so after 1 hour of interrogation thee you'll remember you are Satoshi's brother. And the poorer people are, the cheaper and more efficient snitching becomes.

[darewaller]

After the economy in the Venezuelan state was destroyed their government began to look to plunge into the world of Cryptocurrency to turn things around, Venezuela hopes that Bitcoin will be able to boost the economy that has fallen back, so that the new ATMs launched there are a form of support from their government.

To an extent, Bitcoin would have actually help them to do some damaging control to their economy if they had fully implemented it also, but it seems that they are still not fully into it as I have already seen where they have a proposal to create their own cryptocurrency which is to be called petro coin, and I really don't think that this coin will get so much support as some countries like US is already saying some negative stiff about it.

Though to an extent, it is not actually of any business of USA to discredit a project that they feel will help their country, but instead of creating their own coin, I would rather have preferred that they work with a currency that is not being controlled. If they come up with their own currency now, I am sure that we will still have some people that will still hijacked it and still be able to manipulate it.

[Vishnu.Reang]

The expression "even he/she/x" is losing its meaning when you add Maduro to it, his stupidity is just as the universe, infinite.
And secondary, yes, he has the power to impose a ban, he might not have the police but he has the army and he has his bands of mercenaries, and furthermore in the situation the country is nobody gives a damn about human rights so after 1 hour of interrogation thee you'll remember you are Satoshi's brother. And the poorer people are, the cheaper and more efficient snitching becomes.

Well.. you have a point there. A ban hasn't been imposed yet and I haven't heard any rumors about the government considering such a step. But in case they decide to impose a ban, then there is a very good chance that the ordinary Bitcoin users may end up harassed by Maduro's goons. I could think of only one solution. If any Venezuelans have some coins in their wallet, then they should just immigrate to either Colombia or Brazil rather than residing in that god forsaken country.

[adzino]

It is a good step taken by them. At least people in Venezuela will be able to use or know about crypto currencies just because of that one ATM. But I really hope those ATM fees won't drive them away from buying bitcoin. Also as far as i know, those ATM spends very low mining fee thus confirmation time takes a lot making people really frustrated (i have seen someone literally crying and becoming impatient for of slow confirmation speed).

[EdvinZ]

Bitcoin ATMs are a good advertisement among the population that uses little Internet and is little aware of new technologies. Moreover, this business niche is still empty in this country, so I think those people who will be the first to engage in this business will be able to make a good profit on commissions for exchange operations.

[meliodas]

I hope this kind of events will also happen in other countries whether it is small or big countries. Having an ATM especially when it is bitcoin or other cryptocurrency simply means that their country is really into cryptocurrency because they approved this kind of transactiion. If most of the countries will do the same in putting bitcoin ATM then it will help the people to get a chance to invest and make some money through bitcoin.

[imstillthebest]

I hope this kind of events will also happen in other countries whether it is small or big countries.

yes it is already happening on most of the countries  . small and big countries that adapt bitcoin , they do also install a btc powered atm to give more convinience to btc users and also to help promote btc even further .

Having an ATM especially when it is bitcoin or other cryptocurrency simply means that their country is really into cryptocurrency

having an atm alone is not an indication that one country is into crypto but btc powered atm are enough evidence that a country gladly support cryptos  .

good to know that controversial country like venezuala are now getting involved on this events   . this is a sign that thier country is recovering from its financial tragedy

[Genemind]

It's a good thing that Venezuela has its own BTC atm machine. It will be easier for them to purchase and transact using Bitcoin. I just wish that we'll have that kind of ATM in our country as well. There are lots of crypto users here so it will be an advantage to have bitcoin atm machines to transact faster and more convenient. If every country would have that kind of machine, more people will be able to purchase and would get interested in crypto since it's another form of btc promotion.

[Google+]

I have read that the Venezuelan country has been hit by the problem of the economic crisis, if this country can develop quickly and many cryptocurrency that have emerged even many cryptocurrency ATMs can have a good influence but in addition there are still some risks that can have a negative impact on the country's economic conditions .