Athena Bitcoin and Odyssey Group to set up 30 Bitcoin ATMs

Athena Bitcoin and Odyssey Group decided to use 30 Bitcoin ATMs (automatic withdrawal machine) until the end of the year, which is now reducing the pesos value to combat the economic crisis that has troubled Argentina. According to Reuters, this decision was made after the peson lost almost 50% of its value against the USD this year.

Athena Bitcoin and Odyssey Group to set up 30 Bitcoin ATMs

All ATMs The Odyssey Group’s ATMs will offer additional features that will make it possible to buy and sell Bitcoins, as well as facilitate traditional banking transactions such as cash deposits and money withdrawals and money transfer between accounts.

This move comes a month after the crypto currency ATMs launched in Argentina. Athena Bitcoin, a US based company, is setting up the first machine in the Buenos Aires shopping center. Although the Odyssey Group does not currently have an active ATM in Argentina, the company’s representatives are aiming to build 150 machines by the end of the year. The company claims that 80% could transfer Bitcoin to the beginning of 2019. Argentina’s Bitcoin Operations Manager Dante Galeazzi said:

Today, crypto-money ATMs around the world are growing exponentially. There were no commercial ATMs in Argentina, and this idea was the first to seize the market.

”We have seen an increase in Bitcoin transactions with currency devaluations.“

This expansion is not unexpected, as the company already has 12 active teller machines in Columbia. According to Galezzi, Athena Bitcoin has decided to pay for the inflation crisis in Argentina, which offers great growth potential for crypto money. Galezzi also adds:

We have seen an increase in Bitcoin transactions with currency devaluations. We see the opportunity to invest in the market (pesonun) as a guarantee.

Octagon, a Odyssey Group company, will be dealing with transactions from former machinists in Argentina. According to Begona Perez De Solay, general manager of Octagon, the company plans to install 1,600 Bitcoin-enabled Odyssey ATMs by the end of 2019.

Crypto money enthusiasts and experts say the authorities will try to regulate the market by preventing the crisis.

Companies using the market opportunity and more consumers are expected to enter the crypto currency ecosystem. However, crypto-money enthusiasts and experts say that by preventing the crisis, authorities will try to regulate the market and there is a high probability of fraud and money laundering.

In addition, some investors are already having difficulty in investing in digital tokens, as most of the central banks have not been approved for traditional assets. According to Joe Ciccolo, the founder of BitAML, a digital currency consultancy, this concern can be prevented by ensuring that each transaction in an ATM is fixed to a valid identity that can even be a driver’s license. Joe Ciccolo says:

ATMs can also implement transaction controls by setting daily limits per person.

Odyssey Group and Athena Bitcoin are preparing plans for expansion in Chile, Brazil and Mexico in other Latin American countries.

14 votes, average: 4.86 out of 514 votes, average: 4.86 out of 514 votes, average: 4.86 out of 514 votes, average: 4.86 out of 514 votes, average: 4.86 out of 5 (14 votes, average: 4.86 out of 5)
You need to be a registered member to rate this.
(446 total tokens earned)
Loading...

Responses