The Athens Bitcoin installed a bitcoin ATM and other cryptocurrencies in the city of Cúcuta, a border between Colombia and Venezuela. The cash will allow the exchange of Colombian pesos by bitcoin, bitcoin cash, and litecoin. Therefore, the bitcoin has played a key role in maintaining the value of the currency for Venezuelans citizens.
The cashier is in a terminal used by Venezuelans to travel to Peru, Ecuador and other countries. And it’s right behind a Western Union unit, where 75,000 orders are paid each month. The idea is to allow people to send from $ 3 to their family members with lower costs.
The ATM bases its rates on the exchange in the LocalBitcoins. They sell the cryptocurrency with 12% to 15% of margin, while they buy with a margin of 5%. However, the box will not charge a commission for lower operations 100,000 Colombian pesos (US$ 32 at today’s prices) in the first two months.
Athens Bitcoin and Panda Group also made an airdrop through a system installed in the ATM. Through this operation, the Venezuelans obtain a wallet already with 5 thousand pesos in cryptocurrencies.
With this box, 24 units of Athens Bitcoin ATM in the country. In addition, the company installed several ATMs in Argentina and others in several cities in the United States.