RATE Group | Venezuela’s largest retail chain opens its first Bitcoin ATM
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Venezuela’s largest retail chain opens its first Bitcoin ATM

07 Oct Venezuela’s largest retail chain opens its first Bitcoin ATM

Posted at 01:06h in Cryptocurrency News by

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Venezuela, for all its troubles, is making a strong push to become a leading “crypto state”— so much so that even its socialist government is fully embracing Bitcoin and Ethereum.

Now, the country’s largest retail chain, Traki—already a pioneer within the country in terms of adopting crypto as a means of payment—is going yet another step further.

The Venezuelan department store announced on Thursday that CriptoTraki—a division of the chain that’s in charge of all things crypto for the business—successfully installed a Bitcoin ATM in one of its stores. The Bitcoin ATM went live on Friday.

The crypto ATM is located at a Traki store in the El Recreo mall and will be managed by the Venezuelan exchange platform VEINTE (Venezolana de Intercambios). The machine, however, is currently only unidirectional—meaning that, right now, customers can only buy Bitcoin and other cryptocurrencies from the machine, but are not yet able to trade them for cash.

The ATM supports…

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