How do cryptocurrency ATMs work in Colombia?

In Colombia, the total number of ATMs or ATMs with cryptocurrency reaches 46, according to the information published by CoinATMRadar.

The detail shows that the ATMs are located in the following cities: Bogotá (27), the remaining percentage in Medellín (6), Pereira (3), Bucaramanga (3), Cali (2), Armenia (1), Barranquilla ( 1), Cartagena (1), Cúcuta (1) and La Hormiga (1).

An ATM or cash machine is an electronic device that allows users to perform operations such as buying and selling cryptocurrencies. The most common ATM transactions used are cash deposits and withdrawals, and money transfers.

How do cryptocurrency ATMs work in Colombia?
How do cryptocurrency ATMs work in Colombia?

An article from Forbes explained how ATMs work: “To make withdrawals, the usual steps are: Identify yourself on the device and say how much money you need once you have passed How is is it the amount of crypto assets that need to be exchanged at the current exchange rate and voila? The internal approval processes are provided and the resources are provided.

In that post they quoted Typson Sánchez, CTO of Panda, who made it clear that even though they have ten ATMs in the country (they are located in Bogotá and Cúcuta), they are trying to get back to number 30. Its goals include expansion in Cúcuta, Cali and Medellín.

Regarding ATM opening times, Panda’s CTO stated that they are typically available from 10 a.m. to 6 p.m. He also mentioned that they mainly handle four cryptocurrencies: Bitcoin, Bitcoin Cash, Dai, and Dash. However, he emphasized that certain ATMs also handle Ethereum, Litecoin, and Zcashâ € ™, as stated in the Forbes article.

Another of those mentioned was Mathias Goldenhorn, Director of Athena for Latin America. This company has around 18 ATMs in Colombia, spread across five cities: Bogotá, Medellín, Barranquilla, Bucaramanga and Cali.

Athena plans to double the number of ATMs trying to reach 36 by the end of 2021. It should be noted that Athena allows Bitcoin, Bitcoin Cash, Ethereum, and Litecoin to be traded.

“ATM opening times may vary depending on the point, but some are available Monday through Sunday from 9 a.m.,” the article reads.

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