The American company Coin Cloud installed in Brazil the first ATMs aimed at cryptocurrencies. Present in locations in São Paulo and Rio de Janeiro, the machines allow transactions with 29 different types of crypto such as Bitcoin, Ethereum and others.
Just like a regular ATM, the user only needs to follow a series of instructions on the machine’s screen to perform quick transactions. According to the company responsible for the service, the system arrives in the country with the entire interface in Portuguese.
Purchases and sales are made after performing a two-step verification with the cell phone. Then, the user only needs to choose the crypto that will be traded and insert the money.
After the transaction, the deposited money is transferred instantly to the consumer’s digital wallet. At launch, users will have the option to make purchases from R $ 10 and sales of at least R $ 50.
Expansion to Brazil
Of the 10 ATMs that Coin Cloud installed in the country, one machine is in Barra da Tijuca, in Rio de Janeiro, while the other nine devices can be used in São Paulo, in the Pinheiros, Jardins, Itaim Bibi, Brooklin and Vila Andrade neighborhoods. , in addition to Alphaville and Sorocaba.
Brazil is the first country in the world to receive Coin Cloud services outside the United States, and the company promises that more boxes should be installed in the future. The company has been offering its services in North America since 2014 and already has over a thousand machines installed.
According to Chris McAlary, CEO of Coin Cloud, the country was chosen to start the expansion of the company because of the growing interest of Brazilians in cryptography. “A recent survey, published by Forbes, places the country in second place in the percentage of people who have cryptocurrencies, behind Turkey only”, explains the executive.
Recently, the Brazilian government has also shown interest in the sector and confirmed that an official cryptocurrency in Brazil is under development.