• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Friday, May 16, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto Bitcoin

Uruguay’s first Bitcoin ATM is now installed

by Reshab Agarwal
January 18, 2022 - Updated On January 20, 2022
in Bitcoin, Crypto, News
Reading Time: 2 mins read
0
Uruguay’s first Bitcoin ATM is now installed
TwitterWhatsappLinkedin

Reports suggest that Uruguay’s first Bitcoin ATM has been installed. This happens as crypto adoption takes off in South American countries due to high inflation. While in Uruguay, things aren’t as bad as in many other countries, it is still nearing 10%. This first Bitcoin ATM represents that the country is also pushing adoption like many other nations on the continent. Uruguay has installed the ATM in a coastal city which is a major tourist attraction for them.

You might also like

Dick’s Sporting Goods to Acquire Foot Locker for $2.4 Billion in Bold Bid to Corner the Nike Market

iPhone 20 Pro Rumored to Redefine Smartphones in 2027 with a Stunning, Buttonless Design

OpenAI Rolls Out GPT-4.1 and GPT-4.1 Mini in ChatGPT

Bitcoin ATM in Uruguay

The ATM installed in Uruguay was made in partnership with URUBit and inBierto. This will allow users to buy Bitcoin by depositing cash directly and then transfer it to their BTC wallet. And since the ATM is located in a tourist region, they can expect quite a lot of transactions and fees coming in from the same. Apart from Bitcoin, the ATM in Uruguay also supports BNB, BUSD, FRT, and URUB tokens. I am pretty sure you might not have heard about FRT and URUB. These two tokens are managed by the ATM developers and are distributed by them.

Uruguay's first Bitcoin ATM is installed

The Bitcoin ATM developer has confirmed that the initiative was sponsored by the government of Uruguay. This also removes many doubts for those who might think that the initiative might have been private.

Distribution in South America

Currently, there are around 79 Bitcoin ATMs. Out of them, the majority is present in Columbia, Brazil, and Argentina. There are also a few present in Costa Rica, Peru, Chile, Venezuela, Aruba, Ecuador, and Nevis. In these countries, where most people do not have bank accounts, it is not possible for them to use an exchange to buy cryptocurrencies. In such a case, having Bitcoin ATMs is an essential solution as it allows the purchase of BTC and a few other cryptos using cash.

And since ATMs are generally government-funded, it also brings a level of trust in the citizens. As that happens, the adoption rates also increase, and we see a lot more people converting their cash to Bitcoins.


What are your thoughts as Uruguay’s first Bitcoin ATM is not installed? And do you think they will also push for adoption in this space? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

Also Read: Mike Tyson says he is “all in on Solana”: Big bet?

Tags: #Uruguayatmbitcoin
Tweet54SendShare15
Previous Post

OnePlus 11 Pro may feature a Rotating Camera Module – Here is what we know

Next Post

Bitcoin millionaires move to Puerto Rico because of lower taxes and a more relaxed lifestyle

Reshab Agarwal

Reshab is a tech-enthusiast who likes to write about all things crypto. He is a Bitcoin bull and believes in a decentralized future of finance. Follow him on Twitter for more!

Recommended For You

Dick’s Sporting Goods to Acquire Foot Locker for $2.4 Billion in Bold Bid to Corner the Nike Market

by Anochie Esther
May 16, 2025
0
Foot Locker

In a surprising retail shake-up, Dick’s Sporting Goods announced its plans to acquire Foot Locker in a $2.4 billion deal, aiming to solidify its dominance in the competitive...

Read more

iPhone 20 Pro Rumored to Redefine Smartphones in 2027 with a Stunning, Buttonless Design

by Anochie Esther
May 16, 2025
0
iPhone 20 Pro

It’s not every year that we hear whispers of a complete reinvention of the iPhone. But as Apple approaches the 20th anniversary of its most iconic product, rumors...

Read more

OpenAI Rolls Out GPT-4.1 and GPT-4.1 Mini in ChatGPT

by Anochie Esther
May 16, 2025
0
GPT-4.1 and GPT-4.1 mini.

OpenAI is once again pushing the boundaries of AI usability and performance with the official rollout of its latest flagship language models: GPT-4.1 and GPT-4.1 mini. These next-generation...

Read more
Next Post
Bitcoin millionaires move to Puerto Rico because of lower taxes and a more relaxed lifestyle

Bitcoin millionaires move to Puerto Rico because of lower taxes and a more relaxed lifestyle

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?