SAO PAULO – The brMalls shopping center network (BRML3) has entered into a partnership with the American company of Bitcoin ATMs (ATM), Coin Cloud, for the installation of 15 new equipment in nine cities throughout Brazil.
In a statement, Coin Cloud reported that the first ATM of its kind was installed last Monday (16) at the São Bernardo Plaza shopping mall.
The next, according to the company, will be installed by the end of this week in shopping centers in São Paulo (Mooca Plaza, Jardim Sul, Villa Lobos, Piracicaba, Tamboré, Metro Cruz), Piracicaba (Shopping Piracicaba), Barueri (Shopping Tamboré ), Rio de Janeiro (Shopping Tijuca), Niterói (Plaza Niterói), Goiânia (Goiânia Shopping) and Vila Velha (Shopping Vila Velha).
The company was the first in Brazil to have a Bitcoin ATM, making it possible to buy and sell cryptocurrencies using physical real notes. Since the beginning of its operation in the country, at the end of 2020, machines have already been installed in cities such as Recife, Curitiba, Campo Grande, Belo Horizonte and São Paulo.
In addition, Brazil was the first to receive this equipment from the company outside the United States, where it has more than 3,000 ATMs.
Buying and selling cryptocurrencies
Coin Cloud ATMs trade more than 30 cryptoactives, including Bitcoin, Ethereum, Litecoin and XRP, as well as stablecoins, which are tokens with the value tied to real assets, usually a currency like the dollar.
To carry out an operation, the user needs to spend at least R$10 to be able to buy digital assets, or R$50 if selling, and it is only possible to carry out a trade on the machine using cash. It is possible to trade using debit or credit card through the company’s application, Coin Cloud Wallet.
The company charges fees between 7% and 15% from customers, which are already included in the quotation when buying and selling cryptocurrencies. Upon acquisition, this amount is above what is normally charged by brokers and even investment funds.
To acquire cryptocurrencies, the customer must enter some data when starting the operation on the machine, such as telephone and CPF, after following the indications on the screen, he indicates whether he wants the value to go to his own Coin Cloud wallet or his own wallet, which can be indicated to the equipment using QR Code.
Then he places the notes in the space indicated and completes the operation. Remember that the value may take a while to appear in the wallet, as it depends on the confirmation of the operation in the blockchain. Therefore, the user receives a link from the company on his cell phone where he can follow the progress of the negotiation.
To sell cryptoactives, the user follows the same initial procedures and selects the put option, indicating from which portfolio the value will come. After following the steps indicated, the client receives an acknowledgment and needs to wait for the blockchain to complete the operation, which can take a while. Once the confirmation is received on the cell phone, it is necessary to return to the ATM, where the option to withdraw the money will be available.
Invest in the most affordable cryptocurrency funds on the market: open a free XP account!