© Reuters. 15 Bitcoin ATMs will be installed by the largest shopping mall in the country
A partnership between Coin Cloud, maker of ATMs, and BR Malls (SA:), the largest shopping mall chain in Brazil, will take 15 “Bitcoin ATMs” to 4 states in the country. In all, eight cities in São Paulo, Rio de Janeiro, Goiás and Espírito Santo will receive the machines.
The first of the 15 boxes that allow you to buy and sell cryptocurrencies using reais has already been installed at the São Bernardo do Campo shopping mall, on Monday (16).
As highlighted by Coin Claud in a statement, the forecast is that the others are installed by the end of this week.
Bitcoin ATMs arrive in RJ, SP, ES and GO
US box maker Coin Cloud was the first to install a cryptoactive box in Brazil. In November 2020, the company installed the first equipment in the lobby of the Sheraton WTC SP hotel.
The Coin Cloud equipment was named BTM, changing the “Automatic Teller Machine” for “Bitcoin Teller Machine” (Bitcoin ATM).
Furthermore, the machines are of the bidirectional type. That is, they allow the purchase and sale of digital assets.
According to the company, currently, the tellers make available for trading more than 30 cryptoactives. This includes cryptocurrencies such as , , and and stablecoins such as () and (USDC).
For digital currency purchases, the minimum value is R$10 and for sales, the value rises to R$50. The operation lasts less than a minute.
At BTMs, transactions can only be carried out in cash. However, through the company’s digital wallet app, Coin Cloud Wallet, it is possible to purchase with debit and credit cards. The app is available for free for both Android and iOS.
But users can also store assets in other wallets, accessible via QR Code. The company charges a fee of 7% to 15% from customers for the service.
Check out the list of places that will receive the cryptocurrency boxes below:
- São Paulo (SP): Mooca Plaza, Jardim Sul, Villa Lobos and Metro Cruz;
- São Bernardo do Campo (SP): São Bernardo do Campo shopping mall;
- Piracicaba (SP): Shopping Piracicaba;
- Barueri (SP): Shopping Tamboré;
- Rio de Janeiro (RJ): Shopping Tijuca;
- Niterói (RJ): Shopping Plaza Niterói;
- Goiânia (GO): Goiânia Shopping;
- Vila Velha (ES): Shopping Vila Velha.
Coin Cloud wants to install 50 BTC ATMs by the end of the year
According to Isabela Rossa, leader of Coin Cloud in Brazil, Brazilians’ interest in BTMs is mainly due to the ease of buying and selling:
“We are managing to attract an audience that is not the famous day trade — which is already on the platform —, but people who have heard of cryptocurrencies, who are interested and already invest in other markets, but do not want to enter through brokerages.”
Rossa explained that having a physical product helps a lot in gaining the confidence of new investors. After all, knowing that the machine will be available and that the platform will not be down is a great advantage.
Finally, with regard to expansion in Brazil, the executive stated that, by the end of the year, the company plans to have 50 machines in total installed. Coin Cloud’s next target regions are the North and Northeast of the country.
By Easy Crypt