South America holds 0.2% of global Bitcoin ATMs

South American countries are showing a better inclination toward crypto adoption and Bitcoin ATMs deployment. 

The United States is the biggest global country in the world and here we can’t use the developed word for the US because it is highly advanced and developed. But there are many associated states and countries, which are still lagging behind crypto adoption, even though they are advanced.

Recent activities by the South American countries showed that they are now open to adopt Bitcoin and crypto-like innovation to bring advancement in the financial system.

Right now South America holds a total of 0.2% Bitcoin ATMs, in comparison to total Bitcoin ATMs booths all over the world. This is a clear indication of how these countries are still lagging behind the adoption. 

According to a recent report, a South American country, Uruguay installed its first Bitcoin ATM. With this, now, South America holds a total of 79 Bitcoin ATMs. 

Reports noted that the coastal city of Punta del Est grabbed its position as the first City to welcome Bitcoin ATM deployment in Uruguay. This first Bitcoin ATM kiosk was installed under the partnership of the URUBit and inBierto.

Right now only a limited number of crypto assets are supported, these are BTC, Binance Coin (BNB), Binance USD (BUSD), Ferret Token (FRT), and Arabic(URUB). Later two are house currencies, which are under the management of URUBit and inBierto respectively.

The CEO of inBierto, Adolfo Varela, confirmed that it was an effort of the official government of Uruguay. And 100% funding to install this Bitcoin ATM was done by the government. 

According to the available data at CoinATMradar, Colombia is at the top in terms of holding the highest 31 Bitcoin ATM kiosks in South America. While Brazil is standing at 2nd place with a total of 22 Bitcoin ATMs and Brazil is followed by Argentina with a total of 11 Bitcoin ATMs. 

Read also: Cardano founder says you’ll be able to use Hydra in microtransactions