The passion of Argentines for dollars and cryptocurrencies (or, rather, to escape the risk of their devalued national currency) is combined in the new ATM company Athena Bitcoin installed in the supermarket Walmart constituents, in the city of Buenos Aires.
Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) are the cryptocurrencies that can be purchased or sold for dollars on this new device. The fact, as reported Cryptonoticias, had been anticipated at the end of July by Matias Goldenhörn, director for Latin America of the aforementioned company.
In this new cashier you can deposit from one dollar and buy its equivalent in cryptocurrencies. The withdrawal minimum is USD 100 and the price of cryptocurrencies, which varies steadily, can be seen in real time on the Athena website.
The fact gained relevance in Argentine virtual cryptocurrency communities such as Facebook group Bitcoin Argentina. There, one of the most frequently asked questions was about the legality of trading in the U.S. currency. It should be remembered that there is no legal limitation to buy or sell cryptocurrencies with dollars.
In addition, asked by a user in that group about whether the transactions carried out at these ATMs are registered with the Federal Administration of Public Revenue (AFIP), Goldenhörn stated: “No Transaction in Athena Argentina is shared with AFIP. We Are Bitcoiners.”
The Athena Bitcoin cashier of Walmart constituents (there was already one there that accepted only pesos) was one of those who, being located in an essential supply place,remained open during the mandatory isolation that was imposed due to the covid-19 pandemic. Others were Avellaneda, San Fernando, Pilar, Cordoba, Pacheco and La Plata. They all operate only with weights.
A Bitcoin cashier accepting dollars was “a latent need”
Athena Bitcoin’s representative in Argentina, Dante Galeazzi, talked to crypto news outlets and pointed out that a cashier operating with dollars was “a latent need ” of its customers. “We understand the need for users to be able to trade not only in the local currency but also in currencies that protect value, such as the dollar, ” he explained
In this regard, it is worth clarifying that the dollar is also affected by inflation. According to official data from the US government, the dollar lost 16% of its purchasing power in the last 10 years and, due to its high issuance, some predict an acceleration of its devaluation by 2021. Although, of course, the decline in its value occurs to a lesser extent than that of the Argentine peso and other Latin American currencies.
Will they incorporate new cashiers that operate with dollars?
Asked about the possibility of opening new ATMs with these characteristics, Galeazzi replied: “Today we are seeing the first movements in the ATM and we will be analyzing according to sales”” Based on this analysis, the company will decide whether it is feasible to incorporate more ATMs that accept the U.S. currency.
On the company’s next moves, Galeazzi announced that, having installed ATMs in the provinces of Neuquén and Mendoza, they have plans to continue expansion into the interior of the country.
Worldwide Athena Bitcoin provides services in the United States, Argentina, Colombia, El Salvador and Mexico.